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October 15, 2009 – Vol.14 No.30 Ocean Power Technologies (OPT) and Lockheed Martin to Develop Wave Energy Systems. OPT and Lockheed have signed a commercial engineering services agreement to develop OPT's wave energy systems for use in future utility-scale power generation projects in North America. . Under the agreement, Lockheed Martin will provide its expertise in systems integration, lean manufacturing, and test and optimization analysis to enhance OPT's innovative PowerBuoy(tm) wave power generation technology to utility-scale. The companies agreed to collaborate on such projects in a letter of intent signed in January 2009. "The breadth of Lockheed Martin's expertise, innovation and execution skills will add significant value to OPT's overall delivery capability and assist in pursuing utility-scale wave energy projects," said Mark R. Draper, OPT's chief executive officer. "Their know-how will enhance key aspects of our current product offering, and aid the successful roll-out of our core PowerBuoy technology on the west coast of the U.S." OPT's proven PowerBuoy technology uses "smart" buoys, based on integrated patented hydrodynamics, electronics, energy conversion and computer control systems, to capture and convert energy from the natural rising and falling of waves into low-cost, clean electricity. The generated power is transferred ashore via an underwater power transmission cable. A future 10-Megawatt utility power station comprised of floating PowerBuoy systems, for example, would occupy approximately 30 acres (0.125 square kilometers) of ocean space. Such a plant would generate electricity for approximately 4,000 homes. "Lockheed Martin's experience, combined with OPT's impressive PowerBuoy technology, advances the efficient and cost-effective production of utility-scale wave power generation systems," said Rich Lockwood, vice president of Lockheed Martin's New Ventures business.
Ocean Power Technologies, of Pennington, New Jersey, develops wave-energy technology that harnesses ocean wave resources to generate reliable, clean and environmentally-beneficial electricity. Lockheed Martin, headquartered in Bethesda, Maryland, is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. In addition to its collaboration with OPT, Lockheed Martin is addressing the nation's energy and climate challenges with work in areas including next-generation alternative energy, energy efficiency, energy storage and climate monitoring.(10/13/09)
Links: Ocean Power Technologies Lockheed Martin
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PowerBuoys can be clustered to build floating power plants. | ||||
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