Oceanlinx Plans Wave Energy for Maui

February 19, 2008 – Vol. 12 No. 48

Oceanlinx Plans Wave Energy for Maui.

The company, previously known as Energetech Australia, has announced plans to provide 2.7 megawatts of wave generated electricity to Maui Electric Company, of Hawaii. The project, of two to three floating platforms located one-half to three-quarters of a mile due north of Pauwela Point on the northeast coast of Maui, will be Hawaii’s first wave energy project.

The project could be operational by the end of 2009. The cost, to be borne by Oceanlinx and its investors, is estimated at $20 million. Oceanlinx has signed a Memorandum of Understanding with Renewable Hawaii, Inc., an unregulated subsidiary of Hawaiian Electric Company, for possible passive investment in the project.

Oceanlinx utilizes oscillating water column technology combined with its own patented turbine technology. In operation rising and falling sea swells push and pull air past the turbine; its blades shift in response to the direction of the air flow, enabling the turbine to turn continuously in one direction. Electricity is then brought ashore through an undersea cable to a substation tied to the island electrical grid.

“Ocean energy today is where wind was 15 to 20 years ago – with many competing technologies,” said Mike May, Hawaiian Electric president & CEO, “Hawaiian Electric has monitored their progress and we have consulted and assisted whenever possible.

“Wave energy is more available and more predictable than most other types of renewable resources,” said David Weaver, executive chairman and CEO of Oceanlinx. “Commercial satellites allow long range tracking of wave patterns days in advance. With such advanced data, the utility is better able to plan for the generation output of the Oceanlinx unit.”

Oceanlinx, of Botany, Australia, is a leading international company in the field of wave energy conversion. It has developed proprietary technology for extracting energy from ocean waves and converting it into electricity, or utilizing that energy to provide desalinated industrial or potable grade water from sea water. (2/15/08)

Links:

Oceanlinx
http://www.oceanlinx.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes