Ocean Power Technologies (OPT) Deploys Hawaii Powerbuoy

February 2, 2010 – Vol.14 No.46

Ocean Power Technologies (OPT) Deploys Hawaii Powerbuoy.

Ocean Power Technologies, of Pennington, New Jersey, has announced the successful deployment of one of its PowerBuoys(r) at the Marine Corps Base in Hawaii. The Company has also been awarded $380,000 in additional funding for the PowerBuoy’s commissioning and in-ocean operation.

Building, deployment and operation of this PowerBuoy is part of a program with the US Navy to develop and test OPT’s wave power technology. The Navy’s support for the Hawaii program also reflects its long-term commitment to renewable energy and reducing its dependence on fuel oil shipments. Many of its naval bases around the world are suitable for OPT’s wave power stations.

Deployment of the PowerBuoy at the Marine Corps base at Kaneohe Bay on the island of Oahu was conducted efficiently and safely, and was accomplished in one day. The system, located approximately one mile offshore in 100 feet of water, is generating power in accordance with its specifications for local wave conditions and the test protocol being used. The expertise of Oahu-based Sea Engineering, Inc., OPT’s diving and work boat contractor, and the support provided by officials from the Marine Corps Base and Naval Facilities Engineering Command (NAVFAC) in Hawaii contributed to the success of the deployment. The Company is also collaborating with Sound and Sea Technology, which has significant experience working with the Navy on ocean engineering projects.

The newly awarded funding will enable continued testing and monitoring of the PowerBuoy’s operation, providing data for the on-going engineering of the next generation of OPT’s PowerBuoys. (2/1/10)

Links:

Ocean Power Technologies
http://www.oceanpowertechnologies.com

--- Ocean Power Technologies (OPT) and Lockheed Martin to Develop Wave Energy Systems.

--- Ocean Power Technologies (OPT) Joins Consortium to Develop Demonstration Wave Power Station in Japan.

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