Ocean Power Technologies Wins New Autonomous PowerBuoy Grant

Recently, Ocean Power Technologies entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Homeland Security (DHS) Science & Technology Directorate (S&T (News - Alert)).

According to the agreement, the company will perform a new round of in-ocean tests on its Autonomous PowerBuoy to showcase its use in ocean surveillance.

Ocean Power Technologies' PowerBuoy is created to convert ocean wave energy into useable electrical power for utility-scale grid-connected applications. The PowerBuoy can be installed in arrays scalable to hundreds of megawatts.

Offering up to hundreds of megawatts of endless, clean, renewable energy from the ocean’s waves, it can be used to produce electricity in commercial-scale utility power plants.

To showcase the efficacy of its long duration maritime vessel detection platform, the DHS S&T Borders and Maritime Security Division will partner with OPT. OPT has been awarded a new $75,000 grant from the Maryland Technology Development Corporation (MTDC) in tandem with the CRADA, the company said in a recent statement.

“Building on our success in 2011 with the LEAP deployment, we are pleased to be implementing this advanced maritime security payload on our Autonomous PowerBuoy” said Charles F. Dunleavy, CEO at OPT. “The CRADA and the grant from the MTDC will assist us in the expansion of the Autonomous PowerBuoy capability for vessel detection operations, which is one of the significant potential markets for this product. We look forward to deploying the upgraded device.”

The company’s wholly-owned Oregon subsidiary, Reedsport OPT Wave Park LLC, recently received approval from the U.S. Federal Energy Regulatory Commission (FERC) for the full build-out of its planned 1.5 megawatt, grid-connected wave power station off Reedsport, OR. Offering an important regulatory approval for the deployment of up to ten (10) OPT devices generating enough electricity for approximately 1,000 homes, this is the first FERC license for a wave power station issued in the United States.

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