Ocean Power Technologies Gets Additional $1.9M

Thursday, October 04, 2007
Ocean Power Technologies, Inc. (OPTT, OPT.L), a developer of PowerBuoy systems that generate electricity by harnessing the renewable energy of ocean waves, said it received an additional $1.9m for the installation of PowerBuoys, in connection with its on-going contract with the U.S. Navy. According to the Pennington, New Jersey- based company, the fund will primarily support the testing and monitoring of the next PowerBuoy systems to be installed off the Marine Corps Base in Hawaii at Kaneohe Bay. The site is one mile away from the coast and 100 feet deep in the sea. Ocean Power indicated that the systems will be tested at the sites and the performance data collected would support the on-going engineering of the next generation of PowerBuoys. In accordance with the National Environmental Policy Act, or NEPA, Ocean Power wave power project completed an extensive environmental assessment by an independent engineering company. This study evaluated the potential impacts on the organisms and vegetation on the seabed as well as sea quality and came into a conclusion that the project would not significantly impact the environment. [Source: http://www.rttnews.com]
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

General Dynamics gets $25 mi GPS Contract from Lockheed Martin

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $25.4 million full-production contract from Lockheed Martin to support the U.

Globecomm to Provide VSAT for PBJV Barge

Purpose-built accommodation and pipe-lay barge on charter to Petronas equipped with VSAT and L-Band services. Globecomm Maritime has been awarded a contract

VSTEP Wins Mexican Navy Simulator Contract

The Mexican Navy selected VSTEP to supply a Class A NAUTIS Full Mission Bridge (FMB) Simulator and 24 NAUTIS desktop trainer stations for the Naval Academy in Veracruz.

Shipbuilding

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Regulations Threaten Superyacht Innovation

To increase innovation within the superyacht industry, designers need to work with flag states, classification societies and naval architects to ensure regulations are workable, as said by experts.

News Flash! Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0861 sec (12 req/sec)