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 August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

APM Terminals Pipavav Starts New Ro/Ro Service

With 1,300 new Indian-built Ford automobiles loaded onto the Grand Dahlia on August 27th for delivery to Mexico, a new era for the Indian auto industry and Gujarat Port Pipavav commenced.

Shipbuilding

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Obama Pushes for U.S. Icebreakers

President Barack Obama on Tuesday will propose a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic,

G E Shipping Takes Delivery of Bulker

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered

 
 
Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.3930 sec (3 req/sec)