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

Diana Containerships Q2 & 1H 2014 Financial Results

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014,

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

Shipbuilding

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Aker Philadelphia Shipyard ASA: Purchase of own shares

Aker Philadelphia Shipyard AKPS), a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market, has on July 25, 2014 purchased 1,

HMS Prince of Wales Delivery Begins

A huge section of hull for HMS Prince of Wales, the second aircraft carrier being delivered to the Royal Navy, has today departed BAE Systems in Glasgow on a 600-mile

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.1274 sec (8 req/sec)