Ricardo Inc News

U.S. The U.S. Department of Energy (DOE) announced that nine teams have been named finalists in the Wave Energy Prize—a 20-month design-build-test competition—and will proceed to the next phase of the competition. The nine finalists and two alternates, identified from the 17 remaining official qualified teams, will continue their quest to double the energy captured from ocean waves and win a prize purse totaling more than $2 million. Each of the finalists and alternates will now receive seed funding from DOE to develop 1/20th scale models of their wave energy converter (WEC) technologies. These models will be tested at the nation's most advanced wave-making facility…

Ricardo has been selected by the U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy to administer a ocean Wave Energy Converter (WEC) prize challenge, aimed at helping to bring this potential source of clean energy to commercial scale. Wave energy conversion is technology that uses the motion of ocean waves to create electricity. The WEC Prize aims to attract innovative and next generation ideas from new and existing wave energy developers by offering a monetary prize and providing an opportunity for tank testing and evaluation of scaled WEC prototypes.