Ocean Power Technologies

Ocean Power Technologies
Public
Traded as NASDAQ: OPTT
Industry Renewable Energy, Wave Power, Sustainable Energy
Founded Princeton, New Jersey, United States (1984)
Founder Dr. George W. Taylor
Dr. Joseph R. Burns (late)
Headquarters Pennington, New Jersey, United States
Area served
 worldwide
Key people
 Charles F. DunLeavy
(Chairman) & (CEO)
Dr. George Taylor
(Executive Vice Chairman))
Website (1999 established)

Ocean Power Technologies (O.P.T.) is a US owned renewable energy company, providing power generation devices, services and related equipment for the extraction of energy from ocean waves. The company's PowerBuoy technology is scalable to hundreds of megawatts and the generated energy from Wave Power is supplied to the grid via submarine cables. Projects are now underway around the world.

Ocean Power Technologies Australasia Pty Ltd, OPTA is an Australian owned subsidiary of Ocean Power Technologies Inc (OPT), currently engaged in wave power projects in Australia .

Ocean Power Technologies Limited is the UK-based wholly owned subsidiary.

Range of products

Projects

Current

  1. LEAP Autonomous PowerBuoy, New Jersey, USA [1][2] - O.P.T. has successfully operated a system off New Jersey, designed and manufactured by O.P.T. under the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program for coastal security and maritime surveillance.
  2. Coos Bay, Oregon, USA [3]- O.P.T. has proposed a utility-scale, commercial wave park in North America at Coos Bay, Oregon. The planned size of this park is up to 100 megawatts, and it will be the largest wave energy project in the world when completed.
  3. Reedsport, Oregon, USA[4][5] - O.P.T. is developing a commercial wave park on the west coast of the United States located 2.5 miles offshore near Reedsport, Oregon. The first phase of this project is for ten PB150 PowerBuoys, or 1.5 megawatts. Due to legal and technical problems, this project has now ground to a halt, August 2013. [6]
  4. Santoña, Spain[7][8] - In July 2006, O.P.T. formed a joint venture with Iberdrola S.A., global oil major TOTAL, the Spanish Government IDAE (Institute of Energy Savings and Efficiency), and the local regional development agency SODERCAN, for the turnkey construction of a wave farm off the North coast of Spain. OPT has been awarded funding by the European Union to deploy a PowerBuoy at the Santoña site developed by the joint venture.
  5. Cornwall, England, UK[9][10] - O.P.T. aims to develop its wave power generation technology at Wave Hub, a renewable energy project off Cornwall in the South West of England, which expects to create the UK's first offshore facility for the demonstration and proving of arrays of wave energy generation devices.
  6. Portland, Victoria, Australia[11] - Ocean Power Technologies Australasia Pty Ltd, as part of Victorian Wave Partners is developing a 19 megawatts wave power station connected to the grid near Portland, Victoria. The project has received an AU $66.46 million grant from the Federal Government of Australia.

Completed

  1. Scotland [12][13] - An O.P.T. wave power generation buoy was successfully deployed at sea in 2011 by a team including Scotland-based Global Maritime Scotland Ltd, Port Services (Invergordon) Ltd and OPT, with the support of the Cromarty Firth Port Authority.
  2. Oahu, Hawaii [14][15] - From 2009 to 2011, O.P.T. ocean-tested its wave power generation system at the US Marine Corps Base Hawaii (MCBH) at Kaneohe Bay. The Oahu system was launched under the Company's program with the US Navy for ocean testing and demonstration of such systems, including connection to the Oahu grid.
  3. Atlantic City, New Jersey[16] - The principles demonstrated with the earlier prototype power generation buoys, deployed and tested off the coast of Atlantic City, were integrated into the designs of the buoys for Hawaii and Spain.

Technology

Powerbuoy

The Company's primary product is the PowerBuoy wave generation system.[17] It uses a "smart," oceangoing buoy to capture and convert wave energy into low-cost, clean electricity.

Undersea Substation Pod (USP)

The USP[18] is an electrical power aggregator from up to ten offshore power generation devices, be they wind, wave power or other, into one common interconnection point for transmission to the onshore power grid. The USP can likewise be configured to supply onshore power to offshore devices.

See also

References

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