Global warming, energy security and rising oil prices have resuscitated the marine energy sector. Ocean energy is a predictable and abundant source of energy with the ability to supply approximately 10% of the world’s electricity needs. The value of worldwide electricity revenues from wave and tidal stream projects could ultimately be between pounds sterling 60bn (euro 77.40bn) and pounds sterling 190bn (euro 245.10bn) per year. The United Kingdom... Read more..
Ocean Power Technologies, Inc. announces that it has received a US$2.0 million award from the US Department of Energy (DoE), in support of OPT’s wave power project in Reedsport, Oregon. The DoE grant will be used to help fund the fabrication, assembly and factory testing of the first PowerBuoy® to be installed at the Reedsport site. This system will be a 150 kilowatt-rated PB150 PowerBuoy, major portions of which will be fabricated and integrated... Read more..