Ocean Power Technologies Wins New $2M Award from US Department of Energy

Ocean Power Technologies Wins New $2M Award from US Department of Energy – (October 2, 2008)

PENNINGTON, N.J., Oct 02, 2008 (BUSINESS WIRE) -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") today 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(R) 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 in Oregon. This is the first award for the building of ocean wave energy systems by the DoE, and the Company believes it is indicative of the growing recognition and support of wave energy within the US federal and state governments. Oregon's Governor Ted Kulongoski has emphatically recognized the importance of wave energy in playing a key part in helping Oregon reach its renewable energy goals for the future. This has included formation of the Oregon Wave Energy Trust, which provides funding for initiatives in furtherance of the State's realizing benefits from wave energy. OPT has been an active participant with many stakeholders in the State and along the Oregon coast, working with fishing, conservation, municipal, State, federal and other groups.

The Surfrider Foundation in Oregon has been actively involved in this project and sits on the stakeholder group. OPT has thus far been a model for community participation in the development of a wave energy project.

Ecological Effects of Wave Energy Development in the PNW

In October 2007, Oregon a diverse group of some 50 marine scientists from around the country participated in a 3 day workshop on the ecological effects of wave energy. The principal objectives of the workshop were o develop an initial assessment of the potential impacting agents and ecological effects of wave energy development, and 2) to formulate a general conceptual framework of physical and biological relationships that can be applied to specific wave energy projects.


The report that came out of the workshop was just released. Check it out:

Ecological Effects of Wave Energy Development in the Pacific Northwest
A scientific workshop, October 11-12, 2007
Editors George W. Boehlert, Gregory R. McMurray, and Cathryn E. Tortorici

Click here to download (2.5 MB .pdf)

The Power of Water

The colossal power of the ocean continues to attract companies around the world.

Check out this insightful video from the NY times

Ocean Renewable Energy Conference

On Sept 25-26, 2008 the Oregon Wave Energy Trust will host the third annual Ocean Renewable Energy Conference at the Mill Convention Center in Coos Bay, Oregon. The conference will present on all aspects of project development from early stage community engagement to final deployment and energy generation. As part of the program, Surfrider Foundation will participate in a panel discussion on Friday morning on Community Perspectives. Please join community leaders, developers, utilities, state and federal agency staff that are working on this important issue. Also, on Sept 24, an Open House on Community Involvement will be held at the Southern Oregon Community College from 6-8 pm. To register for the conference please visit http://www.oregonwave.org/ See you there.

Wave & Wind Power in Mendocino

Wind and wave energy off of the Mendocino coast offers hope and questions.

Locals appear supportive but want to make sure they are part of the planning process.

Read Sacramento Bee article here.

Finavera Sunken Wave Energy Buoy Recovery Underway

It sank to the bottom in 150 feet of water just one day before its planned retrieval. After nine months of waiting, divers and salvage vessels are currently on site to assist in the rebirth of a 75-foot, 40-ton wave energy buoy. The buoy, now in separate pieces, is being towed up the Yaquna River to a salvage yard. The first piece (the 10-foot surface ring) came in at 2:00 am Thursday morning. The Newport Chapter of Surfrider Foundation submitted comments and requested disclosure earlier this year to the Department of State Lands and Finavera's plans for removing the buoy prior to the expiration of the temporary use permit. "We were concerned that the state was going to be left holding the bag on this, and we didn't want it to set precendent for future salvage efforts that will surely come as we explore new alternative energy projects in Oregon," said Newport Chapter's Joe Haxel. "It's great to see Finavera following through on the salvage."

The Surfrider Foundation is excited about the prospects for new alternative energy projects but recognizes the need to move forward with cautious yet optimistic planning. Finavera said they would use the data gleaned from the buoy before its demise to "move forward with technological development". We hope the local/state agencies and various stakeholders can embrace this as a learning experience to better prepare Oregon for the development of this new technology. Read more

Surfrider Foundation Alternative Ocean Energy Policy

While meeting in Newport, Oregon on June 28th, the Surfrider Foundation Board of Directors passed an Alternative Ocean Energy policy that defines our approach toward renewable energy projects along the world's coasts and oceans.

Alternative Ocean Energy Policy

The policy highlights the importance of seeking clean energy sources such as those provided by the oceans to reduce our dependency of fossil fuels that are creating global warming.

The policy also recognizes that there are many questions and concerns about ocean energy, including potential impacts to ocean recreation, nearshore ecology, coastal processes, public safety, aesthetics, and fishing access.

The policy also stresses the need for transparency and meaningful public input on future projects.