4 August '10
2:50 PM UTC
1 Comment
  Tidal & Wave

Ocean Power Technologies Gets Closer to Utility-Scale Wave Power in America

Ocean Power Technologies PowerBuoy: Coming soon to Oregon

Ocean Power Technologies is a step closer today to building the country’s first utility-scale wave power project in Oregon.

The Pennington, N.J.,-based company announced that it had signed a settlement agreement with 11 federal and state agencies and three non-governmental stakeholders regarding the development of a 1.5-megawatt wave energy station at Reedsport, Oregon. The station will use ten Ocean Power Technologies’ PB150 PowerBuoys, which are currently under construction at Oregon Iron Works. The company’s stock (NASDAQ:OPTT) was up 3.2 percent to $5.48 at 3 p.m. EST. Read More »

21 June '10
12:43 PM UTC
No Comments
  Tidal & Wave

Scotland’s Aquamarine Raises £6M

Aquamarine Power, an Edinburgh-based developer of wave-powered electric generation technology, has secured £6 million ($8.91 million) from undisclosed investors to support construction of its 2.8 megawatts Oyster 2 wave power devise. Read More »

10 May '10
9:01 AM UTC
No Comments
  Tidal & Wave

Wave Energy: Politically Attractive These Days, But Still Has Lots To Prove

The fallout from the recent oil spill in the Gulf of Mexico has politicians who previously supported oil prospecting off the United States’ coasts running for cover. Left-leaning pundits have been quick to ridicule the deafening silence coming from the conservatives who little more than a year ago turned the phrase “drill baby drill” into a political mantra.

Read More »

16 March '10
1:49 PM UTC
No Comments
  Tidal & Wave

Scottish and Southern’s Renewable Energy Sub. To Develop 400 MW of Wave & Tidal-Powered Projects

Scotland: The Saudi Arabia of tidal and wave power!

SSE Renewables, the renewable energy unit of Scottish and Southern Energy, was awarded exclusive rights to develop up to 400 megawatts of wave and tidal-powered electricity in and around the Scottish coast as part of a massive tender administered by the Crown Estate.

The Crown Estate also awarded leases to Iberdrola of Spain, the U.K. unit of ScottishPower, and Germany’s E.ON. Read More »

18 January '10
9:32 AM UTC
2 Comments
  Tidal & Wave

Ocean Power Technology CEO Resigns

The PowerBuoy

In a surprising development, Ocean Power Technologies (OPT) has announced that CEO Mark Draper is leaving the company  less than a year after taking the top position from company founder Dr. George Taylor, citing personal reasons.  AIM-listed OPT, which has developed the PowerBuoys generator, a water buoy that capture waves to generate electricity, has appointed Chief Financial Officer Charles Dunleavy to replace him. Read More »

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