Pennington, N.J., September 13, 2011 — Ocean Power Technologies will collaborate with Lockheed Martin in connection with OPT’s proposed commercial-scale wave power generation project at Reedsport, Oregon.
Lockheed Martin will provide design, manufacturing, system integration and supply chain management expertise to enhance OPT’s PowerBuoy technology. This builds on previous work conducted by Lockheed Martin and OPT.
This collaboration follows a $2.4 million contract awarded by the Department of Energy to OPT as part of US Secretary of Energy Steven Chu’s initiatives announced in September 2010 to promote the development of renewable marine energy.
Construction of the Oregon PB150 PowerBuoy’s steel structure has been completed, and testing of the advanced power take-off and control system is in process at OPT's production facility in a test environment simulating the varying wave conditions that exist off the Oregon coast.
Assembly, systems integration, and land testing of the PowerBuoy is planned to occur over the next several months. It is intended to be the first of a proposed 10-buoy wave power station with a peak generating capacity of 1.5 MW, equivalent to the power needs of about 1,500 homes.