Tech

July 11, 2012

Ocean Power Technologies, Lockheed Martin to develop wave-energy project in Australia

Ocean Power Technologies, Inc., a leading wave energy technology company, and Lockheed Martin have entered into a teaming agreement with the goal of developing a 19 megawatt wave-energy project in Victoria, Australia.

This is one of the largest wave-energy projects announced to date, and leverages a grant from the Commonwealth of Australia.

For the project, Lockheed Martin will assist with the design of Ocean Power Technologies’ PowerBuoy® technology, lead the production and system integration of the wave-energy converters and support overall program management. Lockheed Martin and OPT have been collaborating since 2004, first on the development of an Advanced Deployable System for the U.S. Navy and most recently to design and launch utility-scale wave energy converters off the coast of Reedsport, Oregon.

“Lockheed Martin is applying its expertise to commercialize promising, emerging alternative energy technologies,” said Dan Heller, vice president of new ventures for Lockheed Martin’s Mission Systems & Sensors business. “We see great potential in harnessing the vast power of the ocean. By working with OPT and Australian industry on this project, we will advance wave energy in Australia and globally.”

According to the World Energy Council, wave energy has the potential to produce around 2,000 terawatt hours of electricity a year, or enough power to meet 10 percent of the world’s current energy needs. In Australia, which has very attractive wave resources, this percentage could be significantly higher.

Charles F. Dunleavy, Chief Executive Officer of OPT, said, “Lockheed Martin’s commitment to alternative energy and its engineering, production, and systems integration expertise will provide momentum to our Australia initiatives, where both companies see great potential for large-scale wave energy generation. We also appreciate the Commonwealth government’s continued support of this project, which we expect to create a significant number of local jobs as we develop and maintain operations over the life of the power station.”

Funding for the project, which is to be located off the coast of Portland, Victoria, also includes a previously announced grant of $65.3 million from the Commonwealth of Australia’s Department of Resources, Energy and Tourism. A Funding Deed sets out the terms of the grant, including the requirement to obtain significant additional project financing.

The project is to be developed by a special purpose Australian company, Victorian Wave Partners Pty Ltd, currently owned by Ocean Power Technologies (Australasia) Pty Ltd. The partners are assessing financing opportunities for the project and pursuing power purchase agreements with local industry and utilities.




All of this week's top headlines to your email every Friday.


 
 

 
NASA photograph by Tom Tschida

NASA Armstrong leads team to test effects of volcanic ash on aircraft engines

NASA photograph by Tom Tschida Volcanic ash is sprayed into one of the F117 engines of a C-17 during the final phase of the Vehicle Integrated Propulsion Research (VIPR) project July 9 at Edwards. The VIPR team, comprised of NA...
 
 
NASA photograph

NASA, partners test unmanned aircraft systems

NASA photograph NASA’s Ikhana is being used to test a system that will allow uncrewed aircraft to fly routine operations within the National Airspace System. NASA, working with government and industry partners, is testing...
 
 
NASA photograph

NASA-developed air traffic management tool flies into use

NASA photograph NASA Future Flight Central is a national Air Traffic Control/Air Traffic Management (ATC/ATM) simulation facility. The two-story facility offers a 360-degree full-scale, real-time simulation of an airport, where...
 

 
NASA photograph

Robotics teams prepare to compete for $1.5 million in NASA Challenge

NASA photograph The Los Angeles team Survey’s robot is seen as it conducts a demonstration of the level two challenge during the 2014 NASA Centennial Challenges Sample Return Robot Challenge, Thursday, June 12, 2014, at t...
 
 

NASA invests in future of aviation with supersonic research projects

Quieter, greener supersonic travel is the focus of eight studies selected by NASAís Commercial Supersonic Technology Project to receive more than $2.3 million in funding for research that may help overcome the remaining barriers to commercial supersonic flight. The research, which will be conducted by universities and industry, will address sonic booms and high-altitude emissions...
 
 
afrl-sensors

Sensors Directorate co-sponsors autonomous aerial vehicle competition

Members from the University of Toledo, Ohio, team make adjustments to their multirotor aircraft prior to the autonomous aerial vehicle competition. The Air Force Research Laboratory Sensors Directorate hosted the event April 28...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>