NewNet News - Ocean Power Technologies Receives €2.2m EC grant for Spanish marine energy project

Ocean Power Technologies Receives €2.2m EC grant for Spanish marine energy project

3 Mar 2010

Listed marine energy company Ocean Power Technologies has received an award of €2.2m under the European Commission’s Seventh Framework Programme (FP7), by the EC Directorate responsible for new and renewable sources of energy, energy efficiency and innovation.

The grant to OPT is part of a total award of €4.5m to a consortium of companies, including OPT, to deliver a wave energy device under a project entitled WavePort. It is anticipated that the device will be deployed at the Santoña site in Spain, where OPT has worked on a wave energy project under contract from Iberdrola, the major Spanish utility company.

As well as OPT, the consortium members include the Wave Energy Centre, Fugro Oceanor, DeGima, the University of Exeter, and ISRI.

Earlier this year Ocean Power Technologies deployed one of its devices at the Marine Corps Base in Hawaii. The company was also been awarded $380,000 in additional funding for its commissioning and in-ocean operation.

Tags: marine energy, wave energy

One Response to “Ocean Power Technologies Receives €2.2m EC grant for Spanish marine energy project”

Steve Looser says:

3 March 2010 at 7:16 pm

This may be most promising energy source.
It may be even less disturbing to our ecosystem
then geothermal, wind or photovoltiacs.
It’s not going a to upset or pollute in any way.
Our planet only has so much oil, natural Gas,
Coal, Lithium and Uranium, so we have
to develop alternative/sustainable energy
sources for our future generations.
Think about it… we will deplete much of our
childrens energy resources in about 20 years
if we don’t develop renewable sources that
can support their needs.