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.
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