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DoE funds PowerBuoy scale-up

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Ocean Power Technologies (OPT) has been awarded $1.5m (£1m) of funding from the US Department of Energy (DoE) for the development of its next-generation PowerBuoy wave power system.

The group, which has offices in Warwick and New Jersey in the US, will use the investment to help fund the scale-up of the power output per PowerBuoy from the current level of 150kW to 500kW.

Further technology development will focus on increasing the power extraction efficiency as well as building a ‘Design-for-Manufacture’ approach, which aims to achieve lower installed capital and energy costs that are expected to be competitive with energy based on fossil fuels.

Charles Dunleavy, chief executive officer of the company, said: ‘OPT’s programme of work under this award is in accord with the Department of Energy’s objectives to increase the use of domestic marine resources for electric power generation and to enhance energy security, while improving the environment. 

‘OPT and its partners share these goals and are committed to dealing constructively with the challenges of climate change. We appreciate the DoE’s confidence in our technical capabilities to commercialise wave power further.’

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