OPT awards Oregon companies with PowerBuoy contracts

Wave-energy company Ocean Power Technologies (OPT) is awarding four new contracts to Oregon companies in connection with the manufacture of its PB150 PowerBuoy wave-energy generating device and its deployment off the coast of Reedsport, Oregon, US.

The contracts, in addition to the previously awarded contract to Oregon Iron Works for the fabrication of the buoy’s steel structure, or spar, takes the total invested by OPT in the local economy to more than $6m (£3.6m), creating or saving up to 100 manufacturing and marine services jobs at the four companies and their suppliers.