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March 3, 2010
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| 05:23 EDT |  | OPTT |
| theflyonthewall.com: | Ocean Power Technologies receives EUR2.2M EC grant for spanish project | | Ocean Power Technologiesb announces the award of EUR2.2M under the European Commission’s Seventh Framework Programme, or 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 EUR4.5M to a consortium of companies, including OPT, to deliver a PowerBuoy wave energy device under a project entitled WavePort, with an innovative wave prediction capability and a “wave-by-wave” tuning system. It is anticipated that the PowerBuoy 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. OPT will be responsible for the design, supply and deployment of the PowerBuoy and Underwater Substation Pod, with additional funding going to the remaining consortium members for the steel fabrication, wave-monitoring equipment, wave resource prediction research, system monitoring and project management. :theflyonthewall.com |
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