Ocean Power Technologies gets DOE award for wave energy project

Ocean Power Technologies Inc. has been chosen by the U.S. Department of Energy to further the development of a next-generation wave energy converter, it announced this week.

The Monroe Township-based ocean energy solutions company said in a news release that it received an award of up to $197,203 for a clean energy Small Business Innovation Research project: to perform a preliminary conceptual design and feasibility study of a modular and scalable Mass-on-Spring Wave Energy Converter, or MOSWEC, PowerBuoy for powering autonomous ocean monitoring systems.

“Investment by the U.S. government toward the commercialization of clean energy technology is critical to achieving our nation’s net-zero emissions goals,” Philipp Stratmann, CEO and president, said in a prepared statement. “This award from the DOE will allow OPT to continue innovative blue tech power and data solution development.”