Monroe Township-based Ocean Power Technologies on Tuesday said it has been selected by the U.S. Department of Energy for the Phase II development of a next-generation wave energy converter.
“Following our successful completion of the Phase I DOE Award in April 2022, this continued investment by the U.S. government towards novel, innovative and clean ocean energy technology is critical to achieving our nation’s blue economy goals,” Philipp Stratmann, CEO and president of OPT, said. “This award from the DOE will be used to expand our Power-as-a-Service and Data-as-a-Service solutions, which will help us to expedite the development of our next generation of wave energy conversion technologies.”
In the DOE’s recently published awards for clean energy Small Business Innovation Research projects, OPT will receive up to $1.097 million over the next 18-24 months to develop and test a modular and scalable Mass-on-Spring Wave Energy Converter PowerBuoy for reliable powering of autonomous ocean monitoring systems.
OPT holds multiple patents related to MOSWEC technology, which generates power from the relative motion caused by the ocean waves.
