OPT & Lockheed Martin Collaborate on Utility Wave Power Project

Lockheed Martin and Ocean Power Technologies Inc. (OPT) announced they have signed a letter of intent to collaborate on the development of a utility-scale wave power generation project in North America.

Lockheed Martin and OPT said that under the agreement OPT would provide its project and site development services, build the power take-off and control systems of the plant, and provide its proprietary PowerBuoy technology. Lockheed Martin would provide construction, systems integration and deployment of the plant, as well as operations and maintenance services.

This is the first agreement between the two companies for a utility-scale renewable energy project and builds on their previous work together on systems for U.S. homeland security and maritime surveillance. This work included OPT’s autonomous PowerBuoy integrated with Lockheed Martin’s acoustic sensors, signal processing and communications systems.

OPT’s PowerBuoy wave generation system uses a  buoy to capture and convert wave energy into electricity. The generated power is transmitted ashore via an underwater power cable. The prospective wave power project between Lockheed Martin and OPT is expected to be off the coasts of either California or Oregon.

“This agreement is another step in Lockheed Martin’s effort to support our national security through energy independence built around zero-emission renewable energy sources,” said Howard Luebcke, Lockheed Martin director of Renewable Energy Business Development. “The depth and breadth of Lockheed Martin’s systems engineering, procurement, manufacturing and process improvement capabilities, combined with OPT’s innovative PowerBuoy technology and their project development experience, will promote the rapid deployment of utility-scale systems.”

In November 2007, Lockheed Martin teamed with Starwood Energy Group to pursue utility solar generation projects in North America and has been pursuing multiple utility-scale opportunities. In December 2008, Lockheed Martin broke ground for construction of a solar power test bed to support these efforts, demonstrating its systems engineering and resources commitment to the renewable power generation market.

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