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Ocean Power receives funding for Hawaii wave power project

Ocean Power Technologies Inc has received additional funding of US$1.1 million for its on-going project with the US Navy to demonstrate the PowerBuoy® wave power system off the Hawaiian island of Oahu.

The PowerBuoy wave energy system was deployed in October 2008 at the offshore site approximately one mile off the coast, at a depth of 100 ft.

This additional contract will primarily support the continuing upgrades and testing of Ocean Power Technologies’ PowerBuoy for improved ocean durability.

The Hawaii wave energy project is for the installation, testing and grid connection of successive PowerBuoys off the Marine Corps Base in Hawaii at Kaneohe Bay.

Ocean Power Technologies’ wave power project has already undergone an extensive environmental assessment by an independent engineering company which featured evaluation of potential impacts on the seabed; fish, organisms and mammals; vegetation; and sea quality. This resulted in a Finding of No Significant Impact (FONSI) on the environment.

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