Pennington, USA — ESI-AFRICA.COM — 17 November 2010 – Marine hydro firm Ocean Power Technologies Incorporated (OPT) has expanded its relationship with Mitsui Engineering & Shipbuilding Company Limited with the signing of a new contract to develop its Power Buoy technology for application in Japanese sea conditions.
A statement issued here explained that this built on the company’s MOU, signed in October 2009, with Mitsui, Idemitsu Kosan Company and Japan Wind Development Company for the development of wave energy in Japan. The consortium had since worked with the Japanese government to increase recognition of wave power in Japanese energy policy – which intends to boost renewable energy sources to 10% of primary energy supply by 2020.
Under this new contract, the two companies will work together to develop a new mooring system for OPT’s Power Buoy, customised for wave power stations off the coast of Japan. The new system will undergo testing at Mitsui’s wave tank facilities to verify the results of extensive computer modeling.
In other news, Ocean Power Technologies has announced that its subsidiary, Ocean Power Technologies Limited in England, has been awarded a US$2.3 million (R15.9 million) grant from the South West of England Regional Development Agency for the development of its next generation Power Buoy wave power system.