New ETF Book by Larry Connors - Click here to read more
The PowerBuoy is located approximately one mile off the coast, in 100 feet of water. The system will be connected to the Oahu power grid. The US Navy has added USD300,000 in funding for this programme to provide for extended operation of the system. A The company and the US Navy have been jointly advancing PowerBuoy technology for several years. The power produced has been in accord with Ocean Power's predictive models and is undergoing continuous monitoring at its Pennington, New Jersey, facility. The system has the capability to amend its operating mode automatically in reaction to changing sea states.
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