OPT awards contracts for wave energy project

Ocean Power Technologies, Inc. (OPT) has awarded four major new contracts to Oregon companies in connection with the manufacture of its PB150 PowerBuoy® wave energy generating device, and its deployment off the coast of Reedsport, Oregon. Including the previously awarded contract to Oregon Iron Works (OIW) for the fabrication of the buoy’s steel structure, or spar, the new contracts bring the total amount invested by OPT in the local economy to over USD 6 million. Once the initial PowerBuoy is deployed and tested off the coast of Reedsport, OPT intends to construct the first commercial-scale wave power station in the US, consisting of up to nine additional PowerBuoys and grid connection infrastructure. This wave energy array will be created by Reedsport OPT Wave Park, LLC. American Bridge Manufacturing will manufacture the subsurface floats and tow-out fixtures that are part of the mooring system for the PowerBuoy. Cascade General, a subsidiary of Vigor Industrial, LLC, will perform the final assembly of the PowerBuoy and position it in the Columbia River for towing to the coast. Oregon Iron Works will perform the insertion and assembly of OPT’s innovative and proprietary power take-off and internal electronics into the PowerBuoy spar. Sause Bros., Inc will assist OPT in the deployment of the PowerBuoy, including towing it from the final assembly site in Portland to the Port of Coos Bay, and the positioning and installation of the buoy, mooring lines and anchors at the Reedsport site.

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