Knobias Clip Report (01-26-20009) OPTT
Submitted By Knobias ClipReport
OPTT: Collaboration for Utility-Scale Wave Power Generation Project
By Fain Hughes, fhughes@knobias.com
Lockheed Martin (LMT) and Ocean Power Technologies, Inc. (OPTT) have signed a letter of intent to collaborate in the development of a utility-scale wave power generation project in North America.
Lockheed Martin and OPTT intend to enter into an agreement under which OPT would provide its project and site development expertise, build the power take-off and control systems of the plant, and provide its proprietary PowerBuoy(R) technology. Lockheed Martin would provide construction, systems integration and deployment of the plant, as well as operations and maintenance services.
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