Ocean Power receives funding for Hawaii wave power project14 April 2009 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. 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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