Wave energy developer Ocean Power Technologies, Inc. (Nasdaq: OPTT) today announced financial results for its fiscal 2012 second quarter ended October 31, 2011. Recent Highlights OPT’s contract backlog as of October 31, 2011 rose to $8.8 million from $7.1 million at July 31, 2011, due primarily to the contribution of a €2.2 million ($3.0 million) [...]
Ministers of the governments of Ireland, the UK, Scotland, Wales, Northern Ireland, the Isle of Man, Jersey and Guernsey called on the European Union to give its full backing to the development of the massive ocean energy resources that exist in these regions. The governments gave their support to a Member State Position Paper on [...]
M3 Wave Energy Systems based in Corvallis, Oregon, conducted testing on its DMP device technology at Hinsdale Wave Research Laboratory at Oregon State University last week. As a result of this developmental milestone, the company has begun a new push for funding in order to be able to proceed to an in-ocean pilot. The [...]
The University of Massachusetts Amherst and the Massachusetts Department of Fish and Game’s Division of Marine Fisheries (DMF) celebrated the opening of a shared marine science research center at Hodgkins Cove, a $400,000 renovation made to promote sustainable fisheries and economic development. Working in close collaboration with the fishing industry, researchers will focus on tuna, [...]
State and federal members of the Maine Task Force of the Bureau of Ocean Energy Management will meet on December 8th (Thursday) to review an unsolicited lease application that they received from the Norwegian oil company, Statoil, for a wind energy project in the waters south of Boothbay, Maine. The project is considered the first-of-its-kind [...]
A species of crab found a thousand feet below the surface of the Pacific Ocean near Costa Rica lives off the bacteria on its claws – bacteria that it fertilizes by waving them in methane and sulfide released from the seafloor. This “farming” behavior was described for the first time in detail by the scientists [...]
The Gulf Coast Ecosystem Restoration Task Force today released its final strategy for long term ecosystem restoration for the Gulf Coast, following extensive feedback from citizens throughout the region. EPA Administrator and Task Force Chair Lisa P. Jackson, partnering with Task Force Co-Chair Garret Graves, made the announcement today during keynote remarks at the 2011 [...]
Wave energy developer, Carnegie Wave Energy Limited, has announced a capital raising via a Share Purchase Plan (“SPP”) of up to $4 million. The SPP will allow all existing and eligible Carnegie shareholders to purchase between $3,000 and $15,000 worth of shares at 5c per share. Based on the share price at close of trading on [...]
The Bureau of Ocean Energy Management (BOEM) is seeking comments on proposed lease sale auction procedures designed specifically to meet the needs of offshore wind development on the Outer Continental Shelf (OCS) as part of the Secretary of the Interior’s “Smart from the Start” initiative. Based on its own research and an auction study commissioned [...]
An international team of scientists who monitor the rapid changes in the Earth’s northern polar region say that the Arctic is entering a new state – one with warmer air and water temperatures, less summer sea ice and snow cover, and a changed ocean chemistry. This shift is also causing changes in the region’s life, [...]
Ocean energy company, BioPower Systems (BPS), today announced that the Victorian Ministry for Energy and Resources in Australia has awarded the company conditional funding support of $5 million under the Sustainable Energy Pilot Demonstration Program. The funding will be applied towards the $14 million pilot demonstration of the company’s 250kW bioWAVE ocean wave energy system [...]
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