Ocean Power Technologies has been awarded a USD 900,000 contract by Mitsui Engineering & Shipbuilding for continuation of development of the PowerBuoy technology and its application in Japanese waters. This development will provide the basis for large scale deployment of the technology in Japan, as the first commercial scale OPT wave power plant in this Asian country.
Cool Planet BioFuels announced that BP Technology Ventures has made an investment in the biofuels startup, as part of the company's C Round of investments. BP has this way joined General Electric, Google Ventures, ConocoPhillips, NRG and North Bridge Venture Partners as investors. GE, NRG and ConocoPhillips have made a joint venture investment company in early 2011, with a plan to invest in 30 venture and growth stage companies, including Cool Planet BioFuels.
Siemens has increased its ownership stake in the marine energy specialist Marine Current Turbines (MCT). The German company now owns 45% of MCT, and strengthens its activities in this renewable energy sector. Having split its former Renewable Energy Division into two separate divisions, one dealing with wind, and another with solar and hydro, Siemens Solar & Hydro, the company has decided to get more involved in the marine energy sector, as MCT progresses from a pioneer to one of the leading marine energy technology companies. Siemens originally invested in MCT in early 2010.
Aqumarine Power announced the company has been granted a GBP 3.4 million investment loan from Barclays Corporate. The agreement is touted to be the first in the UK for a marine energy project, representing a milestone for this industry.
Aquamarine Power officially unveiled the company's latest Oyster version, an800 kW device, the latest generation Oyster to come out of the company's design rooms. The device was unveiled by the Scottish First Minister Alex Salmond. Oyster 800 is the most powerful Oyster device to be built yet, and puts the company further up front in the marine energy industry.
Aquamarine Power has issued an update on the project to install its Oyster wave energy conversion device in Orkney. The device is to be deployed in July this year, and is currently being built by BiFab. It is to be transported by barge to the European Marine Energy Center (EMEC) in Orkney in late July. The jack-up barge, called the Excalibur, arrived in Orkney last week, and is currently stationed in Orkney. It is to begin drilling piles into the seabed, building the foundation for the installation of the second generation Oyster device.
Finnish marine energy developer Wello's wave energy device called Penguin, is being hauled to Orkney, where it will be installed at the European Marine Energy Center (EMEC) for testing. The device has left the Riga shipyard in Latvia, and is now well on its way to reach EMEC early next week. The device itself uses the oscillatory movement of waves on the sea surface, converting it into rotary movement of a flywheel installation with the housing of the device. The flywheel produces torque which turns an electrical generator, also mounted on top of the flywheel structure within the device hull. Check out more device images after the jump.
Greenstart announced the company has begun to officially offer its services to cleantech startups. It is based, you guessed it, in San Francisco. The company is exclusively focused on cleantech startup companies, and will offer startups guidance for growing successfully as next generation clean energy companies. Greenstart's first three-month program will enroll 10 companies, beginning September 21, 2011. Startups that get accepted in this program will each be granted USD 25,000 in investment funding, comprehensive mentoring and networking. Additionally, the company will provide introductions to cleantech angel investors and venture capital investors.
Columbia Power Technologies announced the successful deployment of its SeaRay prototype wave energy device in Puget Sound (Washington, USA). This is an important milestone for the company, which moves the whole project closer to commercial viability. The company has also recently raised both private and government funding for the project.
UK based Minesto (Saab Group spin-off) has received a GBP 350,000 grant from the Carbon Trust for first seagoing trials of the company's seakite technology, called Deep Green. Basically, it's a kite, except it is tethered to the seabed, and it "flies" in a water environment, under the surface of the sea/ocean. The basic principle of its movement is the same as with normal kites, except the fluid that does the work has a much higher density (water), resulting in much greater force exerted on the kite. The tether is attached to a turbine, which spins using the kite's and current's pulling energy.
