OPT Signs Agreement with AltaSea to Advance Wave Power Projects

(Image credit: Port of Los Angeles)

Ocean Power Technologies, Inc. (OPT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, announced it has signed a Memorandum of Understanding (MOU) with AltaSea at the Port of Los Angeles (AltaSea). The joint aim is to explore exciting opportunities within the Blue Economy. This agreement follows a recent visit to AltaSea by Philipp Stratmann, CEO and President of OPT.

Philipp Stratmann, CEO and President of OPT expressed his enthusiasm about this MOU, stating, “As we continue our growth, we are excited to partner with AltaSea to explore supporting the group of companies developing and deploying marine energy and Blue Economy technologies and projects here in the Port of Los Angeles. We are also excited about the opportunities for staging our renewable energy PowerBuoys and WAM-V unmanned surface vehicles at AltaSea for other projects in the Pacific Ocean.”

Jade Clemons, Director of the Blue Sustainable Economy Alliance at AltaSea, added, “We couldn’t be more pleased to welcome OPT to the AltaSea wave and tidal energy coalition. There’s extraordinary potential and extraordinary need for marine energy in California as the state strives to meet its clean energy goals. The experience and expertise OPT brings to the space will be valuable to advancing the industry as a whole, statewide.”

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