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Article: Ocean Power Technologies and Lockheed Martin Developing Utility-Scale Wave Power System.
- Article from:
- PR Newswire
- Article date:
- October 13, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MOORESTOWN and PENNINGTON, N.J., Oct. 13 /PRNewswire/ -- Lockheed Martin and Ocean Power Technologies, Inc. (OPT) have signed a commercial engineering services agreement to develop OPT's wave energy systems for use in future utility-scale power generation projects.
Under the agreement, Lockheed Martin will provide its expertise in systems integration, lean manufacturing, and test and optimization analysis to enhance OPT's innovative PowerBuoyA' wave power generation technology to utility-scale. This critical step will allow the two companies to pursue future utility-scale power generation projects in North America. The companies agreed to collaborate on such ...