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Article: Ocean Power Technologies Project Wins A $66.5m Award from Australian Federal Government.
- Article from:
- Business Wire
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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PENNINGTON, N.J. -- Ocean Power Technologies (Australasia) Pty Ltd ("OPTA"), a subsidiary of Ocean Power Technologies, Inc. (NASDAQ:OPTT)(LSE:OPT) ("OPT") is pleased to announce that, in partnership with Leighton Contractors Pty Ltd ("Leighton"), it has received a A$66.46 million grant from the Federal Government of Australia to build a 19 MW wave power project off the coast of Victoria, Australia.
The award is one of four renewable energy projects approved by the Federal Government after considering over 30 applications, and is the sole wave energy venture.
The Government funding will be used by OPTA and Leighton to advance the construction of a wave ...