Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced the successful first test of its next-generation increased power wave energy converter buoy, the Mass-On-Spring-Wave-Energy-Converter (MOSWEC) prototype.
The company reported that the operational-sized buoy, deployed offshore in New Jersey, has been performing as expected and has already endured storm conditions at sea.
“We are thrilled to announce the deployment of our operational size MOSWEC prototype, which represents a significant advancement in wave energy conversion technology,” said OPT CEO Philipp Stratmann.
“With its smaller size, lower price, sealed design, and increased energy generation capabilities, the MOSWEC prototype is a major step forward in our mission to provide innovative and sustainable marine energy solutions.”
The company highlighted that one of the key advancements of the MOSWEC is its fully sealed design, eliminating all externally moving parts, which further increases reliability and lowers maintenance costs.
This innovation ensures that the energy converter operates efficiently and effectively in marine environments and supports all of OPT’s existing solutions, and expected future integration with vehicles, such as OPT’s WAM-V, which opens up new possibilities for renewable energy generation, ocean security, and other applications in marine environments, according to OPT.
Further, the MOSWEC prototype allows for the integration of wind and solar energy generation, providing increased and diversified energy output compared to its PB3, the company pointed out.
OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets.
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