OPT works to speed up PowerBuoy commercialization

Ocean Power Technologies, Inc. (OPT) has formed a Technical Advisory Panel (TAP) to accelerate PowerBuoy® commercialization and market adoption.

The TAP consists of selected potential customers, end-users, technical stakeholders, and scientific consultants from various markets to incorporate a wide spectrum of applications and market requirements.

The six companies that make up the panel include Gardline Marine Sciences, DNV GL, as well as representatives from two major oil & gas operators, a large oil and gas equipment manufacturer and a leading meteorological and oceanographic sensor manufacturer. The University of Western Australia (UWA) Centre for Offshore Foundation Systems (COFS) participates in the TAP by providing scientific advices related to foundation engineering.

The panelists will review and provide critical industry feedback on market and application requirements and test protocols in order to increase speed to market. This long term collaboration is initially focused on the APB350, OPT pointed out.

David “Duncan” Heinz, Chief Operating Officer of OPT and TAP Co-chair, said: “The Technical Advisory Panel is a critical component of our commercialization strategy. It provides a means to communicate timely PowerBuoy® performance feedback and to solicit input from market stakeholders and industry experts about end-user applications in order to accelerate market adoption.

“Our goal is to provide reliable, durable, and cost-effective offshore autonomous power solutions where current solutions are either too costly or unavailable, and will enable many new customer applications. The TAP engages these market participants in the validation and commercialization process, which will help us achieve our objectives faster.”

Dr. Mike Mekhiche, VP of Engineering of OPT and TAP co-chair said: “After the introductory meeting held in early August, we anticipate that the TAP will reconvene every month or two to conduct detailed briefings and solicit feedback on exciting progress in product development and validation. I firmly believe the TAP will develop enduring relationships with great companies that recognize the enabling potential of our products and technologies in solving complex and pressing needs.”

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