US-based ocean energy developer Ocean Power Technologies (OPT) has signed a letter of intent to enter into long-term supply agreement with NEC Energy Solutions for its subsea battery products.
Under the terms of the supply agreement, NEC Energy Solutions will supply lithium ion batteries for OPT’s subsea storage solutions which complement the company’s core PowerBuoy wave energy technology.
Last month, OPT expanded its product line to include subsea battery solutions that will provide sea floor energy storage for offshore operations.
NEC Energy Solutions is engaged in the business of designing, manufacturing, and integrating smart energy storage solutions for the electric grid and for applications with critical power needs, with an interest in providing their energy storage solutions for remote marine applications.
George H. Kirby, President and Chief Executive Officer of OPT, said: “As we actively market our battery solutions with recharge capabilities from our PowerBuoy products, NEC Energy Solutions provides us the confidence in offering what we believe will be a very high quality and desirable subsea battery technology.”
Steve Fludder, Chief Executive Officer of NEC Energy Solutions, added: “We are excited to be partnering with OPT in powering their subsea battery solutions, which represents a new frontier for NEC into marine applications.”
OPT’s subsea battery solutions will enable the powering of subsea equipment, sensors, and communications, and the recharge of autonomous underwater vehicles (AUV) and electric remotely operated vehicles (eROV), according to OPT.
They can power sensors, chemical injection systems, and even electric trees and control systems, which regulate the flow of oil, chemicals, and water and gas injection and disposal, the company claims.