Ocean Power Technologies (OPT) will be working with a consortium of European companies to advance the energy conversion system of OPT’s PowerBuoy device through the development of a new wave prediction model.

The new technology will be installed at an existing mooring site at Santoña, Spain.

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The technology will enhance the efficiency of patented PowerBuoy wave energy systems under the company’s existing $3m WavePort project.

According to the company, the new system will increase the power output of the PowerBuoy and reduce the cost per megawatt hour of energy produced.

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