25 Jan 2011 - Neptune Wave Power Signs Working Agreement with NNMREC and Oregon State University
PRESS RELEASE FOR IMMEDIATE RELEASE
Neptune Wave Power Signs Working Agreement with NNMREC and Oregon State University
Dallas, Texas, January 25, 2011 – Neptune Wave Power, LLC announced today that it had recently signed an agreement with Oregon State University to evaluate and test its patented technology at the O. H. Hinsdale Wave Research Laboratory. Oregon State University is the leading authority on wave energy and part of the Northwest National Marine Renewable Energy Center (‘NNMREC’). NNMREC serves as an integrated, standardized test center for U.S. and international developers of wave and tidal energy.
“Being able to work with the NNMREC and Oregon State University, the leading experts in wave energy research in the United States, is a great opportunity for Neptune,” said Rene Larrave, CEO of Neptune Wave Power. “Leveraging their technology and expertise to further refine our technology as we begin to deploy around the world is invaluable for our commercialization and risk mitigation efforts.”
About Neptune Wave Power
Neptune Wave Power has developed patented technology that will produce cost-effective commercial quantities of electric power using a generation system harnessing kinetic energy from ocean waves. The generation cost compares favorably not only with that of other generation systems such as wind power or alternative proposed wave energy capturing devices, but with many other conventional power sources as well. Neptune Wave Power is headquartered in Dallas, Texas. For more information, visit http://www.neptunewavepower.com.
About Northwest National Marine Renewable Energy Center (NNMREC)
The NNMREC, established in 2008, is a partnership between Oregon State University (OSU) and the University of Washington (UW) to support wave and tidal energy development for the United States. NNMREC has a full range of capabilities and is structured to support baseline studies, on-going monitoring, and setting the technical, ecological, and human dimensions standards for wave energy projects. The NNMREC also facilitate device commercialization through development of standards for validation and evaluation of devices. For more information, visit http://nnmrec.oregonstate.edu/
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