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20 Dec 2010 - Neptune Wave Power Signs Licensing Agreement with SAIC

20 Dec 2010 - Neptune Wave Power Signs Licensing Agreement with SAIC

PRESS RELEASE                                                                                    FOR IMMEDIATE RELEASE

For More Information, Contact:
Paulina Valenciano
Neptune Wave Power, LLC
214-444-7061
pvalenciano@neptunewavepower.com

Neptune Wave Power Signs Licensing Agreement with SAIC

Dallas, Texas, December 20, 2010 – Neptune Wave Power, LLC announced today that it had recently signed a Non-Exclusive Patent License Agreement with Science Applications International Corporation (SAIC).  This agreement allows SAIC to explore possible applications of Neptune’s patented technology for converting wave energy into electricity.

“We are very excited about having a Fortune 500 company like SAIC researching the possible development of innovative applications for our patented technology,” said Rene Larrave, Chief Executive Officer of Neptune Wave Power.  “Their reputation for innovation, integrity, and breadth of expertise should provide the basis for a mutually beneficial relationship.”

“We look forward to exploring whether Neptune’s patented intellectual property could be used in wave energy conversion product applications for our customers,” said Peter Mikhalevsky, Senior Vice President, Acoustic and Marine Systems, of SAIC. 

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 www.neptunewavepower.com.

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