Lockheed Martin Inks Australian Wave Energy Deal

From Baltimore Sun

Lockheed Martin Corp. announced Tuesday that it signed a contract to develop the world’s largest wave energy project off Victoria, Australia, calling it a “significant step toward making ocean energy commercially available.”

The New Ventures office of Lockheed Martin’s Mission Systems and Training Baltimore site signed the deal with Victorian Wave Partners Ltd. to develop a 62.5-megawatt peak power wave energy generation project.

The project will use a wave energy converter buoy pioneered by Ocean Power Technologies of Pennington, N.J. As the buoy moves up and down on waves, the mechanical energy drives an electrical generator, which is sent to shore through underwater cables.

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