Ocean Power Technologies Inc. climbed to a 19-month high after installing its first power-generating buoy designed for commercial use, off the coast of New Jersey. Ocean Power gained 75 percent to $8.29 at the close in New York, the highest since December 2014. The shares rose 61 percent Thursday after announcing the deployment of its PB3 PowerBuoy. Chief Executive … [Read more...]
We Sail the Ocean Blue, but We’re Going Green, Too
USS Carl Vinson Strike Group, Exercise Tandem Thrust 2003, US Navy Photo WASHINGTON (Dow Jones) Rear Adm. (Ret.) Robert James's characterization of the Navy's pursuit of alternative fuels and energy technologies displays a serious misunderstanding of the department's commitment and rationale behind these important efforts ("Of Mustard Fuel and Marines," op-ed, Aug. 2). He … [Read more...]
London Array OffShore Wind Farm Sees First Foundation Installed
LONDON (Dow Jones)--DONG Energy, E.ON AG (EOAN.XE) and Masdar said Tuesday that the first of 177 foundations has been installed at the U.K.'s multi-billion pound flagship offshore wind farm London Array that will be the largest offshore wind farm when it is commissioned next year. The monopile, which provides the base for the wind turbine, was supplied and installed by joint … [Read more...]
Petrobras To Double Biofuels Production With Eye On Global Shipments
Will the waterways soon be flooded with biofuel tankers? Brazilian state-run energy giant Petrobras (PBR, PETR4.BR) will spend $3.5 billion over the next four years to more than double biofuels output, positioning the company to take advantage of global demand for clean, renewable sources of energy. "We are preparing for a global scenario in which the demand for biofuels … [Read more...]
Gamesa, Northrop Grumman Shipbuilding Launch Offshore Wind Technology Center
Gamesa Technology Corp., a global wind energy leader, and the shipbuilding operations of Northrop Grumman Corp., America's largest shipbuilder, yesterday launched the Offshore Wind Technology Center to jointly develop the next generation of offshore wind systems that will be deployed in the United States and around the world. Plans call for the development of North America's … [Read more...]
US Will Target Four Sites For Offshore Wind Leases By 2012
WASHINGTON - Wind energy projects off the coasts of four U.S. states will be fast-tracked for approval, top Obama administration officials said this week. Energy Secretary Steven Chu and Interior Secretary Ken Salazar announced $50 million in funding for wind energy research and development and designated four areas off the shores of Delaware, Maryland, New Jersey and … [Read more...]
Navy shows off the green ‘Riverine’
[U.S. Navy photo by Mass Communication Specialist 2nd Class Gregory N. Juday/Released] Last week, the U.S. Navy showed off the power and maneaverability of its 49-foot experimental Riverine Command Boat (RCB-X) in Norfolk, VA. But what's unique about the RCB-X is not only what you can see from the outside, but by what, at least in part, powers it; algae. That's right. The … [Read more...]