Eco Wave Power, OPT establish wave energy alliance

Jaffa Port floaters illustration. Image by Eco Wave Power (www.ecowavepower.com)

January 13 (Renewables Now) - Wave energy developers Eco Wave Power Global AB (NASDAQ:WAVE) of Sweden and Ocean Power Technologies Inc (NASDAQ:OPTT) of New Jersey today announced a collaboration in relation to their complementary technologies and the industry as a whole.

The two firms said they will join forces on several fronts, including knowledge sharing, joint grant submissions and collaborative assistance in entry to new markets. Furthermore, they could work on joint solutions using their respective offshore and onshore offerings.

"OPT's knowledge and understanding of the offshore environment combined with Eco Wave Power's track record of near-shore wave energy conversion (WEC) installations present opportunities to unlock the power in waves,” commented Philipp Stratmann, president and CEO of OPT.

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