Accounting Customer service Hiring & human resources Legal Management Raising money Sales & marketing Selling a business Startup Technology Small & Global How We Got Started Biz Books Innovators Owner Tested Tech Edge Best Bosses Next Little Thing Startup Showdown Current Issue Archive
4 of 5
BACK NEXT
Harnessing the ocean's power
Researchers at Oregon State University say that only 0.2% of the ocean's untapped wave energy could power the entire world.

Prototypes of wave and tide machines, with various technological designs, are being tested throughout the world. These technologies include wave generators and free-floating power buoys that use waves for energy. One promising U.S. company is Ocean Power Technologies of Pennington, New Jersey, which received a $12 million contract from the U.S. Navy to install its electricity-generating buoys in the waters off Hawaii to power a Marine base there. The company is also undertaking demonstration projects for Lockheed Martin and is working on projects in France, Scotland, and Spain.

In its most ambitious project to date, Ocean Power has set its eyes on the wave-rich Oregon coast. Ocean Power founder George Taylor, a former surfer who grew up in Australia, plans to put his first 30-acre wave power farm off the shore of Reedsport on Oregon's central coast. When completed in 2008, this installation is projected to provide enough power for 2,000 homes, but the ultimate goal is enough electricity for 50,000.

NEXT: Mirrors in the desert

LAST UPDATE: Jul 01 2008 | 1:08 PM ET
Sponsored by
More Galleries
Holiday gifts for the yoga nut These 7 small brands are helping fuel a booming yoga industry. More
Not ready for takeoff Why 7 flying car startups are still grounded. More
Next Little Thing 2010 Wireless electricity. Invisible speakers. A mind-reading headset. See what's coming in 2010. More
Sponsors

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.