Followers | 1871 |
Posts | 90256 |
Boards Moderated | 1 |
Alias Born | 09/02/2006 |
Friday, June 26, 2020 11:46:27 AM
Groundbreaking Carbon-Free Autonomous Subsea Vehicle Residency Solution Advances
Ocean Power Technologies, Modus Seabed Intervention & Saab Seaeye Project Seeks U.S. Government Funding
MONROE TOWNSHIP, N.J., March 10, 2020 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced that it is working on a groundbreaking solution for carbon-free subsea autonomous underwater vehicle (AUV) residency – long-term, persistent deployment without support from manned vessels – with joint development partners Modus Seabed Intervention and Saab Seaeye.
Ocean Power Technologies’ PB3 PowerBuoy® wave energy converter is pictured with innovative single point mooring integrating power and data transmission connected to a subsea battery solution and autonomous underwater vehicle (AUV) charging station. Developed with Modus Seabed Intervention utilizing a Saab Seaeye Sabertooth AUV, the concept has been submitted for U.S. government development and demonstration project funding consideration.
“We believe a self-contained system powered by an OPT PowerBuoy® and exempt from existing ocean infrastructure has the potential to revolutionize the industrial use of AUVs and make long-term residency a cost-effective reality,” said George Kirby, OPT President and Chief Executive Officer.
“Modus Seabed Intervention’s experience with advanced technology development efforts in subsea docking with Saab Seaeye’s market-leading hybrid AUV (HAUV) enables autonomous offshore operations and we believe it is a natural fit for our environmentally sound PowerBuoy® ocean power and communications technology,” Kirby added. “We’re looking forward to working together to further support the growing offshore electrification market.”
Remote operation without the need for surface vessel support or complex power and data umbilical cable systems to offshore platforms or land has the potential to offer tremendous savings over operations that would otherwise require manned vessels – including long-term environmental monitoring, frequent subsea equipment integrity inspections, and interaction with seafloor assets.
This novel system is designed for carbon-free autonomous offshore operations with the OPT PowerBuoy® power and communications platform at its core. Via an innovative integrated mooring and subsea power/data transmission cable, a PowerBuoy® can provide carbon-free power to a seabed docking station to recharge an autonomous underwater vehicle while enabling secure data transmission to and from shore-based operations located anywhere in the world.
The autonomous resident AUV system concept has been jointly submitted for U.S. government development and demonstration project funding consideration.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc0bdb17-dbd2-48cd-a2b1-545519dbc8a3
Ocean Power Technologies’ PB3 PowerBuoy® wave energy converter is pictured with innovative single point mooring integrating power and data transmission connected to a subsea battery solution and autonomous underwater vehicle (AUV) charging station. Developed with Modus Seabed Intervention utilizing a Saab Seaeye Sabertooth AUV, the concept has been submitted for U.S. government development and demonstration project funding consideration.
“We are delighted to be collaborating with OPT and Saab to utilize the PB3 PowerBuoy® as a localized power and communications source to support low cost and low carbon subsea residency of HAUVs,” said Jake Tompkins, Modus Chief Executive Officer. “As a leader in the application of HAUVs and having been involved in developing subsea residency for some time we are excited to be a part of this innovative program.”
The ongoing electrification of offshore applications finds underwater vehicles increasingly utilized for defense and security surveillance, as well as for seafloor mapping and asset maintenance in oil and gas, as well as science and research. Increasing the length and variety of missions an AUV can undertake can drive down costs and risks, and true autonomous control with access to data in real time is a goal for operators. An autonomously powered interactive docking station independent of traditional infrastructure offers efficiency in routine operations and facilitates timely response to ad hoc events (extreme weather, subsea equipment failure) more rapidly than possible with surface-based vessels.
It is believed that the OPT/Modus/Saab AUV residency system will boast substantial environmental, risk, safety, and cost benefits over incumbent fossil-fuel powered solutions. This system is novel because it’s truly autonomous. Removing vessels and umbilical links to fossil fuel generation drops carbon emissions and relocates personnel onshore, cutting risk and costs while increasing safety.
Recent OPTT News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 08:05:36 PM
- Ocean Power Technologies Successfully Demonstrates Advanced AI Solutions in the North Atlantic • GlobeNewswire Inc. • 05/06/2024 12:15:00 PM
- Ocean Power Technologies Awarded Multi-Year NOAA ProTech Oceans IDIQ Contract • GlobeNewswire Inc. • 04/30/2024 12:15:00 PM
- Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium • GlobeNewswire Inc. • 04/17/2024 12:15:00 PM
- Ocean Power Technologies Announces Teaming Agreement with Major International Defense Contractor to Deploy Maritime Domain Awareness Solutions • GlobeNewswire Inc. • 04/16/2024 12:15:00 PM
- Red Cat Begins Integration of Teal 2 Drones with Ocean Power Technologies Maritime Surveillance Solution for Air, Sea, and Subsea Defense and Security Missions • GlobeNewswire Inc. • 04/09/2024 12:01:12 PM
- Ocean Power Technologies Announces Strategic Alliance with Red Cat for Advanced Maritime Defense Solutions • GlobeNewswire Inc. • 04/08/2024 12:15:00 PM
- Ocean Power Technologies Announces “Merrows”: A Consolidated Solution for Maritime Domain Awareness • GlobeNewswire Inc. • 04/02/2024 01:33:27 PM
- Ocean Power Technologies to Present at the AI & Technology Hybrid Investor Conference Presented by Water Tower Research on April 10 • GlobeNewswire Inc. • 04/01/2024 08:30:00 PM
- Ocean Power Technologies Secures $1.5 Million in Purchase Orders for WAM-V USV's in Latin America • GlobeNewswire Inc. • 03/26/2024 12:15:00 PM
- Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2024 Results • GlobeNewswire Inc. • 03/13/2024 08:15:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 03/07/2024 01:26:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 02:07:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 09:05:26 PM
- Ocean Power Technologies to Report fiscal 2024 Third Quarter Results on March 13, 2024 • GlobeNewswire Inc. • 02/21/2024 09:15:00 PM
- Ocean Power Technologies to Report fiscal 2024 Third Quarter Results on March 13, 2024 • GlobeNewswire Inc. • 02/21/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/14/2024 09:30:35 PM
- Ocean Power Technologies Receives Funding for AT&T 5G-Enabled PowerBuoy® Deployment in Monterey Bay • GlobeNewswire Inc. • 02/14/2024 01:15:00 PM
- Ocean Power Technologies Secures Orders Exceeding $1.25 Million for Fully Integrated WAM-V Unmanned Surface Vehicles • GlobeNewswire Inc. • 02/12/2024 09:15:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/12/2024 09:05:33 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/08/2024 10:23:08 PM
- Ocean Power Technologies Announces Further Adjournment of 2023 Annual Meeting of Shareholders • Business Wire • 02/08/2024 10:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/02/2024 09:15:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/02/2024 09:05:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/02/2024 09:05:31 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM