![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, June 11, 2009 9:04:47 AM
December of 1998- Through an appropriation of $50,000 from the Hawaii State Legislature, 100 delegates from throughout the world met to craft a plan to build a floating platform powered by OTEC. The conference recommended the development of a multi-use floating base, a retrofitted oil platform that would have as its center a commercial, oil-based power plant with a minimum size of 150 MW. Associated would be an international research component to allow for a small OTEC plant to provide upwelled fluids for next generation fisheries and marine biomass R&D, hydrogen and biofuels production, tourism opportunities and defense and environmental research.
The capital cost would be a quarter billion dollars, “only” half the cost of the ocean platform of 1992 mentioned above. Well, first, the local utility, behind the scenes, complained that this was not on their planning timetable, then, potential funders got scared away by the large investment sum with minimal profit potential. Maybe most importantly, a local architect, Dennis Toyomura, the sparkplug who got the legislated funds for the University of Hawaii, passed away. In reality, very little developed, as $100 million projects just scare off potential financial supporters.
Finally, in June of 2006, signs of life from other quarters suddenly appeared at the Hawaii Aquaculture Conference. First, Michael Rubino, NOAA’s Manager of Aquaculture Program, as the kick-off speaker, waxed euphorically on the benefits of marine aquaculture. He, furthermore, indicated that he was taking signals from the Secretary of the Department of Commerce (NOAA reports to Commerce), Carlos Gutierrez, who supported the expansion of activities in this area. This was the very first time that any combination of government officials spoke in public for next generation fisheries. The fact that Hawaii Senator Dan Inouye subsequently became chairman of the Senate Committee on Commerce, Science, and Transportation, which had authorization authority over the Department of Commerce, one would think, will become useful.
Finally, in 2007, three separate 100 MW OTEC projects were floated for Honolulu. The first group was Sea Solar Power International (SSPI), headed by Bob Nicholson and represented in Hawaii by Mel Chiogioji, a former USDOE official, who originally came from Hawaii, attained an admiral’s rank in the Navy Reserve and went on to form a successful consulting company. SSPI was originally founded by Hilbert Anderson, as earlier mentioned, and every decade or so, Bob returns with the promise of financial support.
This time the Abell and Weinberg Foundations out of Baltimore were to provide funds, guaranteed by AON Risk Insurance Company, for the first 100 MW demonstration / commercial OTEC plant. The Weinberg Foundation, actually, was created by Harry Weinberg, a Hawaii businessman. Negotiations are supposedly being carried out with the Hawaiian Electric Company and Honolulu Board of Water Supply. On September 13, 2006, HECO had a full page ad in The Honolulu Advertiser entitled, “Working together, let’s capture the ocean’s power in our energy mix.” I have hopes that Bob will make it this time.
Joining the fray was Lockheed Martin, which in 1979, under the leadership of James Wenzel, built and tested Mini-OTEC, the very first OTEC power plant to produce net-positive electricity. The Lockheed team, now commanded by Ted Johnson out of D.C., has also proposed a 100 MW system. The significance of their entry is that a major aerospace firm has designs to become a player in the development of this technology.
Element79 Gold Corp Appoints Warren Levy to Board of Directors • ELMGF • Aug 28, 2024 9:51 AM
Integrated Ventures Announces Strategic Entry Into Health & Wellness Industry with Focus on GLP-1 Products • INTV • Aug 28, 2024 8:30 AM
ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • ELMGF • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM