Lockheed is partnering with Victorian Wave Partners, LTD, an Australian company owned by Ocean Power Technologies Australasia Pty Ltd., a developer of “wave energy” technology. The value of Lockheed’s investment has not been revealed, but the project is based on OPT’s PowerBuoy system’s “smart” buoy to convert wave energy into electricity.
“Lockhead will be applying their design and system integration expertise to commercialize promising, emerging alternative energy technologies, including ocean power,” stated Tim Fuhr, director of ocean energy for Lockheed Martin's Mission Systems and Training business.
The alternative energy project is scheduled to be built in three stages. Find out more from IW's companion site, americanmachinist.com
