Ocean Power completes test of device for Reedsport buoy

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Ocean Power Technologies is moving closer to deployment of a test wave power buoy off the Oregon Coast at Reedsport. 

Ocean Power Technologies announced Monday that the company had finished testing of a key power device and shipped it off to Oregon Iron Works for installation in the wave energy buoy that will be deployed this summer off the coast of Reedsport.

During testing Ocean Power (NASDAQ: OPTT) simulated a variety of wave conditions and the device, which generates electricity from wave activity, performed as company officials expected it would.

"We expect the PowerBuoy to be ready for deployment off the coast of Reedsport late this summer and look forward to an ocean demonstration that can pave the way for additional units in the region — with the eventual goal of a wave power station serving thousands of local residents and businesses," said Charles F. Dunleavy, CEO of Ocean Power, in a press release.

They deployment of the buoy will involve the work of a number of Oregon companies. Pennington, N.J.-based Ocean Power Technologies officials said last year that OPT plans to spend about $6 million with local companies during the life of the Reedsport project.

Clackamas-based Oregon Iron Works will integrate the power device within the buoy's vertical spar. Vigor Marine of Portland will complete final buoy assembly and testing and one of its dry docks will handle the launch.

OPT officials said the Portland office of the U.S. Coast Guard has approved the buoy's towing plan. Knutson Towboat Company of Coos Bay and Northwest Underwater Construction of Vancouver, Wash., will also play a role in the test buoy's deployment.

The highly anticipated Reedsport test has seen some delays and weather could still sink deployment plans.