DANISH FLOATING POWER PLANT GETS DEAL

Hybrid Wave/Wind Energy Technology the Focus of New US Oregon Company
April 29, 2011 (Floating Power Plant)

"Floating Power Plant Inc. and Bridgeworks Capital…[have created] a U.S. company, Floating Power Inc., to commercialize the Danish company’s Poseidon Wave/Wind Energy Platform that has successfully demonstrated the capacity to generate both hydraulic power from waves interacting with floats and electricity from wind using turbines mounted on the platform…

"The Danish company has spent over 12 years and approximately US$12 million to develop Poseidon, and data from a two-year, offshore, grid-connected test confirms the platform delivers increased stability and energy conversion efficiency to produce predictable, forecastable and dispatchable production which may reduce the problems of intermittency and approach base load consistency."

(from FPP - click to enlarge)

"The waves off Denmark are ideal for testing, and Floating Power Plant matured the technology during at sea operations. For its next step, the Danes sought an American partner specifically in the Pacific Northwest, where optimal wave conditions, electrical grid availability, preparatory work by the Oregon Innovation Council and Oregon Wave Energy Trust, a cluster of marine universities (including Oregon State University), port infrastructure and the presence of heavy industry offer a favorable climate for commercializing the technology."

(from FPP - click to enlarge)

"The new company is seeking both funding and strategic partners to build and test a Poseidon module meeting exacting environmental, regulatory and engineering requirements somewhere along the West Coast. As conceived, a Poseidon platform scaled for the Pacific Ocean wave resource is expected to be able to transform 30-35% of the energy in waves into electricity…

"Floating Power Plant (FPP) was incorporated in 2004 with a goal of developing renewable hybrid plants using wave & wind energy…[and] owns and holds the rights to the technology…In 2008 FPP launched a 37 meter test- and demonstration plant at an open sea test site in the Southern part of Denmark…[It] has been in operation for two years…"