Ocean Power Collaborates With Lockheed Martin on Wave Energy

Ocean Power Technologies Inc. (OPTT) said it agreed to collaborate with Lockheed Martin Corp. (LMT) on a commercial-scale wave power generation project at Reedsport, Oregon.

The venture follows a $2.4 million contract awarded to Ocean Power from the U.S. Department of Energy, according to a statement on Business Wire today.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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