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Ocean Power Takes Step Toward First Commercial U.S. Wave Farm

Ocean Power Technologies Inc., a New Jersey-based marine technology developer, reached agreement with 11 federal and state agencies that draws it closer to installing the first commercial wave farm in the U.S.

Ocean Power’s agreement with the agencies covers issues including water quality, recreation, crabbing and fishing, the company said today in a Business Wire statement. The deal is a “major step” toward getting the first wave farm license ever issued by the Federal Energy Regulatory Commission, it said.