American wave-powered buoy reaches the Adriatic
- Business & Finance
US-based Ocean Power Technologies (OPT) has shipped its PB3 PowerBuoy to Italy for the upcoming deployment for oil and gas operations in the Adriatic Sea.
The shipment marks OPT’s first deployment into the oil & gas sector as the PB3 buoy will be used for Eni’s subsea operations.
The PowerBuoy will be used to demonstrate subsea battery charging and is intended for stand-alone charging and communications for long-term remote operation of AUVs.
OPT will also provide deployment support, remote data collection and monitoring to the Italian oil & gas giant as part of Eni’s Clean Sea initiative, according to OPT.
George H. Kirby, President and Chief Executive Officer of OPT, said: “The shipment marks an important milestone for our company and in our partnership with Eni. This partnership represents OPT’s first commercial agreement and deployment in the oil and gas market and in Italy and the Adriatic Sea, and we look forward to working with Eni to further develop this new application.
“We believe the shipment to Eni creates opportunities for additional applications related to subsea charging for applications such as underwater unmanned vehicles, well monitoring and decommissioning in the oil and gas industry.”
At the conclusion of the initial 18-month lease, and upon meeting technical metrics, Eni will have the option to either extend the lease for an additional 18 months or purchase the PB3 PowerBuoy, OPT noted.