OPT Makes Eni Delivery
- Business & Finance
Ocean Power Technologies said it has shipped its PB3 PowerBuoy to Ravenna, Italy for Eni deployment and use in its subsea operations.
OPT will also provide to Eni deployment support, remote data collection and monitoring.
Since signing in March 2018, OPT and Eni have attained several key milestones such as payload integration and testing of buoy systems.
George H. Kirby, President and CEO of OPT, said: “This 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.”
The OPT PowerBuoy will be deployed in the Adriatic Sea to advance Eni’s Clean Sea initiative using AUVs.
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. 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.