Monday, October 04, 2010
Their start-up company has won a $240,000 award from the U.S. Department of Energy and a $60,000 matching award from the Oregon Wave Energy Trust, a nonprofit group that receives funding from the state. The grants will help determine whether M3 Wave Energy can create a commercially viable product.Read more at StatesmanJournal.com.
Unlike buoys that harness the energy of ocean waves on the surface, the system developed by M3 Wave Energy is completely submerged. The company's technology falls under a category of wave energy converters known as a "submerged pressure differential device."