Lockheed Martin, the Bethesda, MD-based security and aerospace conglomerate, has agreed to build what will soon become the world’s largest wave energy project about three miles off the southern coast of Australia.
The 62.5-megawatt wave energy generation project is projected to generate enough electricity to power 10,000 homes when construction is complete.
Ocean Power Technologies is the brains behind the project’s PowerBuoy technology, a wave energy converter technology that extracts energy from the surface motion of ocean waves. . . .