Facebook Twitter LinkedIn Google Plus RSS

Ocean Power reportedly drops Australian project

By ,

Ocean Power Technologies, a Pennington wave-energy company, reportedly canceled its plans to build a renewable-energy project in Australia.

According to Bloomberg News, Victorian Wave Partners, the company’s Australian unit, terminated the $217 million project to deploy PowerBuoys off the coast of Victoria. Bloomberg said a filing with the U.S. Securities and Exchange Commission said the project was not “commercially viable.”

The company fired Chairman and CEO Charles F. Dunleavy in June.


Three N.J. hospitals listed among area's best in U.S. News rankings

Sandoz headquarters in Plainsboro sells for $64M

Morgan Stanley hopes Newark program improves kids' wellness

Also Popular on NJBIZ

Write to the Editorial Department at editorial@njbiz.com

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy