Columbia Power Technologies Secures Governmental and Private Funding, Deploys Wave Power Device in Puget Sound

CORVALLIS, Ore.--(BUSINESS WIRE)--Columbia Power Technologies, Inc. (www.columbiapwr.com), a leading renewable energy company in Oregon that is commercializing its wave energy conversion technology, has successfully deployed its first SeaRay prototype in Puget Sound. These sea trials represent a key milestone in moving from the pre-commercial stage toward commercial viability. Additionally, the closing of Columbia Power’s recent private capital signifies excellent validation of the company’s vision and technical development capabilities.

“The SeaRay is performing beyond our expectations and tracking well with modeling predictions”

“The clear progress we have made in our technology readiness has been accomplished as a result of an outstanding team of engineers and partners,” said Bradford Lamb, president and COO of Columbia Power Technologies, Inc. “With the support of the U.S. Department of Energy, the U.S. Navy, and the Oregon Congressional Delegation and by following a disciplined technology development roadmap, we are able to accelerate our commercialization path.”

The device, code-named SeaRay, represents the first wave power technology of its kind and is capable of extracting up to twice the amount of energy from ocean waves compared with other technologies under development. Additionally, this unique design is able to produce power in adverse sea conditions, allowing higher and more energy conversion throughout the year. Columbia Power Technologies’ goal is to deliver megawatt-scale devices, capable of operating in the widest range of temperate zone coastal load centers around the globe.

“The SeaRay is performing beyond our expectations and tracking well with modeling predictions,” said Reenst Lesemann, CEO of Columbia Power Technologies. “Our task is to demonstrate to utilities and independent power producers that we can help them deliver power predictably, reliably, and at a cost that is competitive. At this stage, we are making this happen in a very rapid and capital-efficient manner."

Columbia Power Technologies’ vision was to develop a simpler, more reliable and more efficient device — the SeaRay accomplishes this through its heave- and surge-energy capture design, accessing the full potential of the wave. This innovative approach is a breakthrough in wave energy technology because it can survive and produce electricity in extreme weather conditions, is more dependable, and is easier to maintain, all the while generating a smaller environmental footprint than other renewable energy solutions. To see the SeaRay in action, please visit: http://www.snipurl.com/searay

The world’s oceans are estimated to contain enough practically extractable energy to provide over 6,000 terawatt hours of electricity each year, which is enough to power over 600 million homes and is worth over $900 billion annually.

About Columbia Power Technologies, Inc.

Columbia Power Technologies, Inc., is an emerging leader in the wave power industry. The company is commercializing a third-generation wave energy device using novel direct-drive permanent-magnet generator technologies. The company's design philosophy emphasizes survivability and simplicity with an ability to deliver energy at a competitive cost. Founded in 2005 with technology licensed from Oregon State University, the company is a member of the Greenlight Energy Resources, Inc., family of renewable energy companies and has primary R&D facilities and operations in Corvallis, Oregon, with administrative support in Charlottesville, Virginia. For more information, visit www.columbiapwr.com.