Lockheed Martin and Reignwood Group Sign Contract To Develop Ocean Thermal Energy Conversion Power Plant

Lockheed Martin and Reignwood Group have signed a contract to start design of a 10-megawatt OTEC power plant, which, when complete, will be the largest OTEC project to date.

lockheedmartin“The ocean holds enormous potential for terrawatts of clean, baseload energy,” said Dan Heller, vice president of new ventures for Lockheed Martin Mission Systems and Training. “Capturing this energy through a system like OTEC means we have the opportunity to produce reliable and sustainable power, supporting global security, a strong economic future and climate protection for future generations.”

Under this initial contract, Lockheed Martin will provide project management, design and systems engineering services.

“The signing of this contract reflects both companies’ passion for green energy projects, and our willingness as a team to bring forth an exciting new renewable energy source that directly benefits people of all nations,” said Shaohua Liu, senior vice president for Reignwood Group.

Click here for the full press release by Lockheed Martin

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