Ocean Thermal Energy Corporation Announces $7,650,000 Equity Offering

logo-oteToday, Ocean Thermal Energy Corporation (OTE)  announced that the Company has launched its $7,650,000 Equity Offering of the Company’s Common Shares pursuant to the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that enacts many initiatives to encourage business growth, job creation, and support the United States’ economic advancement. OTE is offering 9,000,000 Shares of its Common Stock for $0.85 per share ($7,650,000 in the aggregate).

click here for the full press release

US DOE funds OTEC development, finally

US DOE funds OTEC development, finally
OTECDoug Carlson points out that the US Department of Energy will be financing water based energy projects with $7million. Most of the projects are either hydropower or wave power projects, but Lockheed Martin Corporation is doing a validation of “manufacturing techniques for coldwater pipes critical to OTEC in order to help create a more cost-effective OTEC system”. University of Hawaii has been given money to “facilitate the development… Continue reading

OCEES International and Diego Garcia OTEC

In the recent article in Wired about OTEC, OCEES International is mentioned to not only have secured funding from “Pentagon” to build an OTEC at Diego Garcia, but also design the OTEC pipe for the Saipan project in the article. However, after asking Stephen Oney, Vice president at OCEES, he tells me that Wired overstated the situation. They are working on a preliminary design of an OTEC for the the Office of Naval Research. Stephen… Continue reading

Wired on OTEC

OTECW.R. Hale and Phil Kopitske tells us that Wired Magazine has an article about OTEC in the form of a profile of NELHA founder Dr. John Craven, of The Common Heritage Corporation (CHC). It is interesting to see that CHC supposedly have a deal with venture capital firm Alpha Pacific for $75m to build a community on Saipan, supposedly using OTEC as part of the power and fresh water supply system. The community will… Continue reading

US DOE releases 20 year strategic plan

The United States Department Of Energy has released a new 20 year ‘plan of action’ blueprint for scientific research in a number of energy related fields. Top priority is re-joining the ITER initiative which is a global project to create a nuclear fusion test facility. Other areas include: Molecular biology, advanced computing facilities, matter research and environmentally friendly alternative energy sources. President Bush recently re-affirmed his commitment to a hydrogen based economy in his State… Continue reading

Fuel cell buses – for real!

Clean Urban Transport for Europe (CUTE) is a European Union project to test three fuel cell buses each in nine cities in Europe. The project cooperates closely with Reykjavik, Iceland and with Perth, Australia, who are running ‘sister’ projects. Three busses each will be running in Amsterdam, Barcelona, Hamburg, London, Luxemburg, Madrid, Porto, Stockholm and Stuttgart. The project is running from 2003 to 2005, during which time the Mercedes-Benz CITARO fuel cell busses, the infrastucture… Continue reading

Support the OTEC Foundation

Your support will help us grow!