Tremendous potential exists for clean energy in waves and tides. Lockheed Martin is leveraging its experience and expertise with maritime systems to design and develop wave and tidal power systems. Lockheed Martin’s strength is combining technology, systems, services and industry teams to create original solutions. To make this vision a reality, we are pursuing strategic relationships with technology leaders.
Wave power generates electricity using special buoys that use the rising and falling of ocean waves to generate electricity. Lockheed Martin has partnered with Ocean Power Technologies, Inc. (OPT), a leader in wave energy development, to design and produce OPT’s PowerBuoy® technology. Lockheed Martin recently signed a contract with Victorian Wave Partners Ltd. – an Australian special purpose company owned by Ocean Power Technologies Australasia Pty Ltd. – to develop a 62.5-megawatt peak power wave energy generation project – the world’s largest announced to date – in Victoria for the Australian government.
Tidal power generates electricity using underwater turbines designed to capture the kinetic motion of ebbing and surging ocean tides. Lockheed Martin provides tidal turbine design, component production and system integration in support of Singapore-based Atlantis Resources Corporation (ARC). Lockheed Martin and ARC are partnering on projects in several countries, including the UK and Canada.