Dive Summary:

• The U.S. Department of Energy (DOE) is awarding various companies $16 million to support 17 projects focused on capturing power from waves and tides, the DOE announced Wednesday.
• “Wave and tidal energy represent a large, untapped resource,” David Danielson, assistant secretary for energy efficiency and renewable energy, said in a statement.
• So far, the DOE has pinpointed 1,400 potential terawatt-hours of annual generating capacity from the ocean. One terawatt-hour can power roughly 85,000 homes.

From the article:

“The recipients include Ocean Power Technologies Inc. (OPTT), which is developing a power buoy that produces electricity; ABB Ltd. (ABBN), which is building a compact generator; the University of Maine, which is studying the reactions of marine life to power systems; and Dehlsen Associates LLC, which is designing software to predict wave conditions.”