Wave Energy Round Up - Report on the Leaders

Here's a round up of stories on three leaders in the wave energy industry: Ocean Power Technologies, Finavera and Pelamis Wave Power (fka Ocean Power Delivery or OPD).

First up, here's an update on OPT has fared since last April's IPO. According to the article, OPT "incurred a net loss of $2.4 million in the first quarter of fiscal 2008 compared with a net loss of $1.7 million in the first quarter of fiscal 2007." But the company is at an "all-time high of $6.9 million in contract backlog," the technology has achieved grid certification from an internationally recognized testing agency and three power buoys are under construction.

Finavera has also been making advancements, as described in this article from Red Herring (9/10/07). In early September, the company deployed the latest version of its wave energy converter known as the AquaBuOY
You can view a video of the launch here.

Finally, Scottish based company Ocean Power Delivery announced that it will change its name to Pelamis WavePower . The company explains that it intends to focus its identity around its distinctive orange, snakelike device known as the Pelamis.
And according to this article, the first phase of a commercial wave energy project in Portugal which uses the Pelamis devices will switch on soon.