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World’s Largest Commercial Ocean Current Energy Project to be Developed by OceanBased in Partnership with Florida Atlantic University

Project to tap into Florida Gulf Stream’s 45 terawatt hours per year of persistent renewable energy

Published by: My Social GoodNews

Press Release – BOCA RATON, FLORIDA, Wednesday, May 29, 2019: OceanBased Perpetual Energy, LLC (OceanBased) has signed a Memorandum of Understanding with Florida Atlantic University’s Southeast National Marine Renewable Energy Center (SNMREC) to assist the company to develop the world’s largest commercial ocean current energy project. The Memorandum of Understanding establishes a mutual interest and agreement between the two entities for the development of the project.

The goal of the project, which plans to focus on an area off the southeast coast of Florida, will be the installation of hundreds of megawatts (MWs) of ocean current generating equipment. The equipment is planned to be installed below the sea surface, below the deepest drafts of any seagoing vessels, and connected to the U.S. transmission system.

The initial phase of OceanBased’s project will focus on verifying compatibility between generation and subsea transmission equipment. Installation of up to 1MW of shore-connected capacity is expected to follow, reaching up to 20MW within as few as five years.

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