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The Oregon Wave Energy Commercialization (OWEC) Program accelerates the commercialization of ocean energy technologies developed by businesses that perform their work in Oregon. The program focuses on advancing a company’s Technology Readiness Level (TRL) according to U.S. Department of Energy guidelines and creating partnerships between industry and Oregon’s supply chain. The commercialization collaborations catalyzed by OWET stimulate Oregon’s economy and advances technology toward commercial viability and deployment.
The Commercialization Program supports promising ocean energy technologies that are at an early stage development. The program seeks to assist researchers, inventors, and entrepreneurs in activities that might include proof-of-concept demonstrations, laboratory validations, prototype development, small-scale pilot programs, technology trials, or market validation. These activities are designed to achieve the following objectives:
OWEC helps commercialize technologies primarily focused on wave energy. The Commercialization Program has two main elements: 1) Commercialization Grants and 2) Commercialization acceleration support services provided by Oregon Wave Energy Trust staff and partners.
The goal of the grant program is to accelerate the development and deployment of innovative ocean energy technologies to provide a domestic source of clean, affordable energy that is both economical and ecologically responsible. OWET aims to further the sponsorship of current and necessary research, development, testing, evaluation, and demonstration of these emerging technologies, in order to effectively generate renewable and cost-effective electricity from ocean resources. Commercialization Grants help bridge the gap between traditional R&D funding sources and the availability of private investment. Grants can assist with activities such as licensing fees, permitting requirements, and site-specific feasibility studies.
The commercialization acceleration support services connect ocean energy companies with Oregon university graduate programs, supply chain, and industry partners to assist in making the transition through the technology readiness levels to commercial viability. OWET provides consulting and mentorship to assist in the areas of strategic business development, engineering, prototype testing, and intellectual property. OWET leverages a wide range of entrepreneur support services available from other entities and provides a focal point for the development of ocean energy devices and companies from start-ups to mature corporations.
OWET commercialization partners include:
If you would like additional information about how your company can utilize the services and opportunities offered through the OWEC Program, please contact Oregon Wave Energy Trust at: email@example.com