Oregon Wave Energy Trust

Oregon Wave Energy Trust Offers Industry Matching Grant Program

May 21st, 2010

For the Development of Wave Energy Projects in Oregon

PORTLAND, Oregon, May 21, 2010 – Oregon Wave Energy Trust (OWET) announced today that it will provide a matching grant to any successful applicant to the Department of Energy’s recent Funding Opportunity Announcement (FOA), who performs a significant portion of their proposed DOE project in Oregon. The OWET matching grant will be equal to 20 percent of the DOE grant, up to $100,000.

The OWET matching grant program is intended to supplement the Department of Energy’s recent FOA (number DE-FOA-0000293), which has made up to $38,000,000 available over the next three years for marine hydrokinetic research and development. OWET hopes to improve the chances of Oregon’s homegrown wave industry, as well as attract companies from other parts of the country and world.

In total, $400,000 is available for the OWET matching grant program. Recipients will receive a commitment letter from OWET that the recipient can provide to the DOE. The OWET matching grant funds will be dependent upon the applicant successfully receiving an award from the DOE.

For more information about the Industry Matching Grant Program or to download a copy of the RFP, please visit the RFP page on our Web site. OWET encourages interested parties to contact OWET at info@oregonwave.org. The solicitation process is now open and closes June 7, 2010.

Download the release (PDF)

Reaching Out

Did You Know?

Oregon is a leader in wave energy.

Oregon focuses on a collaborative model for getting wave energy projects in the water.

That Oregon’s Coastline is among a few places in the world that has the key elements to tap into wave energy?

That Oregon can enjoy an abundance of energy generated by ocean waves?

That our state contains internationally- recognized experts who are leading efforts to responsibly develop wave energy?

That Oregon has capacity to build, maintain and deliver sustainable wave energy power to the grid?

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Why support Oregon Wave Energy Trust?

Wave energy is one key part of the comprehensive alternative energy solution for Oregon. And thanks to a combination of unique characteristics is the only source of energy where Oregon enjoys such a clear competitive advantage. As a result, Oregon’s wave energy industry provides myriad opportunities to deliver significant economic benefits to the state.

Oregon Wave Energy Trust (OWET) works closely with our state- wide stakeholders: fishing and environmental groups, coastal communities and industry, government agencies and other partners in responsibly developing this new industry while establishing Oregon as the North American leader in wave energy. The work that we do is the real benefit we offer our members.

Our Founding Partners

Oregon Wave Energy Trust was funded in part with Oregon State Lottery Funds administered by the Oregon Business Development Department. It is one of six Oregon Innovation Council initiatives supporting innovation and long term economic growth.