Resolute Marine Energy, Inc. and Ocean Farm Technologies, Inc. awarded NOAA Phase II SBIR grant

August 21, 2009
The National Oceanographic and Atmospheric Administration today announced that it has awarded Ocean Farm Technologies, Inc. (PI) and Resolute Marine Energy, Inc. a Phase II SBIR grant to continue the development of RME's AirWEC™ wave energy converter, design and build means for incorporating the AirWEC™ into OFT's Aquapod™ aquaculture system, and run extended sea trials of the integrated system in preparation for commercialization

"We're very pleased that NOAA has recognized the value of the work we completed in Phase I but also that it continues to support the development of a robust offshore aquaculture industry," said RME CEO Bill Staby. "Global demand for seafood is increasing, production from capture fisheries is declining, and the world's main fishing areas have reached their maximum potential." "Inland and near-shore aquaculture face a number of challenges so it's inevitable that offshore aquaculture will play a key role in the production of high-value fish proteins." "The ultimate goal is for fish raised in the Aquapod™ aquaculture system to command "sustainable-raised"" premium pricing in the marketplace," Staby concluded

RME is a pioneer in the development and deployment of innovative solutions for producing power at sea. The company is initially focusing on building wave energy conversion (WEC) systems focused on specific commercial and government applications.