Last month, Western Australian born and educated Dr George W. Taylor, Executive Chairman of Ocean Power Technologies received the 2009 Renewable Energy Navigator Award from the Foundation for Ocean Renewables.

Last month, Western Australian born and educated Dr George W. Taylor, Executive Chairman of Ocean Power Technologies (NASDAQ:OPTT, AIM:OPT), received the 2009 Renewable Energy Navigator Award from the Foundation for Ocean Renewables.

The award was presented to Dr. Taylor at the 2nd Annual Global Marine Renewable Energy Conference recently held at the Carnegie Institute for Science in Washington, DC.

The honour sponsored by the Foundation for Ocean Renewables, a non-profit, non-government organization which promotes energy technologies using renewable ocean resources was given in recognition of Dr. Taylor's service in promoting the responsible commercialization of marine renewable energy.

Dr. Taylor is recognized as a pioneer and leader in the development and establishment of wave energy technology for his work over the past 25 years. He co-founded Ocean Power Technologies, Inc., and under his leadership OPT has become one of the world's major wave power companies. His earlier career included research, development and commercialization of liquid crystal displays, and piezoelectric and ferroelectric materials and devices.

Commenting on Dr Taylor's award, OPT (Australasia) Director Gilbert George said OPT had developed its technology and key alliances around the world, including Lockheed Martin in the US, Griffin Energy in Western Australia, and Leighton Contractors in other parts of Australia. West Australian based investment bank Azure Capital played a key early role in raising venture capital.

On top of this announcement, yesterday the World Wildlife Fund Australia (WWF) released a report jointly with another great Australian wave energy developer, Carnegie Corporation, on estimates that wave energy will create about 3,210 Australian jobs by 2020, increasing to 14,380 jobs by 2050.

Carnegie Corporation reports that near-shore wave energy can provide about four times Australia's current national power needs, and wave energy could be easily providing enough clean electricity to power 1.2 million households within a decade.

'With 90% of Australians living close to the coast, harvesting wave energy provides an opportunity to deliver emissions free renewable energy to most Australians,' says Dr Ray Wills, WA SEA Chief Executive.

'Ramping up use of Australia's massive wave energy resources will create new opportunities for business and employment, diversify and grow Australia's industry base, and create a more robust environment for business and a more sustainable economy,' says Dr Wills.

'All we need now is legislative support on a renewable energy target to provide certainty to investors, and ensure the rapid growth of energy sources for the 21st Century."


WA Sustainable Energy Association Inc. (WA SEA) Media Release - 19 June 2009

Not just waving - Western Australian receives US award for service to renewable energy.

Media Contact:
Dr Ray Wills 0430 365 607

Editors notes:
1. Foundation for Ocean Renewables http://foroceanrenewable.typepad.com/
2. Ocean Power Technologies (OPT) http://www.oceanpowertechnologies.com/
3. Carnegie Corporation http://www.carnegiecorp.com.au/
4. The Western Australian Sustainable Energy Association Inc. (WA SEA) is a chamber of businesses boasting a growing membership of 250 industry members from a diversity of businesses, and now the largest state-based industry body of its kind in Australia. www.wasea.com.au.