Sean McComish writes the companies intend for the renewable energy source to help power navy bases and maritime surveillance programs.
The project is scheduled to start in 2014 and up to 28 buoys will be submerged underwater by 2017 which are meant to generate 62 megawatts, according to the report.
“Lockheed Martin is our delivery partner. They decided that renewable energy is a very important part of defense for the United States,“ Dr. George Taylor, OPT chairman, told The Standard.
“In times of war the shipment of fuel and oil can be a strategic problem and US bases want to be as independent as they can,“ he added.
According to the article, the Australian Defense Force is not yet involved in the project.
“The energy is a lot more consistent than it is in wind,“ Taylor said.
“Thirty-five to 40 per cent of the time you can produce a significant amount of (wave) energy but for wind it“™s 20 to 25 per cent,” he added.