Oregon Wave Energy Trust Seeks Submissions for Its 2012 Ocean Energy Fast Pitch Competition

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For the first time, early stage technology developers will have the ability to “pitch” their technologies to a panel of judges in hopes of winning up to $10,000 worth of cash and in-kind support and services from OWET and ocean energy industry partners.

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One of the largest barriers to innovation in this field is financing. OWET’s goal in creating the Ocean Energy Fast Pitch Competition is to provide early business support to encourage innovation and emerging ocean energy developers.

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In conjunction with the seventh annual Ocean Renewable Energy Conference in Portland, Oregon, Oregon Wave Energy Trust (OWET), a non-profit organization working to promote the responsible development of ocean energy in Oregon, today announced it has begun seeking submissions for the 2012 Ocean Energy Fast Pitch Competition.

For the first time, early stage technology developers will have the ability to “pitch” their technologies to a panel of judges in hopes of winning up to $10,000 worth of cash and in-kind support and services from OWET and ocean energy industry partners.

“One of the largest barriers to innovation in this field is financing. OWET’s goal in creating the Ocean Energy Fast Pitch Competition is to provide early business support to encourage innovation and emerging ocean energy developers,” stated Jason Busch, executive director of OWET. OWET has a particular interest in identifying new technologies and developers with an interest in pursuing testing and/or project development in Oregon.

All early stage wave energy technology developers with a Technology Readiness Level (TRL) of four or below are encouraged to submit an application for the competition. Applicants interested in competing in the 2012 Ocean Energy Fast Pitch Competition must register online and submit their application by August 16th, 2012. Contestants will be judged not only on the strength of their pitch, but also on the potential feasibility of their technologies.

OWET’s university partners, including industry experts from Portland State University, Oregon Institute of Technology, and Oregon State University, will select the top five finalists to compete in the September 26th event where they will each have five minutes to make their pitch to a panel of judges. The winner will be announced the following day, September 27th.

The top five finalists will have full access to the Ocean Renewable Energy Conference (a $425 value), and the opportunity to display a poster featuring their technology at OWET’s booth in the conference’s exhibit hall.

Registration and application information is available at http://www.oregonwave.org

Questions about the 2012 Ocean Energy Fast Pitch Competition should be sent to Matt Sanders at msanders(at)oregonwave(dot)org

About Oregon Wave Energy Trust
Oregon Wave Energy Trust (OWET) – with members from fishing and environmental groups, industry and government – is a nonprofit public-private partnership funded by the Oregon Innovation Council since 2007. Its mission is to promote the responsible development of ocean energy in Oregon. We serve as a connector for all stakeholders involved in wave energy project development – from research and development to early stage community engagement, final deployment and energy generation and job creation – positioning Oregon as the North America leader in this nascent industry and delivering its full economic and environmental potential for the state. OWET’s goal is power two Oregon communities with ocean energy by 2025.

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Cate Millar

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