Under the agreement, OPT will provide its project and site development expertise, build the power take-off and control systems of the plant, and provide its PowerBuoy® technology. Lockheed Martin will provide construction, systems integration and deployment of the plant, as well as operations and maintenance services.

OPT’s autonomous PowerBuoy will be integrated with Lockheed Martin’s acoustic sensors, signal processing and communications systems.

OPT's PowerBuoy wave generation system uses a ‘smart’ buoy to capture and convert wave energy into electricity. The prospective wave power project between Lockheed Martin and OPT is expected to be off the coasts of either California or Oregon.