Tuesday, March 8, 2011

Columbia Power Technologies Gets Funding

Corvallis, Oregon-based Columbia Power Technologies reports today that it has scored private funding for the firm's wave energy conversion technology, along with support from the U.S. government. The firm did not detail any information on the funding, but said is recently demonstrated a prototype of one of its devices in Puget Sound. The firm said its device extracts energy from ocean waves, and provides twice the amount of energy of competing designs. The firm is aiming and commercialization the technology for large scale power generation. The firm is a spinout of technology from the University of Oregon, and was the recent winner of the Oregon Entrepreneurs Network' Venture Northwest Conference in November.