(ORPC Press Release) Portland, Maine, February 7, 2017 – Ocean Renewable Power Company (ORPC), a global leader in hydrokinetic power systems and project solutions, announced today that it is instituting a new management approach to advance company growth and capitalize on new opportunities. Effective today, Chris Sauer is transitioning from “President & CEO” to “Cofounder & CEO,” and John Ferland is being promoted to “President & COO.”
In making the announcement to investors, major partners and staff, Chris Sauer noted, “The responsibilities of day-to-day company management and the requirements of securing new investment and developing essential strategic partnerships are very large and critical undertakings for one person to manage effectively and efficiently. We are very lucky to have such a qualified and quality leader as John Ferland on our team to step up and move us forward seamlessly steering ORPC operations.”
Currently ORPC has on-going, funded projects totaling $16 million, while at the same time, is actively pursuing exciting new opportunities in high cost power markets, notably in Québec, where forming essential partnerships is the key to success. “Our future growth and, ultimately, our profitability depends on excellence in execution,” further remarked Sauer.
Underscoring ORPC’s growth, Nate Hayes and Matt Wilson have joined ORPC’s engineering team. ORPC Ireland now employs two full-time and one part-time staff, and James Donegan has been promoted to Lead Electrical Engineer and Director of European Operations. Abbey Manders remains as Vice President of Finance & Administration and Jarlath McEntee as Vice President of Engineering & CTO.
ORPC now has twenty-two employees working in three countries and on two continents. In addition to company headquarters in Portland, Maine, an operations center in Eastport, Maine, and a project office in Anchorage, Alaska, wholly-owned subsidiaries of ORPC are located in Montreal (Énergies Marines Renouvelables Québécoises, or EMARQ) and Dublin (ORPC Ireland).
Worldwide ORPC is the only company to have built, operated and delivered power to a utility grid from a hydrokinetic tidal project (in Maine), and to a remote community grid from a hydrokinetic river project (in Alaska). ORPC is committed to working with local partners and creating local economic opportunities. For more information visit http://www.orpc.co.