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ORPC: A Sea of Opportunity through Innovation

MTI Awards: Development Award, Accelerated Commercialization Award, Maine Technology Asset Fund

Captain Paul Wells thought often about the power of ocean currents during his career as a cruise industry executive. After retiring in 2004, he attended the first EnergyOcean conference and approached one of the presenters with a question, “How would I go about starting a company fo­cused on generating electricity from ocean currents?” And the idea for Ocean Renewable Power Company (ORPC) was born.

Today ORPC is based in Portland, with additional offices in Eastport, has attracted significant private capital and employs about 20-22 people including 15 full-time staff and several consultants. To get to this point, Wells used the advice he was given in 2004 to develop a business plan and then recruited John Cooper and Chris Sauer, seasoned entrepreneurs in cogeneration, energy conservation and renewable power, to his cause.

The three began the venture out of Wells’ Florida home and quickly realized that there was tremendous potential in tapping ocean current energy. The initial idea was to package and sell existing commercial equipment for ocean current projects, but it became apparent no such equip­ment existed, and they decided to change strategy, invest and develop the technology themselves. Maine was an ideal place to do this, given the state’s considerable tidal power resources, particularly in the Bay of Fundy, off Eastport.

MTI provided ORPC with several awards and an invest­ment that provided the much-needed capital to research and develop their proprietary technology to the point where they could attract external investment. MTI’s sup­port was also instru­mental in the compa­ny’s decision to locate their headquarters in Maine, and the com­pany is benefiting from that decision by partnering with nearly 30 local businesses to fabricate, assemble, deploy and maintain their equipment and make ocean energy a viable industry here. The company believes that support for project development starts and ends locally.

This philosophy has allowed ORPC to access capital in a challenging investment climate and move towards com­mercialization more efficiently. Their team works simul­taneously to license sites and develop and build the tech­nology so that when the equipment is ready, the sites are ready for installation and operation. This approach, combined with getting local busi­nesses as partners and community buy-in for the projects, makes the process as seam­less as possible and lays the groundwork for long-term success. And that is what ORPC is banking on.

President and CEO Chris Sauer has ambi­tious goals for job growth and investment. He believes that by commercializing OR­PC’s proprietary technology and getting the necessary federal licenses they’ll be able to obtain capital from outside of Maine to grow business inside the state and develop and ser­vice sites globally. The initial demonstration project will serve as an example of what’s possible with this technology and show investors that tidal energy is a sure bet. The company has put Maine on the ocean energy industry map, and has attracted companies from other countries to visit Eastport and see their turbine system in the water.

The road to success hasn’t been without its bumps, and there is still a long way to go. “We’ve turned a 100-foot putt into a 50-foot putt,” notes Sauer. He credits their suc­cess to their team’s commitment, willingness to take risks, and revise and improvise.

He also offers some advice for entrepreneurs: “Focus and be committed. If you have serious doubts about what you’re doing, don’t do it. Lead your team and give the in­dividuals the respect they deserve – they are your greatest, and maybe only, asset.”

Renewable energy’s future is bright, but even this sector has been impacted by the recession. ORPC admits that they would have grown more quickly without the downturn. However, the company is still expanding and is responsible for 50-60 positions being created or retained across seven Maine counties since 2007. They are working closely with the state’s world-class composite sector and creating even more career opportunities for young Mainers.

At the 1009 global EnergyOcean Conference, held in Rockland, ORPC received two prestigious awards that recognized the company’s innovation. The Company Pio­neer Award was given for their success in making ocean energy commercially viable; Patrick McGinnis, Director of Systems Engineering, received the Technology Pioneer Award for the innovation and technical viability of the core component of the Ocean Current Generation (OC­Gen™) Turbine Generator Unit (TGU). The company has quickly become an industry leader and is helping to make Maine a leader in renewable energy technology. 


Ocean Renewable Power Company, LLC.
120 Exchange Street, Suite 508
Portland, ME 04101
(207) 772-7707

22 Washington Street
P.O. Box 152
Eastport, ME 04631
(207) 221-6250

www.oceanrenewablepower.com

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