Columbia Power Technologies, US wave developer, is competing for funding at Willamette Angel Conference.
The funding is provided from the angel investors that are made up from current and former executives, entrepreneurs, and venture capitalists who look to invest in companies primarily in Oregon’s Willamette Valley and surrounding regions.
Columbia Power Technologies, Oregon-based wave energy developer, is amongst the 10 companies competing for this year’s funding in the amount of USD 300.000.
Columbia Power has developed the StingRAY wave energy converter that works by capturing the energy of the waves with floats that move forward and backwards.
The energy is transferred to two rotary generators that produce electricity onboard the device.
The company plans to deploy its StingRAY wave energy device at the US Navy’s Wave Energy Test Site (WETS), off Hawaii.
The deployment is scheduled to start in 2016, and last for a minimum of 12 months.
Willamette Angel Conference has so far invested over USD 1.5 mln in Oregon companies and Willamette Valley entrepreneurs.
Willamette Angel Conference 2015 will take place on May 14, at CH2M Hill Alumni Center – Corvallis, Oregon State University, Oregon.
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Image: Columbia Power Technologies