1. 1 | Program Name or Ancillary Texteere.energy.gov Water Power Peer Review PB500, 500kW Utility-Scale PowerBuoy Project Dr. Philip R. Hart Ocean Power Technologies 1590 Reed Road, Pennington, NJ 08534 609-730-0400 x263 prh@oceanpowertech.com Sept 27, 2011 PB150 (Scotland)

2. 2 | Wind and Water Power Programeere.energy.gov Purpose, Objectives, & Integration This project focuses on the advancement of the OPT PB500 (500kW) PowerBuoy design, from TRL 4 to TRL 5/6. –Design refinement requires extensive engineering and cost analysis, in a relatively short period of time. –Hitting operational characteristics targets are challenging and requires careful analysis of all factors involved in producing, deploying, and maintaining a PowerBuoy of this scale. –Power-Take-Off (PTO) Mechanism subassemblies require risk mitigation testing to ensure that the performance and reliability is as specified. –PTO Mechanism assemblies require risk mitigation testing to ensure that the effect of combining technologies and subassemblies are carefully examined. –Integration of PTO assemblies into the PTO system require risk mitigation to verify operational characteristic and ensure there are no interferences. Solving the problems above allows for the realization of competitive energy pricing in the global marketplace. The results of this project under DOE grant DE-EE0003645 will be used to conduct detailed design, fabrication, and assembly of PB500 PowerBuoy.

3. 3 | Wind and Water Power Programeere.energy.gov Technical Approach The technical approach: –Stage-gated development program with clearly defined stage reviews. –Clearly defined stage deliverables. –Overseen by interdepartmental management and peers prior to proceeding to the next stage (go/no-go decision). Key issues: –New technology adoption at the subassembly and assembly levels may introduce new technical risks –New Modular PTO approach could introduce packaging and arrangement issues –Scale-up increases structure loading. –Scale-up additionally places more emphasis on installation costs and maintenance considerations. Unique approach: –Rigorous subassembly and assembly testing to mitigate subsystem and system technical risks. –Final PTO integration testing to ensure the implementation of new technology and arrangement does not introduce interference and alter PTO operational characteristics. –Highly developed simulations/modeling validated by test. –Extensive wave tank and ocean testing experience.

4. 4 | Wind and Water Power Programeere.energy.gov Plan, Schedule, & Budget Schedule Grant Initiation date: 9/1/2010 Planned completion date: 9/30/2012 FY 2011 Stage Gate 4 (Survival Condition Wave Tank Testing). 8/12/2011. (Complete) Stage Gate 4 (Survival Condition Wave Tank Testing Data Analysis). 9/30/2011. FY 2012 Operational Condition Wave Tank Testing. 12/19/2011. PTO Preliminary Design (OPT SG5) Completion. 2/18/2012 PTO Detailed Design (OPT SG6) Completion. 4/27/2012 Structural and Mooring Concept Design (OPT SG4) Completion. 4/27/2012. PTO Prototype Fabrication, Assembly, and Testing (OPT SG5) Completion. 7/31/2012 Structural and Mooring Preliminary Design (OPT SG5) Completion. 9/30/2012. Go/no-go decision points will be made at the completion of each stage gate identified above.

5. 5 | Wind and Water Power Programeere.energy.gov Plan, Schedule, & Budget Budget: There were no significant budget variances. 6% or $145,593 out of the total grant amount of $2,400,000 has been expended to date (August 31,2011) Budget History/Plan FY2010FY2011FY2012 DOECost-shareDOECost-shareDOECost-share N/A $ 166,267$ 133,014$ 2,233,735$ 1,668,068 Fiscal Year FY11 MonthJul-11Aug-11Sep-11 DOE Budget Plan $ 24,642 $ 120,951 $ 20,674 DOE Budget Cum $ 24,642 $ 145,593 $ 166,267 Fiscal Year FY12 MonthOct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12 DOE Budget Plan $ 41,696 $33,842 $126,668$ 68,657 $144,681 $149,936 $206,966 $ 247,015 $ 336,976 $ 307,394 $ 305,886 $ 264,018 DOE Budget Cum $ 41,696 $75,538 $202,206 $270,863 $415,544 $565,480 $772,446$1,019,461$1,356,437 $1,663,831 $1,969,717 $2,233,735

6. 6 | Wind and Water Power Programeere.energy.gov Accomplishments and Results Technical Accomplishments: –Completion of survival condition wave tank testing, setting the baseline design criteria that must be met (project milestone). –Float geometries set for acceptable modular PTO interface, bounding the float design to allow the use of the MPTO. Benchmark against technical targets: –Above accomplishments do not relate directly to technical targets, however initial cost estimates on current rough design are approaching the specific lifecycle cost targets as defined in the project objectives.

7. 7 | Wind and Water Power Programeere.energy.gov Challenges to Date Most important challenges: –Selection of optimal float geometry –Selection of optimal “mooring” method –Integration of subsystems and systems in PTO Approach to issues or challenges faced: –Largest issue or challenge faced to date is driving the lifecycle cost down while designing a robust, safe, and efficient PowerBuoy. Costs have been driven down through a careful design concept selection process, overseen by cross- departmental team members.

8. 8 | Wind and Water Power Programeere.energy.gov Next Steps Project plans (PB500 Structural and Mooring Design (OPT SG4) under DOE grant DE-EE0003645): Task Name% completeStartFinish Wave Tank Testing – Survival Cond.10007/11/1109/30/11 Wave Tank Testing – Operational Cond. 2008/22/1101/13/11 Tidal Compensation Concept Design 2008/22/1110/14/11 Latching and Locking Concept Design 010/17/1111/11/11 Input Rod & Linear Seal Concept Design 010/24/1111/18/11 Central Cooling System Concept Design 011/07/1112/09/11 PTO Assembly Concept Design 011/07/1112/09/11 Structure and Mooring Concept Design 011/17/1102/17/12 Float Concept Design & Arrangement 002/20/1203/16/12 Ballasting System Concept Design 003/27/1203/23/12 PowerBuoy Deployment Concept Design 003/26/1204/20/12 Conduct Stage Gate 4 Review 004/23/1204/27/12

9. 9 | Wind and Water Power Programeere.energy.gov Next Steps Project plans (PB500 Power-Take-Off Preliminary and Detailed Design- OPT SG 5/6 under DOE grant DE-EE0003645): Task Name% completeStartFinish Assembly of PTO subsystems 010/03/1110/21/11 Risk Mitigation testing of subsystems 010/24/1111/18/11 Assembly of PTO systems011/21/1112/23/11 Risk Mitigation testing of PTO systems001/02/1101/27/12 Conduct PTO Stage Gate 5 Review001/30/1201/31/12 Assembly of PTO Mechanism002/01/1203/30/12 Functional Testing of PTO Mechanism004/02/1205/11/12 Cycle Testing of PTO Mechanism005/14/1207/13/12 Generate PTO Test Report 007/16/1207/27/12 Conduct PTO Stage Gate 6 Review007/30/1207/31/12 –End of project for DOE grant DE-EE0003645 is scheduled for 8/31/2012.

10. 10 | Wind and Water Power Programeere.energy.gov Next Steps Next steps: –Plans for expansion and continuation of all work produced in this project would provide scope for a follow on DOE (or commercial) project. Construction of full-up PTO systems for PB500. Integration and assembly of PTO systems into PB500 unit. Construction of a full scale PB500 structure and mooring. Deployment/installation of the first PB500. Operation, Monitoring and Maintenance of first PB500.