After receiving $8.7 million in federal funds to develop wave-to-electricity buoys off the southern Oregon coast, Ocean Power Technologies has packed up and moved to Australia. No worries, mate - they got some of our money as well; nearly half a million, in fact:
The Oregon Wave Energy Trust, a nonprofit, state-financed group, spent $430,000 in state lottery money helping Ocean Power navigate the process of seeking a permit.
Permit in hand, they left us holding an empty bag. Another win for governor Retread!
