Ocean Thermal Energy Corporation
Ocean Thermal Energy Corporation (OTE), with offices and personnel in Hawaii, Pennsylvania, and Washington, D.C., is focused on the immediate commercialization of Ocean Thermal Energy Conversion (OTEC), the only current sustainable solution to global needs for baseload (24/7) electricity. As a world OTEC leader, OTE expects to announce projects to soon build, own and operate two land-based 5-10 MW OTEC plants in the Caribbean. OTE now has a signed Term Sheet to build, own and operate the world’s largest deep ocean Seawater District Cooling (SDC) facility in the Caribbean, reducing the customer’s energy consumption by an estimated 90%. As a rapidly expanding company, anticipating an IPO in 2012, OTE brings its own full financing to projects, requiring no customer capital costs. Projects can also include the ancillary OTEC industries of potable water and aquaculture production.