A new report released today by Oregon Wave Energy Trust analyzed the infrastructure needs of ocean renewable energy in Oregon. The report found that Oregon has an immense amount of capability to develop and deploy wave energy technology in Oregon coastal waters.

OREGON WAVE ENERGY TRUST RELEASES REPORT

Wave Energy Infrastructure Assessment in Oregon

PORTLAND, Oregon, March 25, 2010 - Oregon Wave Energy Trust announces the release of the Wave Energy Infrastructure Assessment in Oregon, completed by Advanced Research Corporation, an expert in the areas of marine studies and applications, including renewable energy technology and ocean observation.

Oregon Wave Energy Trust commissioned a gap analysis to assess the infrastructure needs of ocean renewable energy in Oregon and compare those needs against the existing and planned infrastructure capabilities in Oregon. The Wave Energy Infrastructure Assessment in Oregon report summarizes the results of the assessment performed by Advanced Research Corporation and is intended to serve as a reference resource for a variety of readers: suppliers, wave energy developers, state and regional governments, economic development authorities, and educational institutions.

The report includes information on the infrastructure needs of wave energy developers worldwide and identifies Oregon's capabilities in the wave energy industry. Specific needs that are referenced in the final report include: manufacturing, transportation, assembly, deployment, operations, maintenance, and recovery. Advanced Research Corporation also included a list of recommendations for various Oregon stakeholders, agencies, and organizations to address potential gaps in the industry.

According to John Lavrakas, president, Advanced Research Corporation, "As a result of the information gathered we conclude that Oregon has tremendous infrastructure capability to develop and deploy wave energy technology, not only into Oregon coastal waters, but also throughout the Pacific Northwest. Furthermore, there is more Oregon can do to prepare itself for this emerging industry."

The report concludes that infrastructure jobs will result from the development of wave energy in Oregon, but in the early stages many of those jobs will be sporadic. As with most new industries, it will take time for a steady stream of workforce activities to develop as the industry transitions from the test and demonstration phase to full commercial deployment. The final report identifies a set of prioritized, recommended actions to resolve infrastructure gaps and support the development of wave energy products and services in Oregon.

"Oregon Wave Energy Trust is pleased to release the Wave Energy Infrastructure Assessment as one of 17 completed project reports that will be made available to the public. The report validates the possible economic potential for the state and provides invaluable information to guide our efforts to responsibly develop the wave energy industry in Oregon", stated Jason Busch, executive director, Oregon Wave Energy Trust.

For more information about Oregon Wave Energy Trust (OWET), please visit www.oregonwave.org.

For more information about Advanced Research Corporation, please visit www.oregonarc.com.

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About Advanced Research Corporation

Advanced Research is an Oregon-based business providing expertise in air, marine, space, and land technologies. We specialize in satellite navigation technologies, and marine studies and applications, including renewable energy technology and ocean observation.

About Oregon Wave Energy Trust

Oregon Wave Energy Trust (OWET) - with members from fishing and environmental groups, industry and government - is a nonprofit public-private partnership funded by the Oregon Innovation Council in 2007. Its mission is to serve as a connector for all stakeholders involved in wave energy project development - from research and development to early stage community engagement and final deployment and energy generation - positioning Oregon as the North America leader in this nascent industry and delivering its full economic and environmental potential for the state. OWET's goal is to have ocean wave energy producing 2 megawatts of power - enough to power about 800 homes - by 2010 and 500 megawatts of power by 2025.