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Ocean Thermal Energy Corporation Announces Significant Progress in EcoVillage
Ocean Thermal Energy Corporation Announces Significant Progress in EcoVillage.
About this update from Ocean Thermal Energy Corp.
[{"type":"text","content":"Ocean Thermal Energy Corporation Announces Significant Progress for First EcoVillageLancaster, PA – February 26, 2018 – Ocean Thermal Energy Corporation (OTCQB: CPWR) (“OTE” or “the Company”), a project developer for Ocean Thermal Energy Conversion (OTEC) renewable energy plants, announced today that it has made significant progress on the development of its first OTEC EcoVillage in the U.S. Virgin Islands.OTE Announces Significant Progress for OTEC EcoVillageOTE has obtained the U.S. Virgin Islands’ Public Service Commission regulatory approval for an OTEC plant, and OTE has identified the specific plots of land for the site. The first draft of the Master Plan for the entire development has been completed.The OTEC EcoVillage project consists, in part, of an OTEC plant which will provide all power and water to about 400 residences, a hotel, and shopping center, as well as models of sustainable agriculture, food production, and other economic developments. OTEC EcoVillage will be the first development in the world offering a net-zero carbon footprint.This will be OTE’s pilot project, launched to prove the viability of OTEC technology to provide affordable renewable energy for entire communities. The Company believes this $700 million project could be highly profitable and generate significant value for its shareholders.After six years of significant investment into OTEC research, the development of proprietary, trade secret technology, and the assembling of an exceptional management, engineering, and consulting team, the Company is now positioned to accelerate the implementation of technology for projects in the U.S., the Caribbean, the Asia Pacific region, and eventually worldwide.About OTEC and SWACSupporting the efforts for more sustainable living of nations around the world, OTEC and SWAC technologies drastically reduce the output of carbon emissions and produce renewable energy and clean water for drinking, aquaculture, and agriculture without the use of fossil fuels. This translates to slowing down climate change and cleaning up our atmosphere for a healthier planet for all.OTEC plants generate renewable energy by “harvesting” the heat in ocean water and using that heat to warm liquids with a low boiling point (such as ammonia) so that steam is produced. The steam is then pressurized so that it ca...