The company is currently working on mooring lines for the buoy, and will soon deploy the system.

The 40kW-capable self-powered wave energy harvesting system will gather operating performance and wave data for up to one year.

Ocean Power Technologies president and CEO George Kirby said: "We believe this deployment will enhance dialogue with potential customers and partners interested in enabling and cost-effective energy solutions for their offshore energy needs.

"We appreciate the investment made by the DOE’s Water Power Program in 2010, as well as investments made by the European Union to support the PB40 development and to advance the US marine renewable energy industry."

The company expects the project to strengthen its expertise in use of the various sizes of renewable Marine Hydrokinetic devices.

The devices are designed to provide grid independent power for customers in the ocean observing, offshore wind, oil & gas, and security and defense markets.

Ocean Power expects to receive approvals to install its APB-350 A1later this year.