Company director Stuart Davies will become head of the renewable energy company following co-founder Chris Sauer's retirement on Jan. 20.
One of Portland’s most well-known entrepreneurs has announced his retirement, just months after helping his energy company land $11 million in financing.
Maine-based ORPC has closed on commitments for $7.5 million in private equity, allowing it to expand its business development and sales focus in the US, Canada and Chile, and according to management, position the company for growth and profitability.
Portland’s Ocean Renewable Power Co. won a nearly $4 million federal grant to advance its technology to harness power from rivers.
Congresswoman Chellie Pingree (D-Maine) today announced that the Dept, of Energy is awarding ORPC a grant of $3,875,859 to develop innovative hydropower technology. The company will develop hydropower turbines that fit the specific constraints of rivers.