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.
Residents of Igiugig, a Native village far from roads and off the grid, have tried for years to wean themselves off the diesel that fuels their electrical system. It’s expensive — and polluting. A World War II-era propeller plane delivers the fossil fuel, priced up to $7.55 a g...