Australia's Oceanlinx Enters Receivership Following Accident, Missed Deadlines

PERTH, AUSTRALIA--April 15, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Wave-power pioneer Oceanlinx Limited (Sydney, Australia) has entered receivership during the installation of its 1-megawatt (MW), single-unit wave energy converter. The commercial-scale unit was damaged en route to its destination: Port MacDonnell, South Australia. Oceanlinx had planned to locate the wave energy converter up to four kilometers offshore Port MacDonnell. It would extend 10 meters above the water surface.