The Ocean Energy Institute (OEI) operates a not-for-profit think tank and venture capital fund addressing the challenges of U.S. offshore renewable energy.
Located in Rockland, Maine OEI approaches energy R&D and investment from a systems point of view, and covers generation, usage, storage and transmission which it views as an interdependent set of opportunities and a driving force of the international economy.
The Gulf of Maine is considered by many to offer great potential for wind energy. The state is also the home of the University of Maine currently undertaking the nation’s first deepwater turbine construction under a grant from the US Department of Energy (DOE).
OEI plans to fund and acquire promising ocean energy companies and technologies for investment purposes, including businesses involved in: deepwater floating turbine design, carbon-free ammonia production and its use as an alternate fuel, and desalination.