- Business
- Ocean Thermal Energy Corporation (CPWR) develops, builds, owns and operates ocean thermal energy conversion (OTEC) systems and seawater air conditioning (SWAC) plants that generate renewable baseload electricity, desalinated potable water for human consumption, agriculture, mariculture and aquaculture, and energy-efficient cooling for large commercial properties, utilities, municipalities and military installations; the company also commercializes EcoVillages, which are socially, economically and ecologically sustainable communities powered by fossil-fuel-free electricity and chemical-free cooling systems. Ocean Thermal Energy Corporation serves U.S. military bases in conflict-prone Pacific regions, tropical island nations and coastal communities seeking energy independence from imported diesel fuel; it operates worldwide with a focus on scalable, towable floating platforms for rapid deployment in remote locations. Founded in 1998 and headquartered in Philadelphia, Pennsylvania, the company maintains strategic relationships with DCO Energy LLC and Johnson Controls. In January 2025, Ocean Thermal Energy Corporation secured a $3.5 million contract from Johnson Controls for engineering, planning and design of a 17.5-megawatt OTEC demonstration under the U.S. Army's Deep Energy Retrofit Assessment program at the U.S. Army Garrison Kwajalein Atoll in the Republic of the Marshall Islands, advancing energy resilience and water security for forward-operating military bases.