AOE Receives 2014 Innovation Award

AOE Accumulated Ocean Energy Inc. (AOE) received the 2014 Innovation Award presented by the Victoria Chamber of Commerce at the black tie event held at the Fairmont Empress on April 24th , 2104.

“This is a great honour and all of us at AOE are excited for the recognition,” stated AOE CEO Jim Matei, “We have worked hard over the past 18 months at getting a prototype launched and really driving our technology forward.”

The Innovation Award honours a business that exemplifies successful innovation; demonstrates vision in the development of new technologies, products and/or services; and demonstrates the ability to take risks. The award was decided by an impartial panel of five judges who cast a secret ballad so it was a surprise to all in attendance at the event. AOE was up against stiff competition this year with the BC Cancer Agency – Vancouver Island as the other finalist.

AOE’s Ocean Buoy Array System (OBAS) highly compresses air from cylinders and pipes it to reservoirs to be stored indefinitely. The compressed air can later be used to power machinery producing electricity, hydrogen gas, potable water, aquaculture and oxygenation. AOE systems support marine life habitat creation, atmospheric cleaning and carbon capture.

Originally founded in February 2013; AOE has assembled a diverse group of professionals with a keen interest in seeing AOE and its’ technology succeed. On September 2013 an 1/8 scale prototype was launched in the Sooke Basin and with very little wave action immediately produced compressed air.

Press Release, April 30, 2014; Image: aoecanada