Ocean Energy Institute Founder to Present at UMaine

Contact: Roberta Laverty, (207) 581-2121; Aimee Dolloff (207) 581-3777

ORONO, Maine – Matthew Simmons, founder of The Ocean Energy Institute in Rockland, Maine, will present “The Dawning of Ocean Energy: Our Last Frontier” at 1 p.m. Friday, April 9, at Wells Conference Center at the University of Maine.

Simmons, chair emeritus of the energy investment banking firm Simmons & Company International, founded The Ocean Energy Institute in 2007. A think-tank and venture capital fund addressing the challenges of U.S. offshore renewable energy, The Institute’s main focus is to research and develop renewable energy sources from all aspects of our oceans.

Not only are the world’s high quality crude oil declining, water scarcity also is beginning to create widespread alarm.

Simmons notes a correlation between water and gasoline and electricity production, and thinks offshore wind may be the answer.

The Institute is working closely with UMaine’s AEWC Advanced Structures and Composites Center, aiming to prove that offshore wind can be economically transformed into electricity that can either be sent back to the grid or turned into desalinated sea water and liquid ammonia which could replace petroleum used in transportation.

The presentation is free and open to the public.