Sign in

Private company

Ocean Renewable Power Company

American renewable energy company

Ocean Renewable Power Company (ORPC, Inc.) is an American marine renewable energy company based in Portland, Maine. The company develops technologies which generate electricity from tidal, river, and ocean currents.2 It was founded by Paul Wells.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

Jan 1, 2004Founded1
  • Industrymarine energy1
  • HeadquartersPortland1
  • Websiteorpc.co

See how the biggest companies compare on our leaderboards

ORPC RivGen® 2.0 Power System
Photo: Igiugig Village Council and ORPC, CC BY-SA 4.0, via Wikimedia Commons3

Ocean Renewable Power Company (ORPC, Inc.) is an American marine renewable energy company based in Portland, Maine. The company develops technologies which generate electricity from tidal, river, and ocean currents.2

The story

Founded by Paul Wells on Jan 1, 2004.1

Leadership

Who has led Ocean Renewable Power Company, and when. Pick a name to see everywhere that person has worked.

Timeline

  1. Jan 1, 2004Founded Founded1

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$62.2M 2010–2026
Money received by yearMoney received by year, 2010–2026: $62.2M in all. Federal grants $61.3M; PPP loans $830.4K.$0$5M$10M$15M2010 · Federal grants: $8.4M20102011 · Federal grants: $7.9M2012 · Federal grants: $2.8M20122013 · Federal grants: $500.0K2014 · Federal grants: $4.6M20142016 · Federal grants: $2.4M20162017 · Federal grants: $5.3M2018 · Federal grants: $780.1K20182019 · Federal grants: $549.3K2020 · Federal grants: $1.1M2020 · PPP loans: $425.0K20202021 · Federal grants: $7.3M2021 · PPP loans: $405.4K2022 · Federal grants: $200.0K20222024 · Federal grants: $3.2M20242025 · Federal grants: $14.4M2026 · Federal grants: $1.7M2026
Figures by year
YearFederal grantsPPP loansTotal
2026$1.7M–$1.7M
2025$14.4M–$14.4M
2024$3.2M–$3.2M
2022$200.0K–$200.0K
2021$7.3M$405.4K$7.7M
2020$1.1M$425.0K$1.5M
2019$549.3K–$549.3K
2018$780.1K–$780.1K
2017$5.3M–$5.3M
2016$2.4M–$2.4M
2014$4.6M–$4.6M
2013$500.0K–$500.0K
2012$2.8M–$2.8M
2011$7.9M–$7.9M
2010$8.4M–$8.4M

Federal awards

Obligated amounts from USAspending.gov4, by calendar year, 2010–2026, for 2 registered units, including subsidiaries under the same parent. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest grants

  1. Jun 1, 2024$17.5M from Department of Energy: Renewable Energy Research And Development5 To OCEAN RENEWABLE POWER CO INC Award DEEE0011265
  2. Sep 17, 2010$16.7M from Department of Energy: Renewable Energy Research And Development6 To ORPC MAINE, LLC Award DEEE0003647
  3. Nov 1, 2016$5.3M from Department of Energy: Renewable Energy Research And Development7 To ORPC MAINE, LLC Award DEEE0007820
  4. Feb 1, 2020$3.9M from Department of Energy: Renewable Energy Research And Development8 To OCEAN RENEWABLE POWER CO INC Award DEEE0008948
  5. Oct 16, 2021$3.6M from Department of Energy: Advanced Research Projects Agency - Energy9 To OCEAN RENEWABLE POWER CO INC Award DEAR0001446
  6. Jan 1, 2014$2.9M from Department of Energy: Renewable Energy Research And Development10 To OCEAN RENEWABLE POWER CO INC Award DEEE0006398
  7. Apr 1, 2016$2.5M from Department of Energy: Advanced Research And Projects Agency - Energy Financial Assistance Progra; Advanced Research Projects Agency - Energy11 To OCEAN RENEWABLE POWER CO INC Award DEAR0000658
  8. May 1, 2026$1.8M from Department of Energy: Advanced Research Projects Agency - Energy12 To OCEAN RENEWABLE POWER CO INC Award DEAR0002138

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA13. Matched to this company by name and state.

  1. Apr 7, 2020$425.0K PPP loan (first draw) from Bangor Savings Bank13To OCEAN RENEWABLE POWER COMPANY, INC., Portland ME; $429.3K forgiven Apr 20, 2021
  2. Mar 31, 2021$405.4K PPP loan (second draw) from Bangor Savings Bank13To OCEAN RENEWABLE POWER COMPANY INC, Portland ME; $408.6K forgiven Jan 20, 2022

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13