Ocean Thermal Energy Corporation (OTECorporation) is a pre-revenue, development-stage company building proprietary technology for two types of renewable energy systems. The first is Ocean Thermal Energy Conversion (OTEC), which generates electricity by exploiting the temperature difference between warm surface ocean water and cold deep ocean water. OTEC plants can also produce desalinated water as a byproduct, but the technology is geographically limited to tropical and subtropical regions. The second is Seawater Air Conditioning (SWAC), which pumps cold deep water to provide air conditioning for large buildings, replacing conventional electric chillers. OTECorporation targets governments, utilities, military bases, resorts, and municipalities in tropical regions, selling directly through executive relationships. Its one active project is an OTEC plant for a U.S. Navy base in the South Pacific, funded through a DoD contract. OTECorporation plans to earn development fees of roughly 3% of project cost at financing close, then retain majority equity in projects and collect revenues under long-term 20-30 year power purchase or energy service agreements. The company does not plan to operate plants itself, subcontracting operations to third parties. Each project requires roughly $150M-$445M in upfront capital that OTECorporation does not currently have. The company has two full-time employees, no revenue, and no completed commercial projects.