PORTLAND — Ocean Renewable Power Company will receive $750,000 in federal Recovery Act funding, U.S. Senator Olympia Snowe (R-Maine) announced today.

According to the Department of Energy, the Portland-based company will use the funds to study the properties of underwater turbines. Those turbines have demonstrated the potential for operating as an effective environmentally safe ocean energy device. The project will also help identify the best turbine designs and manufacturing processes for commercial scale production.

Small businesses were selected for the DOE awards on the basis of the scientific and technical merits of their proposals.

“I could not be more delighted that the Ocean Renewable Power Company received this vital funding from the Energy Department, which will help make Maine a leader in renewable energy,” Snowe said in a statement.

Snowe is the ranking member of the U.S. Senate Committee on Small Business and Entrepreneurship.