Ocean Power Technologies 2017-08-05T16:56:33+00:00

Ocean Power Technologies (OPT) makes products that convert wave energy into electricity. OPT was founded in 1994, and was listed on AIM in 2003 before obtaining its NASDAQ license. For many years it received significant funding from different government agencies in the USA and Europe, and introduced various products of different sizes for both on-grid and off-grid usage. OPT’s current product, the Powerbuoy 3, is a small generator designed to power isolated equipment in the oil & gas, defense & security, ocean observation & communication sectors. OPT employs 30 people and is based in Pennington, New Jersey, USA,

Exchange: Nasdaq (OPTT)

Financial Data from Exchange website: Nasdaq summary

Recent Financial Report: Annual report to June 2016 and others

Further Information:
The Powerbuoy 3 (PB3) is a floating system, anchored to the sea floor down to 3000 metres. The float moves vertically up and down on a spar in response to wave motion. This movement is connected mechanically so as to drive an electrical generator. The average daily power generated depends on the site but is quoted as being up to 2 kilowatts. Power can be stored on board, which helps to guarantee 300 watts during days or weeks with no wave activity.

A production version of the PB3 was first deployed mid-2016. It is not clear how many have been produced since then. So far most, if not all, have been produced as part of contracts with the US Department of Energy, the EU wave port project and Mitsui Engineering,

Contact Details:
OPT Inc,
1590 Reed Road,
Pennington,
NJ 08534,
USA

(head office to move late 2017 to Monroe, New Jersey)

Tel +1 609 730 0400

CEO: George H. Kirby

CFO: Matthew T. Shafer

Website: http://www.oceanpowertechnologies.com

Short description: Power buoy wave technology – USA

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