Ocean Power Technologies Announces Successful Completion of Its Lease Stage Gate Review and Significant Product Performance Validation Milestones
PENNINGTON, N.J. -- Ocean Power Technologies, Inc. (NASDAQ:OPTT) (“OPT” or the “Company”) announced today the successful completion of the pre-requisite stage gate review with Mitsui Engineering and Shipbuilding (“MES”), which allows OPT to proceed with the PB3 shipment to Japan.Â- OPT also announced its operational performance validation for two PB3 PowerBuoys® currently...
Read More »Ocean Power Technologies Announces New Contract with the U.S. Department of Defense Office of Naval Research
PENNINGTON, N.J. - Ocean Power Technologies, Inc. (NASDAQ:OPTT) (“OPT” or “the Company”) announced today that it has been awarded a contract (or “Contract”), valued at nearly $250,000, by the U.S. Department of Defense Office of Naval Research (“ONR”) to conduct the design of a new mass-spring oscillating PowerBuoy for mission critical sensors.Â- Such a PowerBuoy differs...
Read More »Ocean Power Technologies Announces the Deployment of its First Commercially Designed PB3 PowerBuoy®
PENNINGTON, N.J. - Ocean Power Technologies, Inc. (NASDAQ:OPTT) (“OPT” or the “Company”) announced today the deployment of its commercial design of the PB3 PowerBuoy® approximately four miles off of the coast of New Jersey.Â- The commercial PB3 incorporates multiple enhancements over early prototypes including a redesigned power take-off (“PTO”), a high-capacity, modular...
Read More »Ocean Power Technologies Announces the Deployment of its PB3 PowerBuoy with Integrated Payload from National Data Buoy Center
Ocean Power Technologies Announces the Deployment of Its PB3 PowerBuoy with Integrated Payload from National Data Buoy Center PENNINGTON, N.J. - Ocean Power Technologies, Inc. (NASDAQ:OPTT) (“OPT” or “the Company”) announced today that it has re-deployed the PB3-A1 PowerBuoy® (“PB3 PowerBuoy” or “PB3-A1”) off the coast of New Jersey after completion of necessaryÂ- ...
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Read More »Ocean Power Technologies Partnered with the National Data Buoy Center
PENNINGTON, N.J. -Â- Ocean Power Technologies, Inc. (Nasdaq:OPTT) today announced that it is partnering with the National Data Buoy Center (“NDBC”) under a Cooperative Research and Development Agreement (“CRADA”) to conduct ocean demonstrations of its innovative Self-Contained Ocean Observing Payload (“SCOOP”) monitoring system integrated into OPT’s APB350 PowerBuoy®....
Read More »Ocean Power Technologies, Inc. Announces APB350 (A1) PowerBuoy Achieves Significant Performance Milestones
Ocean Power Technologies, Inc. Announces APB350 (A1) PowerBuoy Achieves Significant Performance Milestones PENNINGTON, N.J.Â- – Ocean Power Technologies, Inc. (Nasdaq:OPTT) today announced that its APB350 (A1) PowerBuoy® has achieved several significant milestones. Total cumulative deployment time has exceeded 125 days and energy generated has surpassed 1,000 kWh...
Read More »OPT Announces Redeployment of APB350 (A1) PowerBuoy and Selected Performance Data Gathered During Initial Deployment
PENNINGTON, N.J. - Ocean Power Technologies, Inc. (Nasdaq:OPTT) today announced that it redeployed the APB350 (A1) PowerBuoy off the coast of New Jersey and resumed sea trials. OPT is also releasing selected performance data gathered during the A1's initial deployment as well as initial results of the Accelerated Life Testing ( ALT") on its redesigned APB350 Power TakeOff ("PTO") system....
Read More »Ocean Power Technologies Successfully Deploys APB350 PowerBuoy Off the Coast of Atlantic City, New Jersey
PENNINGTON, N.J. - Ocean Power Technologies, Inc. (Nasdaq:OPTT) ( OPT" or "the Company") announced today that it successfully deployed its APB350 A1 PowerBuoy approximately 14 miles northeast of Atlantic City, New Jersey. The APB350 A1 contains an improved Power Takeoff (PTO) system compared to the APB350 that was deployed in 2011 in connection with the U.S. Navy's Littoral Expeditionary...
Read More »Ocean Power Technologies Successfully Deploys PB40 PowerBuoy Off the Coast of New Jersey
OPT PB40 PowerBuoy heads for deployment with New York City skyline in the background PENNINGTON, N.J.Â- – Ocean Power Technologies, Inc. (Nasdaq:OPTT) ( OPT" or "the Company") announced today that it has successfully deployed its PB40 PowerBuoy off the coast of New Jersey. The deployment is OPT's first since late 2013 and is a critical step in its intensified efforts to commercialize...
Read More »Ocean Power Technologies' PB40 PowerBuoy Receives Final Permit Approvals for Deployment
PENNINGTON, N.J.Â- — Ocean Power Technologies, Inc. (Nasdaq:OPTT) ( OPT" or "the Company") announced today that the PB40 has received final permit approval from the New York District Army Corps of Engineers. In addition, after receiving permit approval, the Company has also provided the required notice periods to the U.S. Coast Guard and other parties involved in the permitting process....
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