Ocean Power Technologies, Inc. today announced that the Company has received a $2.6 million contract from Mitsui Engineering & Shipbuilding Co., Ltd. (“MES”) to provide the final design and supply of key components of a PowerBuoy system intended for deployment off the coast of Japan to demonstrate its utility application in local sea conditions. This […]
Ocean Power Technologies, Inc. and Mitsui Engineering & Shipbuilding Co., Ltd. today announced that they have signed a new agreement to cooperate in the development and commercialization of OPT’s PowerBuoy® technology. Building on the successful work previously done together by the companies, this agreement sets forth the terms of technology licensing and other financial arrangements […]
Ocean Power Technologies, Inc. today announced the successful in-ocean operation of an acoustic sonar system integrated with its APB-350 Autonomous PowerBuoy®, marking an important expansion of the system’s maritime surveillance capabilities. In addition to the sonar’s ability to detect sub-surface vessels, the three-week demonstration off the coast of New Jersey under a previously announced U.S. […]
Ocean Power Technologies Ltd (OPT), the world-leading supplier of moored, floating buoys that harvest energy from waves, announced that it has chosen Offshore Europe to launch its PowerBuoy technology into the global oil and gas sector. Already demonstrated in the defence, renewables and utilities sectors, The PowerBuoy is capable of delivering energy from a few […]
Ocean Power Technologies, Inc. (“OPT” or “the Company”) announced the deployment off New Jersey of its innovative autonomous wave energy device, marking an important milestone in the roll-out of the Company’s Autonomous PowerBuoy® (“APB”) product line. This latest deployment, 35 miles off the coast and in 43 meters of water depth, is in connection with […]
Ocean Power Technologies, Inc. (OPT), a leading wave energy technology company, announced the formation of an Autonomous PowerBuoy Business Unit within the Company. This new group will target and develop opportunities in the large potential market for OPT’s non-grid-connected PowerBuoys. While OPT continues actively to pursue its grid-connected Utility Systems business, the new business unit […]
Ocean Power Technologies, Inc. (“OPT” or “the Company”), a leading wave energy technology company, today announced that the Company has received a ¥70 million (approximately US $900,000) contract from Mitsui Engineering & Shipbuilding (“MES”) for further work towards development of the Company’s PowerBuoy technology for application in Japanese sea conditions. Under this contract, OPT will […]
