OPT

Ocean Power Technologies (Nasdaq:OPTT) is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. OPT specializes in advanced autonomous (not grid connected), cost-effective, and environmentally sound ocean wave based power generation and management technology. The PowerBuoy system integrates patented technologies in hydrodynamics, electronics, energy conversion, and computer control systems to extract the natural energy in ocean waves. The result is a leading edge, ocean-tested, proprietary autonomous system that turns wave power into reliable, clean, and environmentally beneficial electricity for offshore applications. Wave power is abundant in all areas of the world and its harnessing offers a dependable clean source of renewable and cost effective energy. OPT’s PowerBuoy converts such energy to provide persistent and reliable power generation for marine applications. Current solutions for applications that require persistent, long-term operation and/or require significant power, such as batteries, solar, micro-wind and diesel, are limited and costly. The PowerBuoy with its expandable, onboard battery system (Energy Storage System) can act as an offshore Uninterruptible Power Supply (UPS).