Ocean Power Technologies

OPT

Ocean Power Technologies (Nasdaq:OPTT) is a leader in renewable wave-energy technology that converts ocean wave energy into electricity.

OPT's proprietary PowerBuoy® technology is based on a modular and scalable design and has undergone performance validation combining full scale ocean testing and Accelerated Life Testing (ALT) leading the PB3 product to reach a TRL of 6 on the API 17N scale.  

OPT specializes in advanced autonomous (not grid connected), cost-effective, and environmentally sound ocean wave based power generation and management technology for remote, offshore applications.

The PowerBuoy® will deliver:

Reduced operational costs (OPEX) by eliminating frequent maintenance visits to service traditional energy sources.

Real time data with enhanced density enabled by the availability of increased electrical power: Allows more effective operational decisions for improved assets utilization.

Persistence and greater availability of reliable power: Enables the introduction of new technical solutions and enhanced capability while increasing mission endurance.

Proactive control and fault analysis of equipment through real time remote desktop user control and monitoring (Prognostic and health monitoring).

Markets

OPT’s PowerBuoy technology is designed to serve the offshore power requirements of the following markets:

Defense & Security

Oil & Gas

Ocean Observing

Communications.

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