Ocean Power Technologies Awarded $1.0 Million by U.S. Department of Energy

PENNINGTON, N.J., Sept. 9, 2013 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”) today announced that it has won a $1.0 million funding award from the U.S. Department of Energy (“DOE”) to enhance the commercial viability of its PowerBuoy® wave-energy systems through mechanical component design changes to maximize power-to-weight output ratios and reduce overall installed capital costs.

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Categories: Enviro/Energy/Engineering Industry Network

Author:NJ Tech Council

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