Ocean Power Technologies Awarded $2.6 Million Contract by Mitsui Engineering & Shipbuilding for Development and Supply of Japan Utility PowerBuoy(R) System

PENNINGTON, N.J., Oct. 31, 2013 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”) 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.

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Categories: Enviro/Energy/Engineering Industry Network

Author:NJ Tech Council

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