Ocean Power Technologies Receives $1.75 Million Through New Jersey’s Technology Business Tax Certificate Transfer Program

PENNINGTON, N.J., Jan. 27, 2014 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), a leading wave energy technology company, today announced that it recently received approximately $1.75 million through the State of New Jersey’s Business Tax Certificate Transfer Program (the Program). Continue Reading

Ocean Power Technologies Announces New Head of Autonomous Power Business Unit

PENNINGTON, N.J., Jan. 21, 2014 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), today announced that David R. Heinz has been appointed to the position of Vice President, Autonomous Power. Mr. Heinz previously held the position of Vice President and General Manager of the Maritime Systems division of iRobot Corp., a […]

Ocean Power Technologies Announces Funding Agreement With Australian Government for A$66.5 Million Grant

PENNINGTON, N.J., Jan. 14, 2014 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), today announced that Victorian Wave Partners Pty Ltd (“VWP”), its project-specific operating entity wholly-owned by Ocean Power Technologies, Australasia (OPTA), has signed an agreement with the Australian Renewable Energy Agency (“ARENA”). This agreement is a Deed of Variation […]

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 […]

Ocean Power Technologies and Mitsui Engineering & Shipbuilding Announce Agreement to Commercialize PowerBuoys(R)

PENNINGTON, N.J., Oct. 24, 2013 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or the “Company”) and Mitsui Engineering & Shipbuilding Co., Ltd. (“MES”) today announced that they have signed a new agreement to cooperate in the development and commercialization of OPT’s PowerBuoy® technology. Continue Reading

Ocean Power Technologies Announces Election of New Director

PENNINGTON, N.J., Oct. 23, 2013 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), a leading wave energy technology company, today announced that David L. Keller was duly elected to the Company’s Board of Directors at the Company’s Annual Meeting of Stockholders held on October 3, 2013. In addition, David L. Davis […]

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 […]

Important milestone for autonomous PowerBuoy

Ocean Power Technologies, Inc. has 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® product line. Continue Reading

Ocean Power Technologies Announces Award of Seabed Survey Contract in Australia

PENNINGTON, N.J., June 24, 2013 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), a leading wave energy technology company, today announced that Victorian Wave Partners Pty Ltd. (“VWP”) has engaged Victorian company Professional Diving Services (“PDS”) to conduct a detailed seabed survey for the location of VWP’s proposed 62.5MW peak rating […]

Ocean Power Technologies Establishes New Business Unit to Drive Growth

New Unit Will Focus on Addressing Global Market Potential for Autonomous PowerBuoys PENNINGTON, N.J., Nov. 6, 2012 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (Nasdaq:OPTT) (“OPT” or “the Company”), a leading wave energy technology company, today announced the formation of an Autonomous PowerBuoy Business Unit within the Company. This new group will target and develop […]