Ocean Power Technologies (Nasdaq: OPTT), headquartered in Pennington, NJ, is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. We are developing and seeking to commercialize PowerBuoy product lines for large-scale and autonomous applications.

Our large-scale PowerBuoy systems are designed to supply electricity to a local or regional electric power grid and/or stand-alone power user. Our autonomous systems are designed to generate power for use independent of an existing power grid in remote locations for applications such as ocean observing and maritime surveillance.

OPT’s proprietary PowerBuoy® technology is based on a scalable, modular design and has undergone periodic ocean testing since 1997. The 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 system that turns wave power into reliable, clean, and environmentally beneficial electricity.