Making Waves in Power

Clear Vision

OPT was formed by Dr. George W. Taylor and the late Dr. Joseph R. Burns in pursuit of their vision of harnessing the boundless energy of the world’s oceans. Starting in 1994 OPT has focused on its proprietary PowerBuoy™ technology, capturing wave energy using large floating buoys anchored to the sea bed and converting the energy into electricity using innovative power take-off systems.

Tested at Sea

Commencing in 1997, ocean trials have been conducted off the coast of New Jersey to demonstrate the concept of using a floating buoy to capture wave energy and convert it into electricity. The technology is on a growth curve towards full-scale commercial application, recent examples of which are the 40 kW-rated PowerBuoys installed in Hawaii and New Jersey.

Funded for Success

Ocean Power Technologies Inc. was floated on the London Stock Exchange’s AIM market in October 2003 following a successful IPO, and is traded on the AIM market under the symbol “OPT”.

The Company completed its US IPO and listing on Nasdaq in April 2007, and is traded on Nasdaq under the symbol “OPTT”.

Ready for Market

OPT has begun the initial phase of installation of a 1.39 MW wave farm off the northern coast of Spain. The project is a joint venture with the Spanish utility Iberdrola SA. A full size demonstration plant of up to 5MW capacity is planned for installation in UK waters.