In The News

ENIOcean Power Technologies Signs Agreement With Eni S.P.A. To Provide PB3 PowerBuoy™ For Subsea Oil And Gas Operations

Ocean Power Technologies, Inc.(NASDAQ:OPTT) announced today that the Company has signed an agreement with Eni S.p.A. (“Eni”), one of the world’s largest multinational oil and gas companies, to supply a PB3 PowerBuoy™ for a demonstration of one of Eni’s subsea oil and gas operations. The agreement provides for a minimum 24-month contract that includes an 18-month PB3 PowerBuoy™ lease and associated project management. OPT will also provide deployment support, remote data collection and monitoring. The project is expected to commence in March 2018.

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Premier OilOcean Power Technologies Signs Agreement With Premier Oil

MONROE TOWNSHIP, N.J., Jan. 22, 2018 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ:OPTT) announced today that the Company has signed an agreement with Premier Oil (LSE:PMO), an international oil and gas company, to study the feasibility of using the PB3 PowerBuoyTM for decommissioning operations in the North Sea.  The contract outlines work that will determine the viability of using the PB3 for monitoring and guarding remaining wells and subsea equipment after removal of a floating production, storage and offloading vessel and prior to subsea decommissioning and/or well plugging & abandonment operations.

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Christopher PhebusChristopher Phebus Joins Ocean Power Technologies As Vice President Of Engineering

MONROE TOWNSHIP, N.J., Jan. 16, 2018 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc.(Nasdaq:OPTT) today announced that Christopher Phebus, a highly regarded technology executive with extensive experience in subsea systems and engineering, has joined the company as Vice President of Engineering.  In his new role, Phebus will assume responsibility for the continued enhancement of the company’s PowerBuoy wave-energy technology and will also lead the company’s multi-disciplinary engineering team.

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PowerBuoyOcean Power Technologies Announces Pb3 Commercial Powerbuoy Performance Off Kozu-Island, Japan After Eight Weeks Of Deployment

PENNINGTON, N.J., June 12, 2017 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ:OPTT) (“OPT” or the “Company”) announced today that its PB3 commercial PowerBuoyTM, which is  deployed off Kozu-Island, Japan as part of a previously announced lease, is meeting all of its performance requirements. Closer to home, the commercial PB3 Power Take-Off (“PTO”) accelerated life testing, which is conducted at the Company’s headquarters in New Jersey, reached over 67 million strokes that simulates over 4 years of ocean operation.

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OPT And Its Innovative Power Play
Marine Technology Reporter
November/December, 2015

 

 

 

Is Wave Power Following the the Footsteps of Wind?‚Äč
By George H. Kirby
President and Chief Executive Officer
Ocean Power Technologies, Inc.

 

Webinar

Gulf of Mexico Demonstration of Power and Communications Solution for the Offshore Oil & Gas Industry‚Äč
April, 2016

 

 

Capabilities Video

 

PB3 Deployment Video

 

PB3 Photos

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PB3 being transported by truck to launch site

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PB3 being towed to deployment site

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PB3 during ballasting process for vertical positioning, which occurs at the deployment site

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PB3 deployed off the coast of New Jersey