Summary
Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software, controls, sensors, integration services, and marine installation services. In addition, it offers distributed offshore power and communications for remote surface and subsea applications in markets, such as defense and security, offshore oil and gas, science and research, and offshore wind. Further, the company provides Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Additionally, it offers offshore data collection, integration, analytics, and real time communication for various applications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Monroe Township, New Jersey.
History
Founded in 1984, Ocean Power Technologies is a leader in ocean wave energy conversion. The company developed and has exclusive rights to over 30 patents and advanced technologies which have been used to develop PowerBuoy wave energy converters. OPT's PowerBuoys have been deployed off the coasts of Scotland, Japan and Oregon, generating sustainable electricity and providing localized applications while eliminating dependence on traditional fuel sources. OPT has continually improved their wave energy converters and advanced the technology in ways that maintain performance, improve efficiency, and reduce costs.
Mission
Our mission is simple: to become the world's leading supplier of cost-effective, clean, renewable ocean wave energy solutions.
Vision
At Ocean Power Technologies, we are passionate about finding new and innovative ways to responsibly use natural resources, while helping advance the development of a sustainable green economy. We strive to make renewable wave energy a mainstream power source and to make our products available to communities around the world.
Key Team
Nicholas Day (Gen. Counsel & Sec.)
Mr. Jeff Wiener (VP of Global Sales)
Recognition and Awards
Ocean Power Technologies has been recognized for their technological accomplishments and sustainable achievements. The Company has won numerous awards, including the Wave Energy Prize, the Innovation Prize for Ocean Technology, and the Regatta for Renewable Energy. OPT has also been the recipient of the Clean Funding Award from the Clean Energy Trust and has achieved recognition from the World Economic Forum. In addition, OPT's PowerBuoy wave energy converter has been recognized with the Technology Pioneer Award from the World Economic Forum.
References
United States 