Ocean Power Technologies Inc   (OPTT)
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    Sector  Utilities    Industry Electric Utilities
   Industry Electric Utilities
   Sector  Utilities

Ocean Power Technologies Inc

Business Description

Ocean Power Technologies Inc. (OPT) is a leading renewable energy company that specializes in the development, manufacture, and commercialization of innovative ocean energy solutions. The company is based in Monroe Township, New Jersey, and was founded in 1984.

OPT*s primary focus is on harnessing the power of ocean waves to generate electricity. They are known for their patented PowerBuoy technology, which is a buoy-like device that converts the kinetic energy of waves into clean, renewable electricity. The PowerBuoy consists of a float that rises and falls with the movement of the waves, which in turn drives a generator to produce electricity.

The company*s PowerBuoy technology has numerous advantages, such as being environmentally friendly, with no emissions or waste products. It also has a minimal visual impact and can be deployed in various geographic locations. Additionally, the PowerBuoy can withstand harsh ocean conditions, making it a reliable and durable energy solution.

OPT offers a wide range of products and services to help meet the global demand for clean and sustainable energy. These include the PB3 PowerBuoy, which is their flagship product and is designed for utility-scale power generation. They also offer the APB350 Autonomous PowerBuoy, a smaller version used for offshore applications like surveillance and communications. In addition to these offerings, OPT provides engineering, project management, and support services for the installation and maintenance of their solutions.

The company has successfully demonstrated the effectiveness of their technology through projects and partnerships around the world. They have deployed PowerBuoys in different locations, including the United States, Europe, and Australia. These deployments have provided valuable data and insights, informing the ongoing refinement and improvement of their technology.

OPT is actively involved in research and development efforts to advance their products and expand their market reach. They collaborate with government agencies, academic institutions, and other industry leaders to drive innovation and overcome technical challenges. This dedication to R&D has positioned OPT as a pioneer in the field of ocean energy.

In conclusion, Ocean Power Technologies Inc. is a leading renewable energy company that specializes in wave energy solutions. Their patented PowerBuoy technology harnesses the power of ocean waves to generate clean and sustainable electricity. With a strong focus on research and development, OPT has become a respected name in the industry and continues to drive innovation in the renewable energy sector.

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