Ocean Power Technologies Inc   (OPTT)
Other Ticker:  
    Sector  Utilities    Industry Electric Utilities
   Industry Electric Utilities
   Sector  Utilities


What are Ocean Power Technologies Inc's Business Segments?

Ocean Power Technologies Inc. (OPT) is a leading renewable energy company that specializes in harnessing the power of ocean waves to generate electricity. OPT offers a wide range of segments, products, and services geared towards clean energy generation and sustainable power solutions. Let's explore these offerings extensively:

1. Segments:
a. Renewable Energy: OPT focuses on developing and commercializing innovative wave energy conversion systems, allowing the ocean's vast energy potential to be transformed into reliable power sources.

2. Products:
a. PowerBuoy' Systems: OPT's flagship product is the PowerBuoy', which utilizes wave motion to generate electricity. These self-contained floating devices consist of a buoyant hull, energy conversion technologies, and an onboard power management system.
b. Subsea Batteries: OPT has developed novel underwater energy storage solutions that can be integrated with PowerBuoy' systems or deployed separately. These subsea batteries store excess energy generated and provide a reliable power supply during periods of low wave activity.
c. Autonomous Power Systems: OPT offers autonomous, off-grid power solutions to various offshore applications. These self-sustaining systems are designed for remote monitoring, maritime surveillance, aquaculture, and communication purposes, reducing the need for costly and environmentally harmful fossil fuel generators.

3. Services:
a. Power Purchase Agreements (PPAs): OPT partners with utility companies, governments, and commercial entities to provide long-term power purchase agreements. These agreements ensure a stable revenue stream for OPT while offering customers a clean, renewable energy source.
b. Design and Engineering: OPT provides comprehensive design and engineering services, tailoring wave energy solutions to meet specific project requirements and site conditions. These services cover feasibility studies, system integration, resource assessment, and project development support.
c. Project Management and Installation: OPT's experienced teams manage and coordinate the installation of PowerBuoy' systems, ensuring seamless deployment and optimal performance. They also provide ongoing support, maintenance, and monitoring of installed systems.
d. Research and Development: OPT invests in ongoing research and development efforts to enhance the performance, efficiency, and affordability of its wave energy technologies. Collaborating with academia, government bodies, and industry partners, OPT aims to continually push the boundaries of wave energy conversion.

In summary, Ocean Power Technologies Inc. offers segments encompassing renewable energy, a range of products, including PowerBuoy' systems and subsea batteries, and various services, such as power purchase agreements, design and engineering, project management, and ongoing support. With a strong focus on innovation and sustainability, OPT is at the forefront of harnessing the immense power of the oceans for clean and reliable energy generation.

Ocean Power Technologies Inc Tax Rate Companies within the Electric Utilities Industry

Business Segments Q3
(in millions $)
(in millions $)
(Jan 31 2024)
(Profit Margin)
Total 1.79 -6.51 -

Growth rates by Segment Q3
Y/Y Revenue
(Jan 31 2024)
Q/Q Revenue
Y/Y Income
(Jan 31 2024)
Q/Q Income
Total 150.98 % 82.67 % - -

To get more information on Ocean Power Technologies Inc's Total segment. Select each division with the arrow.


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