Ocean Power Technologies Announces Renewable Energy Production Milestone
13 Maio 2024 - 9:15AM
Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT”
or the “Company”), a leader in innovative and
cost-effective low-carbon marine power, data, and service
solutions, today announced it is approaching 15MWh of renewable
energy production from its family of PowerBuoys ® (“PB”). The
recent launch of its Next Generation PB off the coast of New Jersey
has materially accelerated average energy production by combining
solar, wind, and wave energy production capabilities.
The energy generation numbers are based on deployments in the
Atlantic, Pacific, Mediterranean, and North Sea. These deployments
came from a mix of renewable energy investments from government
backed development programs and commercial leases and sales, for
customers including ENI, EGP, Office of Naval Research and the
DeepStar consortium inclusive of Chevron, CNOOC, Equinor,
ExxonMobil, JX Nippon, Occidental, PetroBras, Shell, and Woodside.
OPT has demonstrated and delivered use cases as a proven solution
for Anti-Submarine Warfare, Intelligence, Surveillance, and
Reconnaissance, Unmanned Surface Vehicle Charging (“USV”), and
Environmental Sensing.
Philipp Stratmann, CEO and President of OPT, expressed his
enthusiasm about this milestone, stating, "These numbers show that
non-grid connected marine energy production is not just for the
R&D community, but is a commercially available solution.
Charging USVs, monitoring the marine environment, including during
whale migration season, and supporting the defense and security
industry is all possible. We have worked with customers in defense,
offshore wind, oil and gas, and general ocean sciences and look
forward to announcing more deployments.”
For additional information about OPT and its services, please
visit our website Ocean Power Technologies.
ABOUT OCEAN POWER TECHNOLOGIES
OPT provides intelligent maritime solutions and services that
enable safer, cleaner, and more productive ocean operations for the
defense and security, oil and gas, science and research, and
offshore wind markets. Our PowerBuoy® platforms provide clean and
reliable electric power and real-time data communications for
remote maritime and subsea applications. We also provide WAM-V®
autonomous surface vessels (ASVs) and marine robotics services. The
Company’s headquarters is in Monroe Township, New
Jersey and has an additional office in Richmond,
California. To learn more,
visit www.OceanPowerTechnologies.com.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements that are
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
identified by certain words or phrases such as "may", "will",
"aim", "will likely result", "believe", "expect", "will continue",
"anticipate", "estimate", "intend", "plan", "contemplate", "seek
to", "future", "objective", "goal", "project", "should", "will
pursue" and similar expressions or variations of such expressions.
These forward-looking statements reflect the Company's current
expectations about its future plans and performance. These
forward-looking statements rely on a number of assumptions and
estimates that could be inaccurate and subject to risks and
uncertainties, including the continued success of its PBs and the
conversion of potential customers to contracts and the realization
of the potential revenue thereunder. Actual results could vary
materially from those anticipated or expressed in any
forward-looking statement made by the Company. Please refer to the
Company's most recent Forms 10-Q and 10-K and subsequent filings
with the U.S. Securities and Exchange Commission for further
discussion of these risks and uncertainties. The Company disclaims
any obligation or intent to update the forward-looking statements
in order to reflect events or circumstances after the date of this
release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/45232010-8c7f-4c24-b884-8ae20cf8efcc
Contact Information
Investors: 203-561-6945 or investorrelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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