Company Profile - Ocean Power Technologies Inc

Introduction

Ocean Power Technologies Inc (OPT) is a provider of ocean energy solutions. The company develops, manufactures, and sells ocean wave power conversion technology products. Its PB3 PowerBuoy product integrates technologies in hydrodynamics, energy conversion, electronics, and computer control systems to extract energy from ocean waves. OPT serves offshore power and real-time data communications applications in defense, security, ocean observing, oil and gas, and communications offshore wind sectors in Asia, North America, and Europe. Through a direct sales force including employees and industry expert consultants, the company markets PowerBuoys systems. It has in-house manufacturing, assembly, final systems integration, and testing of the PTO and its components facility in the US. OPT is headquartered in Monroe, New Jersey, the US.