Ocean Power Technologies
|Traded as||NASDAQ: OPTT|
|Industry||Renewable Energy, Wave Power, Sustainable Energy|
|Founded||Princeton, New Jersey, United States (1984)|
|Founder||Dr. George W. Taylor
Dr. Joseph R. Burns (late)
|Headquarters||Pennington, New Jersey, New Jersey, United States|
|Charles F. DunLeavy
(Chairman) & (CEO)
Dr. George Taylor
(Executive Vice Chairman))
|Website|| (1999 established)|
Ocean Power Technologies (O.P.T.) is a US owned renewable energy company, providing power generation devices, services and related equipment for the extraction of energy from ocean waves. The company's PowerBuoy technology is scalable to hundreds of megawatts and the generated energy from Wave Power is supplied to the grid via submarine cables. Projects are now underway around the world.
Ocean Power Technologies Limited is the UK-based wholly owned subsidiary.
Range of products
- Devices for the Grid-connected utility market, currently the Mark 3 PowerBuoy.
- Devices for the Autonomous market requiring lower levels of power for deep-ocean applications such as maritime security and homeland defense, offshore oil and gas operations, aquaculture and oceanographic data sampling. The Company’s PowerBuoy in ratings of 2 kilowatt to 40 kilowatt is ideal for these applications, including the LEAP autonomous PowerBuoy sold to the US Navy.
- Infrastructure products and services - cable installations, grid interconnection, permitting and site development, including the Company’s Undersea Substation Pod product, available to all companies in the marine energy sector.
- Undersea Substation Pod - Device for aggregating diverse power generation devices and supplying an interface with onshore power distribution.
- LEAP Autonomous PowerBuoy, New Jersey  - O.P.T. has successfully operated a system off New Jersey, designed and manufactured by O.P.T. under the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program for coastal security and maritime surveillance.
- Coos Bay, Oregon - O.P.T. has proposed a utility-scale, commercial wave park in North America at Coos Bay, Oregon. The planned size of this park is up to 100 megawatts, and it will be the largest wave energy project in the world when completed.
- Reedsport, Oregon - O.P.T. is developing a commercial wave park on the west coast of the United States located 2.5 miles offshore near Reedsport, Oregon. The first phase of this project is for ten PB150 PowerBuoys, or 1.5 megawatts. Due to legal and technical problems, this project has now ground to a halt, August 2013. 
- Santoña, Spain - In July 2006, O.P.T. formed a joint venture with Iberdrola S.A., global oil major TOTAL, the Spanish Government IDAE (Institute of Energy Savings and Efficiency), and the local regional development agency SODERCAN, for the turnkey construction of a wave farm off the North coast of Spain. OPT has been awarded funding by the European Union to deploy a PowerBuoy at the Santoña site developed by the joint venture.
- Cornwall, England - O.P.T. aims to develop its wave power generation technology at Wave Hub, a renewable energy project off Cornwall in the South West of England, which expects to create the UK's first offshore facility for the demonstration and proving of arrays of wave energy generation devices.
- Portland, Victoria, Australia - Ocean Power Technologies Australasia Pty Ltd, as part of Victorian Wave Partners is developing a 19 megawatts wave power station connected to the grid near Portland, Victoria. The project has received an AU $66.46 million grant from the Federal Government of Australia.
- Scotland  - An O.P.T. wave power generation buoy was successfully deployed at sea in 2011 by a team including Scotland-based Global Maritime Scotland Ltd, Port Services (Invergordon) Ltd and OPT, with the support of the Cromarty Firth Port Authority.
- Oahu, Hawaii  - From 2009 to 2011, O.P.T. ocean-tested its wave power generation system at the US Marine Corps Base Hawaii (MCBH) at Kaneohe Bay. The Oahu system was launched under the Company's program with the US Navy for ocean testing and demonstration of such systems, including connection to the Oahu grid.
- Atlantic City, New Jersey - The principles demonstrated with the earlier prototype power generation buoys, deployed and tested off the coast of Atlantic City, were integrated into the designs of the buoys for Hawaii and Spain.
Undersea Substation Pod (USP)
The USP is an electrical power aggregator from up to ten offshore power generation devices, be they wind, wave power or other, into one common interconnection point for transmission to the onshore power grid. The USP can likewise be configured to supply onshore power to offshore devices.
- Power From the Restless Sea Stirs the Imagination - September
- Forecasting the Future of Ocean Power - October
- Making waves: the company you've never heard of ... - October
- Oregon Wave Power Project Advances - December
- Ocean Power moves into early commercial phase - April
- Wave Hub successfully installed - September
- OPT Wave Park FERC Project No. 12713 Application for a Major License
- Agreement to Develop Wave Power Park in Oregon
- OPT Deploys Hawaii PowerBuoy - February
- OPT PB150 wave power device achieves Lloyd's certification
- First of New Generation Utility-Scale Wave Power Device - February
- PowerBuoy on cover of Sea Technology magazine - April
- Ocean Power Technologies Commences in-Ocean Trials of New Generation Utility-Scale Wave Power Device - May
- Lockheed Martin joins OPT for 1.5MW Oregon wave power array
- OPT's wave power device withstands Hurricane Irene - September
- OPT devices described by NNMREC, University of Oregon
- Wave Energy Company Finds Its Sea Legs
- Victoria project - January
- Victoria Australia project to add jobs - July
- Ocean Power Technologies and Lockheed Martin take wave power down under - July
- Ocean Power Technologies and Lockheed Martin to Develop Wave-Energy Project in Australia - July
- Innovations In Wave Power: An Interview With Dr. George Taylor - July
- Lockheed Martin, Woodside in wave power project - July
- Oregon wave power project gets green light to go forward - August
- Ocean Power Technologies Receives Federal Approval for the First Commercial Wave Farm in the US - August
- Federal approval for the first commercial wave farm
- Reedsport Development News - September
- OPT To Work With U.S. Department Of Homeland Security - September
- Reedsport Development Update - Deployment in spring 2013 - October
- Alliance with Mitsui Engineering & Shipbuilding-Japan - October
- Herald On-Line: Mitsui Alliance - October
- OPT Contract Awarded by Mitsui - October
- OPT and Mitsui to steer wave device to possible Japan launch - October
- OPT Establishes New Business Unit to Drive Growth - November
- (OPT) awarded contract by Mitsui Engineering & Shipbuilding in Japan (January)
- Ocean Energy Projects Developing On and Off America's Shores - OPT in Pacific Northwest (January)
- Ocean Power Technologies Receives Approximately $1.5 Million Under New Jersey's Technology Business Tax Certificate Transfer Program (January)
- US Marine Energy Projects Make Progress on Both Coasts - OPT in Pacific Northwest (February)
- LEAP system
- Images of LEAP installation
- Coos Bay system
- Reedsport system
- Ocean Wave Energy Technology and Oregon’s Process
- Santoña Spain system
- Images of Spain installation
- Cornwall, UK Wave Hub system
- Images of Wave Hub installation
- Portland Victoria, Australia system
- Cromarty Firth, Scotland system
- Images of Cromarty Firth Installation
- Oahu, Hawaii system
- Images of Oahu installation
- Atlantic City, NJ prototype system