Ocean Power Technologies News

Image: Ocean Power Technologies

Ocean Power Technologies Pact with NEC Energy Solutions

The provider of ocean energy solutions Ocean Power Technologies (OPT) signed a letter of intent to enter into a long-term supply agreement with NEC Energy Solutions, global leader in utility scale energy storage.Under the terms of the supply agreement, NEC ES will supply lithium ion batteries for OPT's subsea battery solutions.George H. Kirby, President and Chief Executive Officer of OPT, said: "NEC is a supplier of lithium ion batteries for our subsea battery solutions. Their long-standing leadership in the industry, as well as their dedication towards providing versatile, high-quality

OPT's hybrid PowerBuoy with seafloor battery (Image: OPT)

OPT Rolls Out New Products

Ocean energy solutions developer Ocean Power Technologies, Inc. has expanded its suite of complimentary products that leverage the core technology of the PowerBuoy, which include subsea batteries and a hybrid (liquid-fueled) PowerBuoy.George H. Kirby, President and Chief Executive Officer of OPT, said, “Our team has been working diligently to identify opportunities to leverage our technologies to address the needs of current and potential customers in subsea environments. These new product offerings provide OPT with the means to better serve customers by expanding its product and service offerings

PB3 PowerBuoy (Photo: OPT)

Premier Oil Looking into PB3 PowerBuoy

Premier Oil inks contract to study the use of the PB3 PowerBuoy for offshore decommissioning operations   Ocean Power Technologies, Inc. (OPT) said it has signed an agreement with an international oil and gas company Premier Oil to conduct a three-month study into the feasibility of using OPT’s PB3 PowerBuoy for decommissioning operations in the North Sea.   The PB3 PowerBuoy uses ocean waves to provide clean, reliable and persistent electric power and real-time communications for remote offshore applications.   The contract outlines work that will determine the viability of

(Photo: Ocean Power Technologies)

Ocean Power Technologies Establishes Houston Presence

New Jersey based Ocean Power Technologies, Inc. (OPT) said it has established a presence in Houston to more effectively support the company’s oil and gas business development activities.   The company’s daily business development activities in Houston will be managed by OPT’s new Director of Global Applications, David Marchetti, who work with customers to understand their challenges and develop unique solutions which integrate the OPT PowerBuoy to support customer subsea remote offshore operations from concept through deployment and beyond.   OPT’s PB3 PowerBuoy

Photo: OPT

Ocean Power Technologies Relocates HQ

Ocean Power Technologies, Inc. (OPT) has announced plans to relocate its corporate headquarters and manufacturing center to support increased operational needs and allow for projected growth over the next several years.   OPT’s new, larger facility in Monroe, N.J. will offer approximately 56,000 square feet of manufacturing and office space, nearly doubling the size of its current facility in Pennington, N.J.    OPT manufactures the PowerBuoy, which uses ocean waves to provide electric power and communications for offshore applications.   “Our ability to deliver

APB350 A1 deployed off of New Jersey (Photo: OPT)

Wave Energy's Power Play

Power in the waves for multiple offshore and subsea applications   Wave power is progressing as a viable source of renewable energy, and recently that progress has accelerated. One of the companies leading wave power’s advancement is New Jersey based Ocean Power Technologies (OPT), considered a pioneer in the arena with more than 20 years’ experience in generating electrical energy from waves. With its PowerBuoy system, the company has shifted its focus from larger scale power generation to a more targeted, and importantly, survivable and reliable product.   The wave power

Photo courtesy of OPT

'PowerBuoy' Deployed off New Jersey Coast

Press Release - Ocean Power Technologies, Inc. (OPT) has deployed its APB350 A1 PowerBuoy approximately 14 miles northeast of Atlantic City, N.J. Real-time performance and weather data will be collected and transmitted to OPT's monitoring and analysis center at its corporate headquarters in Pennington, N.J. According to OPT, the APB350 A1 contains an improved Power Takeoff (PTO) system compared to the APB350 that was deployed in 2011 in connection with the U.S. Navy's Littoral Expeditionary Autonomous PowerBuoy (LEAP) Program and then redeployed in 2013 in conjunction with the U.S. Department of

Dr. Gordon Drummond

Spotlight to Shine on Technology at Subsea Expo

ten minutes in the spotlight to outline their innovation and potential applications.   Selected by a panel of subsea experts, the companies being invited to present are: WITTENSTEIN, C-Kore Systems, Nautronix, PhotoSynergy, Tritech International, OneSubsea, Airborne Oil & Gas, Ocean Power Technologies, MMT UK, Aker Solutions and Matrix.   The presentations will cover subjects such as increasing shareholder value with subsea electric actuation systems; technical and safety advances in communications for saturation diving; and  field-proven techniques in target identification

Image courtesy of Lockheed Martin

Lockheed Martin in Australian Wave Energy Project

Lockheed Martin says it has signed a contract with Victorian Wave Partners Ltd. to begin developing the world’s largest wave energy project yet. The 62.5-megawatt peak power wave energy generation project will be built off the coast of Victoria, Australia, using Ocean Power Technologies' (OPT) PowerBuoy® wave energy converter technology. The company’s PowerBuoy wave generation technology uses a "smart," ocean-going buoy to convert wave energy into low-cost, clean electricity. The buoy moves up and down with the rising and falling of waves. This mechanical energy drives an

Oceanology International 2014 Exhibitors

Norway AS NiGK corporation NKE No Limit Ships B.V. Norbit Subsea AS Norcom Technology Limited Nortek AS Northern Diver Novacavi NovAtel Inc. N-SEA SURVEY B.V. NYMPHEA ENVIRONNEMENT Observator Instruments b.v. Ocean Business 2015 Ocean Modules Sweden AB Ocean Networks Canada Ocean Power Technologies Ocean Tools Ltd Oceanpact Serviços Marítimos Oceanscan - Marine Systems & Technology LDA Oceanscience OceanServer Technology Inc. OceanWaveS GmbH Oceanweather Inc Oceomic, Marine Bio and Technology, S.L. OPTIMARE Systems GmbH Orcina Ltd Orolia SAS Osean Sas OSIL Os

Kayleigh Cummings with her winning trophy prototype

Finalists Announced for Offshore Achievement Awards

Achievement Awards are: Export Achievement (sponsored by Saltire Energy) EnerMech EV Tendeka   Safety Innovations (sponsored by Petrofac) AMEC Stork Technical Services - ERBAS Viper Subsea Emerging Technology (sponsored by Nexen) Aubin Group Guardian Global Technologies Ocean Power Technologies   The Innovator (sponsored by BG Group) Paradigm Flow Services Tendeka Viper Subsea Great Small Company (sponsored by Wood Group PSN) Accord Energy Solutions Coretrax Technology Viper Subsea   Great Large Company (sponsored by Offshore Europe Partnership) DOF

PowerBuoy (Photo: OPT)

Ocean Power and Mitsui to Commercialize PowerBuoy

Ocean Power Technologies, Inc. (OPT) and Mitsui Engineering & Shipbuilding Co., Ltd. (MES) announced that they have signed a new agreement to cooperate in the development and commercialization of OPT's PowerBuoy technology. Building on the successful work previously done together by the companies, this agreement sets forth the terms of technology licensing and other financial arrangements between MES and OPT regarding OPT's PowerBuoy systems. Under the terms of the agreement, MES has the licensed right to sell OPT's PowerBuoys for both grid-connected utility and autonomous applications in Japan

PowerBuoy

OPT PowerBuoy Now Available in the Oil and Gas Sector

Ocean Power Technologies Ltd. (OPT), a supplier of moored floating buoys that harvest energy from waves, announced that it has chosen Offshore Europe to launch its PowerBuoy technology into the global oil and gas sector. Already demonstrated in the defense, renewables and utilities sectors, the PowerBuoy is capable of delivering energy from a few kilowatts (kW)to several 100 kW, and has been successfully deployed in Hawaii, U.K. and New Jersey.  The PowerBuoy moves freely up and down with the rise and fall of waves. The resultant mechanical stroking is converted via a sophisticated power

Power Buoy: Photo courtesy of OPT

Autonomous Surveillance PowerBuoy Deployed Off NJ Coast

Ocean Power Technologies (OPT) have deployed the buoy 35 miles off the coast and in 43 meters of water depth, to perform in-ocean tests on its proprietary APB to further validate the technology's capacity for expanded ocean surveillance. This latest deployment is in connection with a previously-announced Cooperative Research and Development Agreement ("CRADA") with the U.S. Department of Homeland Security ("DHS") Science & Technology Directorate ("S&T"). The DHS S&T Borders and Maritime Security Division are collaborating with OPT to demonstrate the

Ocean Power Awards Australian Seabed Survey Contract

Ocean Power Technologies announce that Victorian Wave Partners has engaged Professional Diving Services (also of Victoria) to conduct a detailed seabed survey for the location of VWP's proposed 62.5MW peak rating wave power station. The wave power station is planned for installation off the coast of Portland, Victoria. The proposed Portland wave power station is the largest of its kind in the world. The project is being developed by VWP, a wholly owned subsidiary of Ocean Power Technologies Australasia Pty Ltd.  an Australian company owned by OPT (88%) and energy company Woodside Petroleum Ltd

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