Ocean Power Technologies News

OPT, Acteon Exploring Joint Opportunites

US based ocean energy solutions company Ocean Power Technologies (OPT) and UK based subsea services and solutions company Acteon Field Life Service, an Acteon Group subsidiary, have entered into a nonexclusive memorandum of understanding (MOU) to develop, explore and exploit mutual opportunities in the global oil and gas and renewables markets, the companies announced on Thursday.“We see a strong potential in this collaboration, where OPT’s PowerBuoy products and services and Acteon’s integrated subsea services and solutions, coupled with its global network of facilities, personnel

(File photo: OPT)

OPT Scores Oil and Gas Study Contract

US based ocean energy solutions company Ocean Power Technologies (OPT) said it has signed a contract with an unnamed oil and gas exploration and production company to complete a 12-week paid feasibility study that will examine the use of OPT’s products and services in monitoring subsea wells during decommissioning activities.“This study will evaluate the use of our PowerBuoys in monitoring multiple customer wells during oil field decommissioning activities in the very deep and challenging waters of the Gulf of Mexico,” said George H. Kirby, President and Chief Executive Officer of

(Photo: OPT)

OPT Inks Deal with US Operator

Ocean energy solutions developer Ocean Power Technologies (OPT) said it has signed a master service contract governing work with an unnamed offshore oil and gas operator within the U.S. and the U.S. outer continental shelf, including the provision of goods and services.OPT president and CEO George H. Kirby said, “This contract is the first with a U.S. oil and gas operator, opening the door for OPT to provide solutions into the Gulf of Mexico where we believe there exists significant need for cost-effective remote offshore power and communications.”OPT's PowerBuoy and subsea battery

(Image: Saab Seaeye)

OPT and Saab Seaeye Partner

Ocean energy solutions provider Ocean Power Technologies, Inc. electric underwater robotic systems manufacturer Saab Seaeye Ltd, have entered a nonexclusive agreement to jointly develop and market solutions for autonomous underwater vehicle (AUV) and remotely operated underwater vehicle (ROV) charging and communications systems.“We see a strong potential in this cooperation, where Saab Seaeye’s market-leading underwater solutions become even more capable by the addition of OPT charging solutions for resident vehicle systems,” said Matt Bates, Head of Marketing & Sales at Saab

Photo: Ocean Power Technologies

Eni Deploys OPT's PowerBuoy

Ocean Power Technologies' PowerBuoy has been deployed in the Adriatic Sea to advance Eni’s R&D MaREnergy project that aims to develop, deploy and demonstrate wave energy renewable technologies in oil and gas operations, the U.S.-based ocean energy solutions provider announced Wednesday.The OPT PowerBuoy will be used in the Adriatic Sea to advance Eni’s research and development of proprietary integrated subsea technology systems to allow future applications for remotely controlled field developments powered by wave energy, environmental monitoring and offshore asset inspection using

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

Marine Technology Magazine Cover May 2019 - Underwater Defense Technology

Marine Technology Reporter is the world's largest audited subsea industry publication serving the offshore energy, subsea defense and scientific communities.

Subscribe
Marine Technology ENews subscription

Marine Technology ENews is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for MTR E-news