Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Other Events
On June 26, 2020, Ocean Power Technologies, Inc. (the “Company”) issued a press release announcing the launch its newest product, the hybrid PowerBuoy®. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
|*99.1||Press release dated June 26, 2020 regarding the announcement of the Company’s new product, the hybrid PowerBuoy®.|
Ocean Power Technologies, Inc. Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 Ocean Power Technologies Launches hybrid PowerBuoy® Easily Deployable Offshore Power & Communications Platform Completes Successful Sea Trial MONROE TOWNSHIP,…
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About Ocean Power Technologies, Inc. (NASDAQ:OPTT)
Ocean Power Technologies, Inc. is developing and seeking to commercialize its systems that generate electricity by connecting the renewable energy of ocean waves. The Company’s PowerBuoy systems use technologies that convert the mechanical energy created by the rising and falling of ocean waves into electricity. The Company focuses on developing its PowerBuoy product line, which is based on modular, ocean-going buoys. Its autonomous PowerBuoy generates power for use in remote locations, independent of an existing power grid. The Company focuses on developing and commercializing its PowerBuoy products and services for use in autonomous power applications. The Company markets its PowerBuoys in the United States and internationally. The autonomous PowerBuoy integrates a power take-off (PTO) and onboard system for energy storage and management. Its PowerBuoy product is the PB3. PB3 can act as an uninterruptable power supply (UPS), which recharges itself by harvesting energy from the waves.