Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Other Events
Item 8.01.
On May 12th, 2021, Ocean Power Technologies, Inc. issued a press release that announced the receipt of $1.0 million in non-dilutive funding through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer Program. 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 May 12th, 2021 that announced the receipt of $1.0 million in non-dilutive funding through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer Program. |
*Furnished herewith.
Ocean Power Technologies, Inc. Exhibit
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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.
