Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Other EventsItem 8.01 Other Events
On January 22, 2018, Ocean Power Technologies, Inc. issued a press release announcing a three- month contract with Premier Oil to study the feasibility of using the PB3 PowerBuoy for decommissioning operations in the North Sea. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
*Furnished herewith.
Ocean Power Technologies, Inc. ExhibitEX-99.1 2 ex99-1.htm Exhibit 99.1 NEWS RELEASE Ocean Power Technologies Signs Agreement with Premier Oil 3-month contract to conduct a study into the use of the PB3 PowerBuoy for decommissioning operations is a significant step in OPT’s commercialization strategy MONROE TOWNSHIP,…To view the full exhibit click here
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.
