Ocean Power Technologies, Inc. (NASDAQ:OPTT) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On January 31, 2019, Ocean Power Technologies, Inc. issued a press release announcing a Joint System Solution Development and Marketing Agreement with Saab Seaeye Ltd, the world’s largest manufacturer of electric underwater robotic systems. The agreement anticipates a preliminary focus on autonomous underwater vehicle (AUV) and remotely operated underwater vehicle (ROV) charging and communications systems. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
*Furnished herewith.
Ocean Power Technologies, Inc. Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 NEWS RELEASE Ocean Power Technologies and Saab Seaeye Announce a Joint Development and Marketing Agreement Ocean Power for Resident Robotics Creates Unique Business Development Platform for Customers Seeking AUV and ROV Charging and Communications Systems 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.
