DeepResource

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US Navy Funds Ocean Power Project

Ocean Power Technologies, Inc… today announced the successful completion of extensive factory acceptance testing of the first of its next generation power take-off (“PTO”) units for the Company’s utility-scale PowerBuoy®, the PB150. The PTO has now been shipped from OPT’s facility in Pennington, New Jersey to Oregon Iron Works, where it is in the process of being integrated into the spar of the buoy in preparation for deployment off the coast of Reedsport, Oregon. The new direct drive system is a much larger version of that which was recently utilized in the Company’s PowerBuoy deployed off Oahu, Hawaii, for two years in a project with the US Navy.

[businesswire.com]
[oceanpowertechnologies.com]


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