4 August '10
2:50 PM UTC
1 Comment
  Tidal & Wave

Ocean Power Technologies Gets Closer to Utility-Scale Wave Power in America

Ocean Power Technologies PowerBuoy: Coming soon to Oregon

Ocean Power Technologies is a step closer today to building the country’s first utility-scale wave power project in Oregon.

The Pennington, N.J.,-based company announced that it had signed a settlement agreement with 11 federal and state agencies and three non-governmental stakeholders regarding the development of a 1.5-megawatt wave energy station at Reedsport, Oregon. The station will use ten Ocean Power Technologies’ PB150 PowerBuoys, which are currently under construction at Oregon Iron Works. The company’s stock (NASDAQ:OPTT) was up 3.2 percent to $5.48 at 3 p.m. EST. Read More »

3 February '09
7:13 AM UTC
No Comments
  Tidal & Wave

Ocean Power names new chief technology officer

Ocean Power Technologies has named Phil Hart as chief technology officer.

In the new role, Hart will be responsible for the company’s advanced technology development including the development of the next generation of PowerBuoy systems.

Hart reports to Mark Draper, OPT’s new CEO, who was appointed to the top position this week. Draper replaces company-founder, George Taylor, who stays on as executive chairman of the AIM-listed company.