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Ocean Power Technologies Inc

Profile last edited on: 11/15/18
1590 Reed Road
Pennington, NJ 08534
  (609) 730-0400
  N/A
  www.oceanpowertechnologies.com
Business Identifier: Capturing and converting wave energy into electricity using innovative power take-off systems
Public Profile:
Ocean Power Technologies Inc is developing and commercializing high volume production of reliable and efficient systems that are able to generate electricity by harnessing the renewable energy of ocean waves. The Company's PowerBuoy systems use large floating buoys that are anchored to the seabed in order to convert the mechanical energy that is created by the rising and falling of ocean waves into electricity. The Company offers two PowerBuoy products, which consist of the utility PowerBuoy system, which is designed to supply electricity to a local or regional electric power grid, and the autonomous PowerBuoy system, designed for power generation independent of the power grid in remote locations. Ocean installations of the PowerBuoy have been conducted off the coasts of three continents, and has demonstrated the ability to capture wave energy, convert it into electricity and survive a wide range of wave conditions including hurricanes and tsunamis. The technology is on a growth curve towards full-scale commercial application. Ocean Power is focused on marketing their PowerBuoy technology to the following segments: Grid-connected utility market; Autonomous market, who require lower levels of continuous power for deep-ocean applications such as maritime security and homeland defense, offshore oil and gas operations, aquaculture and oceanographic data sampling. The firm's technology is designed to serve the offshore power requirements of the following markets: Defense & Security, Oil & Gas, Offshore Wind, Ocean Observin

 Synopsis: Awardee Business Condition
Year Founded First SBIR Year Date of Last Award
Employee Range VC funded? IP Holdings
Revenue Range Private/Public Exchange/Symbol :

Contact information

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