Ocean Power Technologies Announces United States Navy Contract Award
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., Feb. 12, 2019 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced a contract award from the United States Navy valued at $125,000, and an additional three options totaling $100,000 for a total potential contract value of $225,000. Under this contract, OPT will immediately begin the development of a buoy mooring system which incorporates fiber optics for the transmission of subsea sensor data to airplanes, ships, and satellites. OPT will execute the work under its Innovation & Support Services line and will leverage its many years of experience with marine systems and U.S. Navy programs to address the Navy’s need for reliable and low-cost “optical-mechanical mooring cables”. Importantly, the fiber optic mooring concepts developed under this contract may be incorporated into OPT’s PowerBuoy® and Subsea Battery Module product lines. George Kir
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- Wave and Tidal Energy Market Size Projected to Surge $5.1 Billion Growth by 2033, Exhibit a CAGR of 12.5% [Yahoo! Finance]Yahoo! Finance
- Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium [Yahoo! Finance]Yahoo! Finance
OPTT
Sec Filings
- 4/22/24 - Form DFAN14A
- 4/17/24 - Form SC
- 4/17/24 - Form 8-K
- OPTT's page on the SEC website