Ocean Power Technologies Receives U.S. Patent for its Power Take-Off System for use with Wave Energy Conversion Buoys
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., June 20, 2019 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ: OPTT) (“OPT”, or “the Company”), a leader in innovative and cost-effective ocean energy solutions, announced today that the Company has received a new U.S. patent for its Power Take-Off (PTO) System which is the mechanical heart of the PB3 PowerBuoy®. Ocean waves that pass-by the PowerBuoy® create a relative linear motion between the float and the spar components of the PB3. The PTO system takes the linear motion of the float through the input shaft and converts it into rotary motion via a ball-screw. The ball-screw drives a generator that produces electrical power thus completing the wave energy to electrical energy conversion. George H. Kirby, President and Chief Executive Officer of OPT, stated, “This new patent provides significant additional protection for our proprietary technology that enables the PowerBuoy® to be deployed and to perform autonomously in the toughest waters in
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- Ocean Power Technologies Unveils Versatile New Generation of Buoy Systems [Yahoo! Finance]Yahoo! Finance
- Paragon Calls on Ocean Power to Cease Any and All Future Equity Raises That Dilute Existing Stockholders to Fund OPT's Losses and Executive Compensation [Yahoo! Finance]Yahoo! Finance
- Paragon Calls on Ocean Power to Cease Any and All Future Equity Raises That Dilute Existing Stockholders to Fund OPT's Losses and Executive CompensationAccesswire
- 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
- 4/26/24 - Form 8-K
- 4/22/24 - Form DFAN14A
- 4/17/24 - Form SC
- OPTT's page on the SEC website