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Ocean Power Technologies Announces the Deployment of its PB3 PowerBuoy in Japan

OCEAN POWER (OPTT)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: oceanpowertechnologies.gcs-web.com/node/5806
PDF PENNINGTON, N.J., April 21, 2017 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq:OPTT) announced today that a PB3 PowerBuoy was deployed off the coast of Kozu-shima Island in Japan as part of its first lease agreement with Mitsui Engineering and Shipbuilding (“MES”). The PB3 was shipped to Japan in February and arrived in Tokyo on March, 18th, 2017. Upon standard customs processing, the PB3 was transported to Kozu-shima Island where it was staged dockside, and where standard pre-deployment functional checks and preparations were carried out. The deployment of the PB3 and its moorings was completed by a joint team of Penta-Ocean Construction and MES. OPT supported MES with the mooring system specifically for the harsh ocean conditions of Kozu-shima Island. George H. Kirby, President and Chief Executive Officer at OPT, stated: “This is an exciting time for OPT as we initiate this lease and deploy the PB3 in Japanese waters for the first time. The deployment went well and t [Read more]

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