Ocean Power Technologies Receives Patent to Optimize Energy Harvesting in Low to Moderate Sea States
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., June 25, 2018 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ:OPTT) announced today that the Company has received a new U.S. patent for a method of controlling wave power generation equipment to optimize energy harvesting in low to moderate sea states. Real time sensor data and proprietary, predictive algorithms are used by the PowerBuoy’s™ control system to maximize the net power generated in low to moderate sea states. The control technique is fast enough to be applied to the timescale of a single passing wave. The newly issued patent involves techniques for allowing the PowerBuoy™ to remain in a sleep mode, then activate very quickly to harvest wave energy, and then return to a sleep mode if wave conditions are not optimal for continued power generation. This patent represents an upgrade over earlier control system designs and a significant improvement in power management. George H. Kirby, President and Chief Executive Officer of OPT, stated, “
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- 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