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Stock impact report

Ocean Power Technologies Ships PB3 PowerBuoy™ to Eni S.p.A for Deployment in Adriatic Sea

Ocean Power Technologies, Inc. (OPTT) 
Company Research Source: GlobeNewswire
MONROE TOWNSHIP, N.J., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that the Company has successfully shipped its PB3 PowerBuoy™ to Ravenna, Italy for Eni S.p.A.’s (“Eni”) deployment and use in its subsea operations. OPT will also provide to Eni deployment support, remote data collection and monitoring. Since signing in March 2018, OPT and Eni have attained several key milestones such as payload integration and testing of buoy systems. George H. Kirby, President and Chief Executive Officer of OPT, said, “This shipment marks an important milestone for our company and in our partnership with Eni. This partnership represents OPT’s first commercial agreement and deployment in the oil and gas market and in Italy and the Adriatic Sea, and we look forward to working with Eni to further develop this new application. We believe the shipment to Eni creates opportunities for a Show less Read more
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