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Ocean Power Technologies
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Short description

Developer of methods for extracting energy from offshore waves

Founded in 1984
Founded in

Company type Public Public (OPTT)
Company type

Industry Group energy & power

Sector hydro & marine

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters Pennington, NJ Pennington, United States
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Date Company
10/22/2012

Mitsui Engineering & Shipbuilding Mitsui Engineering & Shipbuilding

OPT has received a contract from Mitsui Engineering & Shipbuilding worth approximately $900,000 to further work on the development of its PowerBuoy technology for specific application in Japanese sea conditions.

Confirmed by Mitsui Engineering & Shipbuilding

Partnerships
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Date Partner Type
10/26/2015
Gardline Group Gardline Group
OPT and Gardline's Environmental unit announced an MOU to jointly develop innovative metocean monitoring and maritime security systems for prospective customers in the ocean observing and defense and security markets.
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Confirmed by Gardline Group
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IPO INFORMATION

Date

04/24/2007

IPO status

Listed

IPO Type

IPO

Amount

$90.1M

Initial shares

5000000

Ticker symbol

OPTT

Exchange listed

NASDAQ

Prospectus URL

Prospectus

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Description

Date Investors Type Amount
01/29/2024 New Jersey Economic Development Authority New Jersey Economic Development Authority (1)
Post-money valuation of
OPT can sell portion of net operating losses and tax credits to profitable corporations for cash.
Grant $1,200,000
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