Riding the Growth Wave Across Military and Commercial Markets
OPT is a renewable energy company that generates electricity using wave power buoys. OPT's wave power buoys are a unique and innovative technology that have the potential to make a significant contribution to the fight against climate change. OPT has also developed unmanned service vehicles (USVs) that can be used for a variety of applications, including maritime domain awareness, intelligence gathering, and environmental monitoring... This report contains a transcript of the fireside chat from April 18, 2023, which can be accessed on demand. Our prior content on OPT can be accessed here.Ocean Power Technologies is developing and commercializing its proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The company uses proprietary technologies that convert the mechanical energy created by the heaving motion of ocean waves into electricity. The company's principal product is its PB3 PowerBuoy?, which is designed to generate power for use independent of the power grid in remote offshore locations. It consists of a main hull structure loosely moored to the seabed and surrounded by a floating buoy-like device that can freely move up and down in response to the passage of the waves.
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