Water Tower Hour Recap
In case you missed it, we recently hosted Ocean Power CEO Philipp Stratmann for our Water Tower Hour podcast, in which we covered several interesting topics. It provided a great overview of the company’s technology, strategy, and markets. We covered Ocean Power’s strategy for commercialization and how it is navigating this critical inflection point in the company’s history. Another key topic of interest in the strategy focused on creating recurring revenue and cash flow and the opportunity to build an “as-a-service” business using its technology platform for both military and commercial applications. We also discussed the company’s strong balance sheet position driving execution of growing backlog and toward profitability. Please find our previous research on OPTT on our website. The podcast can be accessed in this report or on our website.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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