Ocean Power Technologies Inc

Ocean Power Technologies Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America South America Europe and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software controls sensors integration services and marine installation services. In addition it offers distributed offshore power and communications for remote surface and subsea applications in markets such as defense and security offshore oil and gas science and research and offshore wind. Further the company provides Wave Adaptive Modular Vessel (WAM-V) technology which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Additionally it offers offshore data collection integration analytics and real time communication for various applications. The company serves public and private entities and agencies that require remote offshore power. Ocean Power Technologies Inc. was incorporated in 1984 and is headquartered in Monroe Township New Jersey.