The US Navy continues to invest in the wave energy technologies of Ocean Power Technologies (OPTT) as part of their anti-terrorism and maritime surveillance program. The new award follows the successful completion of the first stage of a four-year $15.0 million project for the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program during which OPT successfully completed delivery of the design and testing of a new power take-off system for its PowerBuoy wave energy system. … Read the rest
Tag Archives: us navy
Ocean Power Technologies (OPTT) Deploys PowerBuoy At Marine Base, Receives $380K In Funding
Ocean Power Technologies (OPTT) has successfully deployed one of its PowerBuoy systems at a Marine base in Hawaii as part of an ongoing relationship with the US Navy to test its wave energy technologies. This particular wave energy system is located about a mile offshore in 100 feet of water and is generating power in line with expectations. The press release was a bit unclear about who is providing the funding, but the company announced … Read the rest
Ocean Power Technologies (OPTT) Continues Surge Off Bottom, Gets $2.4 Navy Contract
On Aug 25th I mentioned that OPTT was offering a mighty compelling spot to add a long term position around 4 based on previous support and the progression of its PowerBuoy system.. not to mention this is one of the few green stocks that hasn’t had a run this year. The stock is up 20% since then and I don’t think it’s done yet.
This morning, the company is announcing a new $2.4 million contract … Read the rest
Altair Nanotechnologies (ALTI) Gets $3.8 Million From Navy For Lithium Battery Research
Altair Nanotechnologies (ALTI) is up nearly 15% in after hours of trading after it was announced the company is receiving $3.8 million from the Office of Naval Research for the ongoing research and design of Altair’s large scale lithium battery storage systems for the potential use on Navy ships as un uninterruptible power supply. The battery would allow the Navy to run only one gas turbine generator efficiently as opposed to two and provide enough … Read the rest
Ocean Power Technologies (OPTT) Launches PowerBuoy In Hawaii
Ocean Power Technologies (OPTT) announced last week that it has installed its 3rd PowerBuoy wave energy system in Hawaii near the Kaneohe Bay on the island of Oahu as part of an ongoing partnership with the US Navy. OPTT monitors its PowerBuoy systems in New Jersey in real time with the use of onboard sensors, but the PowerBuoy has the ability to adjust automatically in changing sea states to produce the most amount of wave … Read the rest