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
Tag Archives: hawaii
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
Ocean Power Technologies (OPTT) Reported Increasing Losses
Yesterday, Ocean Power Technologies (OPTT), reported a wider loss in fiscal year 08 despite a surge in revenues (although quarterly revenues have been decelerating over the past 2 quarters). The net loss widened to 14.66 million on revenues of 4.77 million from 9.64 million in the previous year on revenues of 2.53 million.
Ocean Power is certainly pinning its hopes on the success of the PowerBuoy wave energy system which it is putting quite a … Read the rest