Ocean Power Technologies (OPTT) Higher After Award For Australian Power Project
Ocean Power Technologies, Inc (Nasdaq: OPTT) is on the move mid-day after announcing, in partnership with Leighton Contractors Pty, it has received a A$66.46 million grant from the Federal Government of Australia to build a 19 MW wave power project off the coast of Victoria, Australia.
The award is one of four renewable energy projects approved by the Federal Government after considering over 30 applications, and is the sole wave energy venture.
Shares of OPTT are up 35% currently.
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