Ocean Power Technologies (OPTT) Swings to Q1 Profit

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Go back to Ocean Power Technologies (OPTT) Swings to Q1 Profit

Ocean Power Technologies Announces Results for the Fiscal First Quarter Ended July 31, 2015

September 8, 2015 7:30 AM EDT

PENNINGTON, N.J., Sept. 8, 2015 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq: OPTT) ("OPT" or "the Company") today announced financial results for its Fiscal 2016 first quarter ended July 31, 2015 ("fiscal 2016").

George H. Kirby, President and Chief Executive Officer of OPT, stated, "We believe that the Company is continuing to achieve progress on both the use of new designs and the move toward commercialization of its PowerBuoys. As announced earlier today, following the end of the first quarter, we deployed the APB350 (A1). We also established a Technical Advisory Panel (TAP), which will be... More

Ocean Power Technologies Successfully Deploys APB350 PowerBuoy Off the Coast of Atlantic City, New Jersey

September 8, 2015 6:30 AM EDT

PENNINGTON, N.J., Sept. 8, 2015 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq: OPTT) ("OPT" or "the Company") announced today that it successfully deployed its APB350 A1 PowerBuoy approximately 14 miles northeast of Atlantic City, New Jersey.

The APB350 A1 contains an improved Power Takeoff (PTO) system compared to the APB350 that was deployed in 2011 in connection with the U.S. Navy's Littoral Expeditionary Autonomous PowerBuoy ("LEAP") Program and then redeployed in 2013 in conjunction with the U.S. Department of Homeland Security.

George H. Kirby, President and Chief Executive Officer of... More

Ocean Power Technologies Successfully Deploys APB350 PowerBuoy Off the Coast of Atlantic City, New Jersey

September 8, 2015 6:30 AM EDT

PENNINGTON, N.J., Sept. 8, 2015 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq: OPTT) ("OPT" or "the Company") announced today that it successfully deployed its APB350 A1 PowerBuoy approximately 14 miles northeast of Atlantic City, New Jersey.

The APB350 A1 contains an improved Power Takeoff (PTO) system compared to the APB350 that was deployed in 2011 in connection with the U.S. Navy's Littoral Expeditionary Autonomous PowerBuoy ("LEAP") Program and then redeployed in 2013 in conjunction with the U.S. Department of Homeland Security.

George H. Kirby, President and Chief Executive Officer of... More