Ocean Power Technologies Unveils Its Subsea Battery Solution
August 17 2020 - 9:00AM
Ocean Power Technologies, Inc. (“OPT” or “the Company”)
(NASDAQ: OPTT), a leader in innovative and cost-effective ocean
energy solutions, today announced the launch of its latest product,
the Subsea Battery solution.
OPT’s Subsea Battery solution is an environmentally friendly
lithium-iron phosphate battery system with a nominal storage
capacity of 132 kilowatt-hours. It utilizes OPT’s proprietary and
highly efficient battery management system which maximizes the
amount of energy available for subsea payloads. Modular design
allows multiple Subsea Battery units to be linked together to meet
larger energy requirements for a wide range of subsea equipment.
The Subsea Battery solution can be integrated with an OPT
PowerBuoy® for charging or used for standalone power.
“The introduction of our Subsea Battery marks OPT’s second
product launch this year,” said George H. Kirby, President and
Chief Executive Officer of OPT. “The ongoing electrification of
subsea assets requires reliable power that can scale to meet the
needs of the offshore industry. The Subsea Battery joins the
recently unveiled hybrid PowerBuoy® and our PB3 PowerBuoy® to form
an impressive suite of OPT power and communications solutions for
remote ocean applications.”
The Subsea Battery solution provides uninterruptable power for
long-term offshore installations requiring electric power, backup
or emergency power for short term missions, and is scalable with
multiple units to meet higher energy needs. Integration with OPT
PowerBuoy® products creates seamless, ocean-based autonomous power
solutions for subsea oil and gas production systems, aquaculture
systems, environmental sensors, and powering remotely operated
vehicles and autonomous underwater vehicles.
For more information, visit the Subsea Battery solution page on
the OPT website:
https://www.oceanpowertechnologies.com/subsea-battery
About Ocean Power TechnologiesHeadquartered in
Monroe Township, New Jersey, OPT aspires to transform the world
through durable, innovative, and cost-effective ocean energy
solutions. Its PowerBuoy® solutions platform provides clean and
reliable electric power and real-time data communications for
remote offshore and subsea applications in markets such as offshore
oil and gas, defense and security, science and research, and
communications. To learn more, visit
www.oceanpowertechnologies.com.
Forward-Looking StatementsThis release may
contain forward-looking statements that are within the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are identified by certain words or
phrases such as "may", "will", "aim", "will likely result",
"believe", "expect", "will continue", "anticipate", "estimate",
"intend", "plan", "contemplate", "seek to", "future", "objective",
"goal", "project", "should", "will pursue" and similar expressions
or variations of such expressions. These forward-looking statements
reflect the Company's current expectations about its future plans
and performance. These forward-looking statements rely on a number
of assumptions and estimates which could be inaccurate, and which
are subject to risks and uncertainties. Actual results could vary
materially from those anticipated or expressed in any
forward-looking statement made by the Company. Please refer to the
Company's most recent Forms 10-Q and 10-K and subsequent filings
with the SEC for a further discussion of these risks and
uncertainties. The Company disclaims any obligation or intent to
update the forward-looking statements in order to reflect events or
circumstances after the date of this release.
Contact Information
Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
Ocean Power Technologies (NASDAQ:OPTT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Ocean Power Technologies (NASDAQ:OPTT)
Historical Stock Chart
From Sep 2023 to Sep 2024