Ocean Power Technologies Opens Houston Office to Support Energy Sector Business Development
August 18 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 establishment of its Houston,
Texas office in support of Gulf of Mexico and broader U.S.
and South American opportunities.
Strategically located in the CityCentre development adjacent to
Houston’s Energy Corridor near the intersection of I-10 and the Sam
Houston Tollway, the new OPT office will serve as the base for the
Company’s regional sales and business development activities,
headed by OPT’s VP Global Business Development Philipp Stratmann
and Senior Director of Sales, David Marchetti. In addition,
the new Houston office also enables OPT program managers,
engineers, and field operations personnel to collaborate with
customer project teams.
“Houston is the home of many global oil and gas operations and
related offshore industries, and is a hub of energy innovation,
human capital, and investment,” said George H. Kirby, President and
Chief Executive Officer of OPT. “As we expand our products and
solutions, it’s essential that our business development team is
based close to this important core customer segment, and our
project execution team is able to work closely with customers.”
OPT recently announced the launch of two new products – the
hybrid PowerBuoy® and Subsea Battery. Together with the ocean
proven PB3 PowerBuoy® autonomous wave energy converter, this suite
of power and communications products is the basis of OPT solutions
for a variety of offshore challenges in the Gulf of Mexico and
beyond. Applications include subsea equipment power and remote
control, environmental monitoring, enabling underwater vehicle
residency for inspection, maintenance, and repair activity, and
security with the recently unveiled OPT Surface Surveillance
Solution.
The new OPT office address is 12848 Queensbury Lane, Suite 208,
Office 119, Houston, Texas 77024.
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
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