OPT Deploys PB40 Offshore New Jersey

Ocean Power Technologies, Inc. has deployed its PB40 PowerBuoy off the coast of New Jersey.

The deployment is OPT’s first since late 2013 and is a critical step in its intensified efforts to commercialize its technology.

The PB40 PowerBuoy weighs 130 tons, is 110 feet in length, operates in 45 meters or more of water, and incorporates new design features including a high voltage electric power generation, distribution and management system, as well as an advanced energy storage system to provide autonomous power for offshore applications. The PB40 is permitted to operate at this location for a period of one year during which performance and wave data will be collected and transmitted to its monitoring and analysis center at OPT headquarters in Pennington, NJ.

In addition, OPT anticipates deploying its APB350 A1 PowerBuoy later this summer and also readying its APB350 A2 PowerBuoy for deployment by the end of calendar 2015 as part of its strategic pivot to key autonomous offshore commercial applications and markets.

George H. Kirby, President and Chief Executive Officer of OPT said: “I again would like to thank the US Department of Energy for its investment in this program, as well as the European Union for its investment in support of the PB40 development and in the advancement of the global marine renewable energy industry. I would also like to note that we continue to make significant progress on our commercial generation APB350 A2 PowerBuoy, and we have begun development of our PB10 PowerBuoy, both of which are critical parts of our technology roadmap and overall commercialization strategy. PB10 will provide significantly more power generation capacity with a nominal increase in weight for applications requiring greater power. I am very excited about the progress we are making on our commercialization plan as we remain focused on our vision of transforming the world through innovative ocean energy solutions.”