Ocean Power Technologies, Inc. - Common Stock (OPTT)
Frequently Asked Questions About Ocean Power Technologies, Inc. - Common Stock (OPTT)
Does Ocean Power Technologies have any ongoing projects?
Yes, Ocean Power Technologies has several ongoing projects focused on deploying their PowerBuoy technology in various locations. These projects include pilot programs and installations aimed at proving the technology's effectiveness, securing customer contracts, and expanding its commercial footprint.
How can investors stay updated on Ocean Power Technologies?
Investors can stay updated on Ocean Power Technologies by following the company's official website, subscribing to press releases and newsletters, and keeping an eye on financial news sites. The company also holds quarterly earnings calls and other investor relations activities that provide insights into performance and developments.
How does Ocean Power Technologies contribute to sustainability?
Ocean Power Technologies contributes to sustainability by offering a renewable energy solution that reduces reliance on fossil fuels and lowers greenhouse gas emissions. By harnessing the power of ocean waves, the company supports the global shift towards clean energy and helps mitigate the impacts of climate change.
How does Ocean Power Technologies ensure safety in its operations?
Ocean Power Technologies prioritizes safety by adhering to strict engineering standards, conducting thorough risk assessments, and ensuring compliance with relevant regulations. The company emphasizes a culture of safety in both development and operational phases to protect personnel, equipment, and the environment.
How does the PowerBuoy generate electricity?
The PowerBuoy generates electricity through a combination of mechanical and electrical systems that convert wave energy into usable power. As ocean waves move the buoy, internal components harness this motion, driving generators that produce electricity, which can then be used immediately or stored for future use.
Is Ocean Power Technologies involved in any partnerships?
Yes, Ocean Power Technologies has engaged in several partnerships with various organizations, including government agencies, research institutions, and private companies. These collaborations aim to support research, development, and deployment of wave energy technology, as well as to explore new market opportunities and applications.
What are the financial goals of Ocean Power Technologies?
Ocean Power Technologies aims to achieve financial sustainability through revenue growth from technology deployments, partnerships, and government grants. By scaling their operations, optimizing costs, and expanding market reach, the company seeks to enhance its financial stability and long-term profitability.
What are the future plans for Ocean Power Technologies?
Ocean Power Technologies plans to continue advancing its wave energy technology, expanding its deployments globally, and exploring new applications for its PowerBuoy systems. The company aims to strengthen partnerships, pursue research and development initiatives, and ultimately drive growth in renewable energy markets.
What are the potential applications of the energy generated by Ocean Power Technologies?
The energy generated by Ocean Power Technologies can be utilized in various applications, including powering offshore oil and gas platforms, providing energy to coastal communities, supporting marine research facilities, and powering navigation aids. The flexibility of their technology allows for a wide range of energy needs to be fulfilled.
What challenges does Ocean Power Technologies face?
Ocean Power Technologies faces several challenges, including technical obstacles related to the harsh marine environment, regulatory hurdles, securing funding for project development, and competition from other renewable energy technologies. Overcoming these challenges is crucial for the company's growth and market penetration.
What does Ocean Power Technologies, Inc. do?
Ocean Power Technologies, Inc. (OPTT) specializes in developing and commercializing innovative systems that harness renewable energy from ocean waves. The company focuses on wave energy conversion technology to generate clean, sustainable energy, which can be utilized by various industries and applications.
What is the current stock performance of Ocean Power Technologies?
The current stock performance of Ocean Power Technologies can be monitored through financial news platforms and stock market tracking websites. Stock prices are subject to change based on market conditions, investor sentiment, and company developments, so it's essential to review real-time data for the latest information.
What is the mission of Ocean Power Technologies?
The mission of Ocean Power Technologies is to leverage innovative wave energy technologies to deliver reliable, cost-effective, and environmentally friendly energy solutions. The company strives to play a pivotal role in the transition to renewable energy and help address the challenges posed by climate change.
What is the primary technology used by Ocean Power Technologies?
The primary technology developed by Ocean Power Technologies is the PowerBuoy, a wave energy converter that captures the kinetic and potential energy of ocean waves. The PowerBuoy systems are designed to convert wave motion into electrical power, which can be deployed for various applications, including offshore energy generation and coastal monitoring.
What is the target market for Ocean Power Technologies?
Ocean Power Technologies targets multiple markets including energy generation for utilities and coastal communities, remote power for offshore installations, and energy solutions for defense applications. The versatility of their technology positions them to cater to diverse energy needs and support sustainable initiatives globally.
What makes Ocean Power Technologies unique in the renewable energy sector?
Ocean Power Technologies stands out in the renewable energy sector due to its exclusive focus on wave energy conversion and its innovative PowerBuoy technology. Unlike other renewable energy companies, OPTT offers a solution tailored specifically to the vast and largely untapped potential of ocean waves, positioning itself for unique market opportunities.
When was Ocean Power Technologies founded?
Ocean Power Technologies was founded in 1984, making it one of the pioneering companies in wave energy technology. Since its inception, the company has been dedicated to advancing renewable energy solutions and contributing to the global transition to sustainable power sources.
Where is Ocean Power Technologies headquartered?
Ocean Power Technologies is headquartered in Monroe Township, New Jersey, USA. This strategic location allows the company to engage with various stakeholders in the renewable energy sector and efficiently collaborate with research institutions and industry partners.
Who are the key executives at Ocean Power Technologies?
The leadership team at Ocean Power Technologies comprises seasoned professionals with extensive experience in engineering, renewable energy, and business management. Key executives include the CEO, CFO, and other senior leaders who drive the company’s strategic direction and operational execution.
What is the current price of Ocean Power Technologies, Inc. - Common Stock?
The current price of Ocean Power Technologies, Inc. - Common Stock is 0.3000
When was Ocean Power Technologies, Inc. - Common Stock last traded?
The last trade of Ocean Power Technologies, Inc. - Common Stock was at 4:10 pm EST on December 31st, 2025
What is the market capitalization of Ocean Power Technologies, Inc. - Common Stock?
The market capitalization of Ocean Power Technologies, Inc. - Common Stock is 58.49M
How many shares of Ocean Power Technologies, Inc. - Common Stock are outstanding?
Ocean Power Technologies, Inc. - Common Stock has 194.96M shares outstanding.