John F. Kennedy got it right when he said that we go to the seaside to gaze at the place we came from. The oceans may no longer be our home, but we still depend indispensably on them. Oceans cover about 70 percent of the Earth’s surface, and their vast masses of phytoplankton provide around half the oxygen we breathe. Ocean Power Technologies (NASDAQ: OPTT) is a company focused on preserving and developing our heritage to the seas. It provides marine-based solutions to the oceanographic, oil and gas, and security and defense industries. Its PowerBuoy® technology uses the motion of the waves to generate power, providing reliable, cost effective, clean power to marine installations.
The PowerBuoy PB3 is a power and communications platform for remote offshore applications. It combines a number of patented technologies in hydrodynamics, electronics, power conversion, energy storage, and computer control systems to maximize the extraction and conversion of energy from…
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