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Technology | 2009.10.01

Ocean Power Technologies Wins New $2.4 Million Contract from US Navy for Maritime Security

PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or “the Company") announces that it has achieved a significant milestone for its autonomous PowerBuoy® product with the award of a new $2.4 million contract from the US Navy to provide OPT’s PowerBuoy wave energy conversion system to the Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program. This contract, to be performed over a one year pe

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http://www.businesswire.com/news/home/20090930006461/en

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