SOURCE: Industrial Info Resources

Industrial Info Resources

July 15, 2011 06:30 ET

Ocean Power Technologies Prepares PowerBuoy Wave Energy Technology for Commercial-Scale Operations, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Jul 15, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Ocean Power Technologies Incorporated (NASDAQ:OPTT) (OPT) (Pennington, New Jersey), which designs and produces wave-energy devices for the renewable power sector, yesterday reported fourth-quarter and full-year earnings results for the company's fiscal year 2011, which ended April 30. As OPT's PowerBuoy wave power technology is increasingly tested and proven effective, the company's orders backlog continues to grow. As of April 30, 2011, OPT's order backlog was $8.9 million, up 56% from the $5.7 million backlog at the same time last year.

The company will use its PB150 model PowerBuoy, which OPT claims can generate an average of 150 kilowatts in suitable ocean conditions, in its grassroot wave power park near Reedsport, Oregon.

IIR's Renewable Energy Database provides extensive coverage on the wind energy, geothermal, hydroelectric, landfill gas-to-energy and utility-scale solar power plants throughout North America, with expanding coverage across the world.

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