Renewable energy company specializing in ocean wave energy conversion technology.
Ocean Power Technologies, Inc. specializes in developing and commercializing innovative systems that harness renewable energy from ocean waves across global markets including North America, South America, Europe, and Asia. Established in 1984 and headquartered in Monroe Township, New Jersey, the company's flagship product is the PB3 PowerBuoy system. This technology generates autonomous electricity offshore, providing a reliable power source independent of the grid. Ocean Power Technologies also offers a range of hybrid PowerBuoy products, subsea battery systems, software, controls, sensors, integration services, and marine installation services.
Beyond energy solutions, Ocean Power Technologies extends its expertise to diverse industries such as defense, offshore oil and gas, science, research, and offshore wind. It provides distributed offshore power and communication capabilities for both surface and subsea applications. The company's Wave Adaptive Modular Vessel (WAM-V) technology enhances the mobility of uncrewed maritime systems, offering leased robotics, access information, and maritime domain awareness solutions. Additionally, Ocean Power Technologies delivers strategic consulting services and facilitates offshore data collection, integration, analytics, and real-time communications for various operational needs.
Catering to public and private entities requiring remote offshore power solutions, Ocean Power Technologies is at the forefront of advancing sustainable energy technologies in marine environments. With a robust portfolio and a commitment to innovation, the company continues to drive the evolution of ocean-based renewable energy solutions worldwide.