Courtesy photo - The APB350 A2 PowerBuoy
Ocean Power Technologies, Inc. (OPT) recently announced that it successfully deployed its APB350 A1PowerBuoy approximately 14 miles northeast of Atlantic City.
George H. Kirby, President and Chief Executive Officer of OPT, commented, "The APB350 A2 PowerBuoy, targeted to be ready for deployment later this fiscal year, is expected to feature an optimized hull geometry for improved wave energy extraction as well as reduced fabrication, transportation and deployment costs and a new high voltage ESS for better efficiency. We believe this optimized hull geometry combined with the new ESS will allow greater power capture and more efficient storage in a smaller, lighter buoy. I am very excited about A2's market prospects and the feedback we are receiving on the APB350 as we remain focused on our strategic pivot to commercialize our autonomous buoys."
Headquartered in Pennington, Ocean Power Technologies is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. OPT has developed and is seeking to commercialize its proprietary PowerBuoy® technology, which is based on a modular design and has undergone periodic ocean testing since 1997.