Ocean Power Technologies
Ocean Power Technologies provides intelligent maritime solutions for safer, cleaner, and more productive ocean operations across various industries, headquartered in Monroe Township, New Jersey.
Overview of Ocean Power Technologies
Ocean Power Technologies (OPT) provides intelligent maritime solutions designed to enable safer, cleaner, and more productive ocean operations. The company serves various markets including defense and security, oil and gas, science and research, and offshore wind. Founded in 1984 and headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California, OPT initially focused on the research and development of large systems to harness ocean power for electrical grids.
Products and Technology
OPT's key product, the PB3 PowerBuoy®, is an Uninterruptable Power Supply (UPS) that recharges itself by harvesting wave energy. It can operate in ocean depths ranging from 20 meters to 3,000 meters and supplies continuous power to onboard payloads or seabed equipment. OPT also offers the Subsea Battery, which uses lithium-iron phosphate (LiFeP04) batteries to power subsea payloads. The WAM-V® (Wave Adaptive Modular Vessel) is another innovative product, available in three sizes, designed to minimize structural loading using an articulating suspension system.
Acquisitions and Collaborations
In early 2021, Ocean Power Technologies acquired 3Dent Technology, a company specializing in offshore energy engineering and design services. Later that year, OPT acquired Marine Advanced Robotics, a developer and manufacturer of autonomous surface vehicles (ASVs). These acquisitions have expanded OPT's capabilities and product offerings in the maritime sector.
Innovative Solutions
OPT’s solutions span across several specialized areas. The company offers PowerBuoy® platforms that provide both electric power and data communications for remote maritime and subsea applications. Their renewable ocean-wave based technology offers cost-effective solutions for the oil and gas industry, while their Subsea Power Solution provides autonomously generated electrical power for remote offshore areas. The Maritime Domain Awareness Solution enhances maritime law enforcement, and the Ocean Monitoring Solution offers customized sensor suites for applications such as mammal tracking, ocean analysis, and environmental monitoring.
Global Deployments and Milestones
OPT's PB3 PowerBuoy® technology has been deployed in various locations, including the Atlantic, Pacific, Mediterranean, and North Sea. The company has received funding from the Naval Postgraduate School for a year-long PowerBuoy® deployment in Monterey Bay, California. With nearly 15MWh of renewable energy production from its PowerBuoy® family, OPT continues to make strides in sustainable ocean energy solutions. The company has also secured $1.5 million in purchase orders for WAM-V USVs in Latin America.