The shares of leading innovative and cost-effective ocean energy solutions provider Ocean Power Technologies Inc. (OPTT) have been trading up 3.54% in early trades today, rising to $2.63 at last check.
Sealed at $2.54, Ocean Power stock rose 11.40% on Wednesday. OPTT oscillated between $2.21 and $2.63 during the trading session. Today the OPTT stock rose on news of a new green solution being deployed in Italy for green initiatives.
Deployment in brief:
At its HQ in Monroe Township, New Jersey, Ocean Power Technologies designs, manufactures, and sells durable, innovative, and cost-effective ocean energy solutions. In markets such as offshore oil and gas, defense and security, science and research, and communications, the Powerbuoy solutions platform of OPTT provides clean and reliable electric power and real-time data communications.
Ocean Power Technologies has announced that a PB3 PowerBuoy is being deployed for Enel Green Power (EGP) off the coast of Las Cruces, Chile to support energy transition efforts in the country.
- EGP purchased a PB3 PowerBuoy and associated equipment from OPTT in September 2019.
- EGP did so to support Chile’s MERIC Project, a hub for marine energy innovations in Chile and around the globe.
- Wave motion is converted into clean, reliable electricity by OPTT’s PowerBuoy PB3 to provide continuous and autonomous power and to allow secure data collection and relay from the sea.
Ocean Power (OPTT)’s platform of autonomous technology will eventually be used to power marine sensors and transmit real-time environmental data to an onshore station studying how marine energy works in real-world conditions with a minimum carbon footprint.