PENNINGTON, N.J.--(BUSINESS WIRE)--May. 7, 2009--
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange
AIM: OPT) (“OPT”) is pleased to announce today that Dr. George W.
Taylor, Executive Chairman, received the 2009 Renewable Energy Navigator
Award from the Foundation for Ocean Renewables. This prestigious award
was presented to Dr. Taylor at the 2nd Annual Global Marine
Renewable Energy Conference recently held at the Carnegie Institute for
Science in Washington, DC. The honor was given in recognition of Dr.
Taylor’s service in promoting the responsible commercialization of
marine renewable energy. The award was sponsored by the Foundation for
Ocean Renewables, a non-profit, non-government organization founded to
promote energy technologies using clean, renewable ocean resources. The
award was presented by the Australian Trade Commissioner for the US, in
acknowledgment of Dr. Taylor’s Australian heritage.
Dr. Taylor is recognized as one of the world’s pioneers and leaders in
the development and establishment of wave energy technology for his work
over the past 25 years. He co-founded Ocean Power Technologies, Inc.,
and under his leadership OPT has become one of the world’s major wave
power companies. His earlier career included research, development and
commercialization of liquid crystal displays, piezoelectric and
ferroelectric materials and devices.
Sean O’Neil, President of the Ocean Renewable Energy Coalition said, “We
are delighted to give this recognition to Dr. Taylor for his many years
of tireless dedication to furthering the responsible development of
commercial marine energy. His entrepreneurial spirit, engineering
innovation and creativity have helped to expand international awareness
of the tremendous energy resource of the world’s oceans, and their
potential for creating clean, low-cost electricity.”
About Ocean Power Technologies
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange
AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean
wave resources to generate reliable, clean, and
environmentally-beneficial electricity. OPT has a strong track record in
harnessing wave energy and participates in a $150 billion annual power
generation equipment market. The Company's proprietary PowerBuoy® system
is based on modular, ocean-going buoys that capture and convert
predictable wave energy into low-cost, clean electricity. The Company is
widely recognized as the leading provider of on-grid and autonomous
wave-energy generation with its energy systems benefiting from over a
decade of in-ocean experience. OPT’s technology and systems are insured
by Lloyds Underwriters of London. OPT is headquartered in Pennington,
New Jersey with offices in Warwick, UK. More information can be found at www.oceanpowertechnologies.com.
Source: Ocean Power Technologies, Inc.
Ocean Power Technologies, Inc.
Mark R. Draper,
+1-609-730-0400
Chief Executive Officer
or
Charles F.
Dunleavy, +1-609-730-0400
Chief Financial Officer
or
Nomura
Code Securities Limited
Juliet Thompson, Richard Potts
+44
20 7776 1200
or
Media:
Corfin Communications
Neil
Thapar, Martin Sutton
+44 20 7977 0020
