UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): April 30, 2019
Ocean Power Technologies, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33417 | 22-2535818 | ||
| (State or other jurisdiction | (Commission | (I.R.S. Employer | ||
| of incorporation) | File Number) | Identification No.) |
| 28 Engelhard Drive, Suite B | ||
| Monroe Township, New Jersey | 08831 | |
| (Address of principal executive offices) | (Zip Code) |
(609) 730-0400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.133-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 8.01 Other Events.
On April 30, 2019 Ocean Power Technologies, Inc. issued a press release announcing participation in the U.S. Navy League’s Sea-Air-Space Exposition at the Gaylord National Convention Center, in National Harbor, Maryland, May 6th through May 8th, 2019. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.
On May 2, 2019 Ocean Power Technologies, Inc. issued a press release announcing participation in the Offshore Technology Conference from May 6th through 9th, 2019 at the NRG Park in Houston, Texas. A copy of the press release is furnished as Exhibit 99.2 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
*Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 2, 2019
| OCEAN POWER TECHNOLOGIES, INC. | |
| /s/ George H. Kirby III | |
| George H. Kirby III | |
| President and Chief Executive Officer |
Exhibit 99.1
 |
NEWS RELEASE |
Ocean Power Technologies to Exhibit at Sea-Air-Space – The Navy League’s Global Maritime Exposition
Largest Maritime Expo in the U.S. Takes Place from May 6-8, 2019 in National Harbor, Maryland
Monroe Township, N.J., April 30, 2019 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today the company will be an exhibitor at the U.S. Navy League’s Sea-Air-Space Exposition at the Gaylord National Convention Center, in National Harbor, Maryland, May 6th through May 8th.
OPT exhibited at the 2018 Forum for SBIR/STTR Transition Program, a program sponsored by the Office of Naval Research (ONR) which was held in conjunction with the Sea Air Space Exhibition.
OPT will be featured in Booth #2836 in a prime location in the main hall of the Expo, the largest maritime exposition in the U.S.
OPT engineers and technical sales staff will be available at the booth to explain the latest features of OPT’s hybrid PowerBuoy®, Station-keeping buoy, and the PB3 PowerBuoy® and can answer any questions you may have about our groundbreaking autonomous maritime solutions.
Company representatives will also be providing updates on current projects and new product development.
George H. Kirby, President and Chief Executive Officer of Ocean Power, commented, “We were honored to accept the Navy League’s invitation to participate in the 2019 Sea-Air-Space show. Our reps will be showcasing OPT’s hybrid PowerBuoy®, and our latest and most advanced PB3 PowerBuoy® product line, as well as highlighting the broad range of potential applications for these offshore energy production and storage devices.”
He continued, “We believe our products make it possible for enterprises of all sorts to operate offshore 24/7, 365 days a year. Our products provide the energy support infrastructure that we believe these enterprises need to complete their projects efficiently and on schedule.”
Kirby concluded by noting, “I was very pleased to hear that the theme for this year’s Sea-Air-Space is Sustainability, Agility, Superiority, because OPT’s products are designed from the ground up with all three of these characteristics in mind.”
About the Navy League’s Sea-Air-Space Exposition
The Navy League’s Sea-Air-Space Exposition was founded in 1965 as a means to bring the U.S. defense industrial base, private-sector U.S. companies and key military decision makers together for an annual innovative, educational, professional and maritime based event located in the heart of Washington, DC. Sea-Air-Space is now the largest maritime exposition in the U.S. and continues as an invaluable extension of the Navy League’s mission of maritime policy education and sea service support. To learn more, visit www.seaairspace.org.
About Ocean Power Technologies
Headquartered in Monroe Township, New Jersey, Ocean Power Technologies aspires to transform the world through durable, innovative and cost-effective ocean energy solutions. Its PowerBuoy® and subsea battery solution product lines, along with its innovation and support services provide clean and reliable electric power and real-time data communications for remote offshore and subsea applications in markets such as oil and gas, defense and security, science and research, and communications. To learn more, visit www.oceanpowertechnologies.com.
For Further Information:
Follow us on Twitter: https://twitter.com/OceanPowerTech
Follow us on Facebook: https://www.facebook.com/oceanpowertechnologies
Follow us on LinkedIn: https://www.linkedin.com//company/ocean-power-technologies
Forward-Looking Statements
This release may contain “forward-looking statements” that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate, and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company’s most recent Forms 10-Q and 10-K and subsequent filings with the SEC for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Investor Relations Contact:
Michael Porter, President
Porter, LeVay & Rose
Email: ocean@plrinvest.com
Phone: 212-564-4700
Business Development Contact:
David Marchetti, Senior Director, Americas
Ocean Power Technologies, Inc.
Email: dmarchetti@oceanpowertech.com
Phone: 609-730-0400
Ocean Power Technologies, Inc.
www.oceanpowertechnologies.com
Exhibit 99.2
 |
NEWS RELEASE |
Ocean Power Technologies to Exhibit at the 2019 Offshore Technology Conference
OPT will be Featuring its Newest Technologies and Providing Updates on Current Projects
Monroe Township, N.J., May 2, 2019 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, will be an exhibitor at the Offshore Technology Conference (OTC) 2019 from May 6-9, 2019 at the NRG Park in Houston, TX. OPT has now attended OTC, one of the largest and most-recognized offshore industry conferences, for three consecutive years.
Investors, members of the media, and other interested parties are invited to drop by Booth #10945, located just outside of the Hall A entrance at the NRG Center, to speak to OPT representatives regarding their latest technology and developments. OTC 2019 is a great opportunity to learn more about OPT’s products and rapidly developing capabilities to support a broad range of commercial offshore operations, including oil and gas exploration and production operations.
George H. Kirby, President and Chief Executive Officer of OPT, emphasized the wide range of companies represented at OTC 2019, as well as the business development opportunities for OPT: “OTC is one of the top offshore oil and gas industry conferences, and we are happy to be in Houston to showcase our products and services for the third straight year. Thousands of attendees will get a chance to see our PowerBuoy® technology firsthand and learn more about OPT’s surface and deep-sea product lines, when they visit our exhibit at OTC 2019.”
Kirby continued to highlight one potential application for the PowerBuoy®: “The Gulf of Mexico is the largest oil field decommissioning market in the world with more than 9,000 wells that require plugging and abandonment. With OPT’s PowerBuoy® Exclusion Zone Monitoring™ solution, we believe that firms can decrease costs and increase safety by providing autonomous surveillance and monitoring. In addition, the PowerBuoy® can be used by resident underwater vehicles for recharging and data transfer, which enables enhanced visual tracking and intervention during well plugging and abandonment. We believe that our PB3 PowerBuoy® eliminates the need for expensive on-site vessels by offering a clean and renewable solution while being controlled remotely from onshore.”
In concluding, Kirby noted: “We believe that our latest high-tech solutions will be game changers in the offshore oil and gas market and anticipate a great deal of interest in our products at OTC 2019.”
About the Offshore Technology Conference (OTC)
The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters.
Celebrating 50 years since 1969, OTC’s flagship conference is held annually at NRG Park (formerly Reliant Park) in Houston. OTC has expanded technically and globally with the Arctic Technology Conference, OTC Brasil, and OTC Asia. To learn more, visit http://2019.otcnet.org/welcome.
About Ocean Power Technologies
Headquartered in Monroe Township, New Jersey, Ocean Power Technologies aspires to transform the world through durable, innovative and cost-effective ocean energy solutions. Its PowerBuoy® and subsea battery solution product lines, along with its innovation and support services provide clean and reliable electric power and real-time data communications for remote offshore and subsea applications in markets such as oil and gas, defense and security, science and research, and communications. To learn more, visit www.oceanpowertechnologies.com.
For Further Information:
Follow us on Twitter: https://twitter.com/OceanPowerTech
Follow us on Facebook: https://www.facebook.com/oceanpowertechnologies
Follow us on LinkedIn: https://www.linkedin.com//company/ocean-power-technologies
Forward-Looking Statements
This release may contain “forward-looking statements” that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate, and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company’s most recent Forms 10-Q and 10-K and subsequent filings with the SEC for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Investor Relations Contact:
Michael Porter, President
Porter, LeVay & Rose
Email: ocean@plrinvest.com
Phone: 212-564-4700
Business Development Contact:
David Marchetti, Senior Director, Americas
Ocean Power Technologies, Inc.
Email: dmarchetti@oceanpowertech.com
Phone: 609-730-0400
Ocean Power Technologies, Inc.
www.oceanpowertechnologies.com