Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it is nearing 15MWh of renewable energy production from its family of PowerBuoys, its marine power stations that harvest energy from waves.
The provider of intelligent maritime solutions and services said that the recent launch of its Next Generation PowerBuoy off the coast of New Jersey has accelerated its average energy production by combining solar, wind, and wave energy capabilities.
It said its renewable energy production comes from PowerBuoy deployments in the Atlantic, Pacific, Mediterranean and North Sea.
The deployments are a mix of government-backed development programs and commercial leases and sales to customers including ENI, EGP, the Office of Naval Research and the DeepStar consortium inclusive of Chevron, CNOOC, Equinor, ExxonMobil, JX Nippon, Occidental, PetroBras, Shell, and Woodside.
"These numbers show that non-grid connected marine energy production is not just for the R&D community, but is a commercially available solution," OPT CEO Philipp Stratmann said in a statement.
The company also highlighted that its PowerBuoys have demonstrated they are a proven solution for Anti-Submarine Warfare, Intelligence, Surveillance, and Reconnaissance, Unmanned Surface Vehicle Charging (USV), and Environmental Sensing.
"Charging USVs, monitoring the marine environment, including during whale migration season, and supporting the defense and security industry is all possible," Stratmann said. "We have worked with customers in defense, offshore wind, oil and gas, and general ocean sciences and look forward to announcing more deployments."