Investor's Champion Blog
Provides refreshingly forthright, independent comment on predominantly small cap companies and specialist investment funds. Informed opinion, based on first-hand research, but pulls no punches in exposing management weaknesses.

More good news for Ocean Power Technologies - a great concept

Good news today from my wave power investment, AIM quoted Ocean Power Technologies, as it announced that it has been awarded a grant of $1.2 million (£641,000) through the Scottish Minister's Wave and Tidal Energy Support Scheme.

Funjds has been awarded for the construction, installation and in-ocean demonstration of OPT's latest 150kW PowerBuoy(R) design, the PB150.

Under the project, the PB150 PowerBuoy will be installed at the European Marine Energy Centre (EMEC) on Orkney where it will be grid connected through one of EMEC's wave energy berths.

The PB150 is the latest in OPT's PowerBuoy product offering. Once fully demonstrated at EMEC, the Company intends to deploy the PB150 in projects currently under development in Spain (it has good links with Iberdrola), Southwest England, France and the USA, as well as for projects the Company is looking to develop in Scotland and other countries.

This appears to be another vote of confidence in OPT’s technology. Let’s hope that others start to take notice because this certainly comes across as a compelling concept.


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