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Ocean Power Technologies (OPT)
About
Ocean Power Technologies focuses on capturing and converting wave energy into electricity using innovative power take-off systems.
- 51 - 100
Details
- Last Funding Type
- Grant
- Last Funding Money Raised
- $1.10M
- Industries
- Energy,Energy Storage,Renewable Energy
- Founded date
- Jan 1, 1994
- Number Of Employee
- 51 - 100
- Operating Status
- Active
Ocean Power Technologies, Inc. develops and is commercializing systems that generate electricity by harnessing the renewable energy of ocean waves. The Company's PowerBuoy systems use technologies to convert the mechanical energy created by the rising and falling of ocean waves into electricity. The Company offers two PowerBuoy products, which consist of its utility PowerBuoy system and its autonomous PowerBuoy system. The Company’s utility PowerBuoy system, which is designed to supply electricity to a local or regional electric power grid, and the Company’s autonomous PowerBuoy system, which is designed to generate power for use independent of the power grid in remote locations.
Funding Rounds
| Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
|---|---|---|---|---|---|---|
| Jul 18, 2022 | Grant | $1.10M | 1 |
US Department of Energy
|
— | Detail |
Investors
| Investor Name | Lead Investor | Funding Round |
|---|---|---|
|
US Department of Energy
|
Yes | Grant |
