Executive Summary
A titanic shift in the energy sector is underway, how we generate power, transfer and use in our daily lives changing at a more faster pace than it happened during the industrial revolution. The scale is massive and the stakes couldn’t be higher, trillions of dollars are being invested in ‘green power’ and a disproportionate amount of government and private sector investment are being channeled to massive solar and wind farms (onshore/offshore).
The wind, however, is shifting quickly toward ‘offshore’, after years of wrangling for the first time in the US, a massive 62 turbine wind project, off the coast of Martha’s Vineyard was fast tracked and approved by the Federal Government in May, the offshore project is expected to generate enough electricity to power more than 400,000 American homes.
A new kid on the block
Wind farms are as old as the ‘flying Dutchman’, harvesting power from massive ocean waves and storing that power in batteries to supply 24/7 is creating ‘new waves’ in green tech world. The company that revolutionizing the next generation of harvesting electrical power from the massive ocean waves is based in New Jersey and has a proven, patented technology that’s being used to power rigs by a major oil company in the North Sea.
The Opportunity
Ocean Power, OPTT, is a one of kind, innovative, Green Power Technology Company poised to grab a piece of trillions being invested in ‘decarbonizing’ efforts around the globe. The stock is trading around $2.50/share and the company has been added to Russell Microcap Index, effective June 28th, we believe that would bring more exposure, attract investment dollars from the money managers and hedge funds looking to invest in the future green power platforms.
POWERBUOY®
The OPT PowerBuoy® line of products – PB3 PowerBuoy® and hybrid PowerBuoy® – provide persistent, reliable and cost-effective autonomous marine power and communications to support industrial, scientific, and territorial maritime activities.
Dependable, clean, and environmentally friendly PowerBuoy® products can enable existing and new technologies to operate in remote ocean locations.
With customizable topside and subsea payloads, a PowerBuoy® -based solution can provide power and communications for a wide range of offshore applications including subsea equipment, maritime domain awareness, ocean monitoring, and communications.
PowerBuoy® products’ data communications abilities enable new technical solutions and enhanced capability in remote offshore locations and offer real-time remote user control and monitoring of equipment. Data can be securely relayed worldwide via WiFi, cellular (4G/5G), and satellite networks.
PowerBuoy® products integrate patented technologies in hydrodynamics, electronics, energy storage, energy conversion, and computer control systems to produce reliable, clean, and environmentally beneficial electricity for long-term or short-term offshore applications. OPT continues to expand the PowerBuoy® platform to meet the needs of offshore operators.
SUBSEA BATTERY
The Ocean Power Technologies Subsea Battery solution is an economical and reliable way to power subsea payloads.
Energy is stored in high capacity, zero-maintenance, and environmentally friendly (no heavy metals) lithium-iron phosphate (LiFeP04) batteries. The solidly constructed all-steel pressure vessel is designed to ASME standards for a 10-year life and is rated for up to 500 meters maximum water depth.
The Subsea Battery solution features 132 kWh total nominal capacity with up to 15 kW peak power delivery.
LiFeP04 batteries have extremely low self-discharge rates while in standby mode, storage or transport, as compared to other chemistries. OPT’s proprietary, highly efficient control and battery management systems further maximizes the amount of energy available for payloads, allowing the battery to remain in an active state longer than conventional battery designs.
Under normal operating conditions the Subsea Battery solution supports thousands of charge/discharge cycles. Designed to integrate with OPT’s PB3 PowerBuoy® and hybrid PowerBuoy® products, the Subsea Battery solution can also be utilized as a standalone power source or can be configured for recharge by other sources.
Source: The Company, OxBridge Research, Daily Stock Deals, Penny Stock IQ
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