Ocean Power Tech deploys PB40 wave device off New Jersey

US wave energy firm Ocean Power Technologies Inc (NASDAQ:OPTT), or OPT, said on Tuesday it has successfully deployed its PB40 PowerBuoy off the New Jersey coast.

The 130-tonne device will provide OPT with key performance data to speed up the ongoing product commercialisation and technology development efforts, the company said, adding that the unit has the permission to operate there for a one-year period.

The PB40 PowerBuoy includes a high voltage power generation, distribution and management system plus an advanced energy storage system that will be used to supply autonomous power for offshore applications.

Meanwhile, OPT is working to deploy its APB350 A1 PowerBuoy later this summer. The firm is also making progress on its APB350 A2 PowerBuoy and expects to deploy it by the end of the year. It has also begun developing the PB10 PowerBuoy.

“The A2 design includes an optimized hull geometry for improved wave energy extraction as well as reduced fabrication, transportation and deployment costs. PB10 will provide significantly more power generation capacity with a nominal increase in weight for applications requiring greater power,” explained George Kirby, president and CEO of OPT.

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