1. The company announced a teaming agreement with Lockheed Martin
On July 11, 2012 the company and Lockheed Martin (LMT) entered into a teaming agreement with the goal of developing a 19 megawatt wave-energy project in Portland, in the state of Victoria, Australia. This is one of the largest wave-energy projects announced to date, and leverages a grant from the Commonwealth of Australia. The Commonwealth of Australia has granted $65.3 million for the project
2. The stock is trading below net cash
According to the most recent quarterly filing filed on March 12, the company's total cash, cash equivalents, restricted cash and investments were $37.8 million on January 31, 2012.
3. The company has six projects ongoing
1.....LEAP Autonomous PowerBuoy in New Jersey: OPT has successfully operated an autonomous PowerBuoy off New Jersey, designed and manufactured by OPT under the U.S. Navy's Littoral Expeditionary Autonomous PowerBuoy (LEAP) program for coastal security and maritime surveillance. 2......Project Coos Bay in Oregon: 3......Project Reedsport in Oregon: OPT is developing a commercial wave park on the west coast of the United States 4......Project Santoña, Spain: In July 2006, OPT formed a joint venture with Iberdrola S.A., global oil major Total (TOT), the Spanish Government
5......Project Cornwall, England: OPT aims to develop its PowerBuoy technology at Wave Hub, an innovative renewable energy project in the South West of England 6.......Project Portland, Victoria, Australia: Ocean Power Technologies (Australasia) Pty Ltd is developing a 19 megawatts wave power station connected to the grid near Portland, Victoria.
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