Ocean Power Technologies Hits Project Snags in Oregon and Spain, but Expects Stronger Demand Next Fiscal Year

SUGAR LAND--July 15, 2013--Researched by Industrial Info Resources (Sugar Land, Texas)--Ocean Power Technologies Incorporated (NASDAQ:OPTT) (OPT) (Pennington, New Jersey), which designs and produces wave-energy devices for the renewable power sector, saw continued progress but weaker revenues from major projects worldwide in its fiscal fourth-quarter and full-year 2013. Industrial Info is tracking progress on the $600 million Reedsport project, as well as the estimated $170 million construction of a wave energy power station in Portland, Victoria, Australia.

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