Ocean Power Technologies' Portland Wave Power Station to be Installed in 2013

PERTH, AUSTRALIA--February 14, 2013--Researched by Industrial Info Resources Australia (Perth, Australia)--Ocean Power Technologies Australasia Private Limited (Perth, Australia), a subsidiary of Ocean Power Technologies Incorporated (NASDAQ:OPTT) (OPT) (Pennington, New Jersey), which is Australia's leading wave energy pioneer, is currently in the permitting stage for a 19-megawatt (MW) wave energy power station, near Portland, off the coast of Victoria, Australia. The project will be built in three stages, and the estimated total cost is $230 million