Ocean Power Technologies to Announce Fiscal 2013 Third Quarter Results and Host Conference Call on March 14, 2013

Ocean Power Technologies to Announce Fiscal 2013 Third Quarter Results and
Host Conference Call on March 14, 2013

PENNINGTON, N.J., March 4, 2013 (GLOBE NEWSWIRE) -- Ocean Power Technologies,
Inc. (Nasdaq:OPTT) ("OPT" or the "Company"), a leading wave energy technology
company, today announced that it will release its fiscal third quarter and
nine month financial results before the market opens on Thursday, March 14,
2013. A conference call to review these results will be held at 10:00 a.m.
Eastern Time that day.

The call will be available by telephone at 800.561.2693 (toll free in the
U.S.) or 617.614.3523 (for international callers), using passcode 95501750.
Investors may also access a webcast by visiting the Company's website at
www.oceanpowertechnologies.com and clicking on the Investor Relations tab,
then Webcasts & Presentations. Recorded replays of the conference call will be
available on the Company's website and by telephone at 888.286.8010 (toll free
in the U.S.) or 617.801.6888 (for international callers), replay passcode
42256362, beginning at 1:00 p.m. Eastern on March 14, 2013.

About Ocean Power Technologies

Ocean Power Technologies, Inc. (Nasdaq:OPTT) is a pioneer in wave-energy
technology that harnesses ocean wave resources to generate reliable and clean
and environmentally-beneficial electricity. OPT has a strong track record in
the advancement of wave energy and participates in an estimated $150 billion
annual power generation equipment market. OPT's proprietary PowerBuoy® system
is based on modular, ocean-going buoys that capture and convert predictable
wave energy into clean electricity. The Company is widely recognized as a
leading developer of on-grid and autonomous wave-energy generation systems,
benefiting from 15 years of in-ocean experience. OPT is headquartered in
Pennington, New Jersey, USA with an office in Warwick, UK and operations in
Melbourne and Perth, Australia. More information can be found at
www.oceanpowertechnologies.com.

CONTACT: Ocean Power Technologies, Inc.
         Brian M. Posner
         Chief Financial Officer
         Telephone: +1 609 730 0400

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