Ocean Power Technologies Demonstrates Sonar Surveillance in DHS Autonomous PowerBuoy Application

Ocean Power Technologies Demonstrates Sonar Surveillance in DHS Autonomous
PowerBuoy Application

PENNINGTON, N.J., Oct. 1, 2013 (GLOBE NEWSWIRE) -- Ocean Power Technologies,
Inc. (Nasdaq:OPTT) ("OPT" or "the Company") today announced the successful
in-ocean operation of an acoustic sonar system integrated with its APB-350
Autonomous PowerBuoy^®, marking an important expansion of the system's
maritime surveillance capabilities.

In addition to the sonar's ability to detect sub-surface vessels, the
three-week demonstration off the coast of New Jersey under a previously
announced U.S. Department of Homeland Security ("DHS") program included an
integrated sensor suite comprising the sonar, an over-the-horizon high
frequency (HF) radar system for surface surveillance and an Automated
Identification System (AIS) receiver. The APB-350 provided power for these
sophisticated vessel detection and tracking sensors, enabling persistent
off-shore maritime security in near-shore, harbors and littoral zones.

"We were very pleased with the sonar system's performance, as integrated with
other on-board sensors," said Charles F. Dunleavy, Chief Executive Officer of
OPT. "We also saw the great results of improvements made to the APB-350
following previous in-ocean operations and have identified further areas to
optimize mission longevity and further enhance performance, as well as the
power-to-weight ratio of the device. We appreciate the support of DHS and
TEDCO, as well as earlier funding by the US Navy, to demonstrate the
Autonomous PowerBuoy's ability to contribute to national security and serve as
a power platform for other important applications."

The demonstration was partially funded by a grant from the Maryland Technology
Development Corporation ("TEDCO") via a joint technology transfer initiative
to show how the Autonomous PowerBuoy can be used with multiple surveillance
technologies. The grant was in tandem with a Cooperative Research and
Development Agreement ("CRADA") with DHS's Science & Technology Directorate.

The acoustic sensor was tested by a support vessel running in regular and
irregular modes, in both short radius and wide patterns. In addition, at least
two land-based stations received HF radar signals from the APB-350. The
PowerBuoy simultaneously provided power to the HF radar transmitter, the
acoustic sensor and related electronics, the AIS receiver and the
communications package, and also maintained power to all the buoy electronics
("hotel load"). After addressing these power loads, the excess power produced
was stored in the APB-350 on-board energy storage system.

Overall power generated by the APB-350 confirmed results of previous in-ocean
operations. Consistent with such prior power data, the average continuous
power of this latest deployment exceeded the 350 watt rating and overall
mission requirement for persistent power generation, with peak electrical
power having exceeded 1,500 watts.

Other important achievements were noted during operation of the Autonomous
PowerBuoy, including satellite communications improvements which included a
power consumption reduction by 92%, with a twofold increase in data throughput
performance. Also, power production commenced immediately after deployment in
very low wave heights (less than two feet), resulting from significant
reductions in the hotel load of the APB-350.

The APB-350 structure incorporates a unique power take-off and on-board energy
storage system and is significantly smaller and more compact than the
Company's standard utility PowerBuoy. It provides persistent, off-grid clean
energy in remote ocean locations for a wide variety of maritime security and
monitoring applications and has also been designed to generate power for
off-grid applications such as offshore oil & gas operations, data gathering
for the development of off-shore wind projects and fish-farming.

Currently, systems requiring remote energy sources at sea are often powered by
diesel generators, which can be damaging to the environment and need frequent
and costly maintenance and fuel replenishment. The APB-350 was developed by
OPT to provide constant power in all wave conditions, while maintaining a
fixed ocean site position. The Company's proprietary power management
technology and on-board energy storage capability are key innovations of the
system enabling operation even during periods of calm sea conditions.

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 more than 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

Forward-Looking Statements

This release may contain "forward-looking statements" that are within the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect the Company's current expectations
about its future plans and performance, including statements concerning the
impact of marketing strategies, new product introductions and innovation,
deliveries of product, sales, earnings and margins. These forward-looking
statements rely on a number of assumptions and estimates which could be
inaccurate and which are subject to risks and uncertainties. Actual results
could vary materially from those anticipated or expressed in any
forward-looking statement made by the Company. Please refer to the Company's
most recent Form 10-K and subsequent filings with the Securities and Exchange
Commission for a further discussion of these risks and uncertainties. The
Company disclaims any obligation or intent to update the forward-looking
statements in order to reflect events or circumstances after the date of this

CONTACT: Company Contact:
         Charles F. Dunleavy, Chief Executive Officer
         Telephone: +1 609 730 0400

         Sales Inquiries:

         UK - Paul Watson
         Telephone: +44 (0)1926 623370
         US - Deborah Montagna
         Telephone: +1 609 730 0400
         Australia - Gilbert George
         Telephone: +61 (0)412 992130

company logo
Press spacebar to pause and continue. Press esc to stop.