Ocean Energy of NJ New Jy (NJ) Δ 3rd of January 2014 Ω 6:00 AM

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«Ocean Energy Sensing of The United States	Θ	Θ
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~ Ocean Power Technologies, Inc

»Ocean Power Technologies, Inc
ξ starting in 1994 focused on its proprietary PowerBuoy™ technology,
ξ capturing wave energy using large floating buoys anchored to the sea bed and
ξ converting the energy into electricity using innovative power take-off systems

Tested at Sea
ξ commencing in 1997, trials have been conducted off the coast of New Jersey
ξ to demonstrate the concept of using a floating buoy to capture wave energy and convert it into electricity
ξ technology is on a growth curve towards full-scale commercial application
ξ recent examples of which are the 40 kW-rated PowerBuoys installed in Hawaii and New Jersey

Funded for Success
ξ floated on the London Stock Exchange’s AIM market in October 2003 following a successful IPO
ξ traded on the AIM market under the symbol “OPT”
ξ completed its US IPO and listing on Nasdaq in April 2007, and is traded on Nasdaq under the symbol “OPTT”

Ready for Market
ξ has begun the initial phase of installation of a 1.39 MW wave farm off the northern coast of Spain
ξ the project is a joint venture with the Spanish utility Iberdrola SA
ξ a full size demonstration plant of up to 5MW capacity is planned for installation in UK waters
ξ the rising and falling of the waves off shore causes the buoy to move freely up and down
ξ the resultant mechanical stroking is converted via a sophisticated power take-off to drive an electrical generator
ξ the generated power is transmitted ashore via an underwater power cable
ξ a 10-Megawatt OPT power station would occupy only approximately 30 acres (0.125 square kilometers) of ocean space
ξ sensors on the PowerBuoy® continuously monitor the performance of the various subsystems and surrounding ocean environment
ξ data is transmitted to shore in real time
ξ in the event of very large oncoming waves, the system automatically locks-up and ceases power production
ξ when the wave heights return to normal, the system unlocks and recommences energy conversion and transmission of the electrical power ashore

ξ Buoys are spaced to maximize energy capture.
ξ Rugged, simple steel construction.
ξ Utilizes conventional mooring systems.
ξ Simple installation using existing marine vessels and infrastructure.
ξ Scalable to large power stations (100+ MW)

Technology Comparison

Feature	OPT PowerBuoy®	Fossil Fuel	Onshore Wind	Offshore Wind	Solar	Notes
Energy Density	High. ca. 1000 x denser than wind	Very High	Low	Moderate	Low
Predictability	High.Accurate forecasts days in advance	Dispatchable	Low except in some sites	Moderate	Unpredictable except in some sites
Load Factor	30% - 45%	50% - 90%	25% - 35%	25% - 35%	10% - 20%
Visual Impact	Minimal. PowerBuoys, in general, not visible from shore	Very High	Moderate	Low	Unobtrusive
Potential Sites	Extensive on Coastline	Extensive but permitting process can be lengthy	Limited	Limited in US, Moderate in Europe	Limited for High Energy Density, Extensive for low to Moderate Density
Cost* Per Kilowatt Hour – Remote Power	7 - 10¢	N/A	9 - 10¢	16¢	25 - 50¢
Cost* Per Kilowatt Hour – Utility Power	5¢**	4¢	4 -5¢	7 - 9¢	10 - 25¢

* These costs assume high production volume. Subsidies, credits, grants will further reduce costs.
** Based on projected cost of 500 kW PowerBuoy, in commercial production volume.

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