This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Ocean Power Technologies Completes Successful Trials of Underwater Substation Pod 2009-11-02 02:00 ET - News Release
PENNINGTON, N.J. -- (Business Wire)
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange
AIM: OPT) ("OPT" or the "Company") announces the successful completion
of trials of its Underwater Substation Pod (“USP”) product in Spain. The
USP, based on the Company’s proprietary design, has been developed to
facilitate the collection, networking and transforming of power and data
generated by up to ten of its PowerBuoys for transmission to a
shore-based electricity grid by one subsea power cable. It has been
built as an open platform, and can therefore provide “plug and play”
connectivity for any offshore energy device linked to it.
Underwater trials of the USP included pressure testing, running electric
power to and from the system, and verification of data communication
capabilities.
The completion of this significant milestone by OPT is part of an
Engineering, Procurement and Construction contract with Iberdrola
Marinas de Cantabria, a special purpose company whose shareholders
include:-
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