Turning to Slide 4. I'm happy to say that our LEAP autonomous PowerBuoy performed well during its ocean demonstration, providing persistent power in all wave conditions, withstanding the 50-foot high waves of Hurricane Irene. The LEAP PowerBuoy which was taken out of water several weeks ago at the completion of its ocean trials, as provided under our contract with the U.S. Navy. We're very encouraged by the potential market for our autonomous PowerBuoy product.As a reminder, the autonomous PowerBuoy operates totally independently and can generate power in all wave conditions using OPT's proprietary power management system. This includes persistent power generation in the ranges needed for sophisticated vessel detection and tracking systems for maritime surveillance along coasts. Systems currently being used for remote power is the often utilized diesel generators, which require frequent maintenance and fuel replenishment and can be very noisy.
Ocean Power Technologies, Inc's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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