PENNINGTON, N.J., Sept. 5, 2013 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq:OPTT) ("OPT" or "the Company") today announced that the Company has been awarded a U.S. Department of Energy ("DOE") Small Business Innovation Research ("SBIR") Phase I grant of approximately $150,000 to study advanced control methods for maximizing the wave energy harvesting capability of its PowerBuoy ® products. Less than 12% of the DOE's SBIR and related Small Business Technology Transfer funding applications were granted in this latest funding round.
Ocean Power Technologies Awarded U.S. Department Of Energy Grant To Increase PowerBuoy Performance
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