This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ocean Power Technologies Announces New Head Of Autonomous Power Business Unit

PENNINGTON, N.J., Jan. 21, 2014 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq:OPTT) ("OPT" or "the Company"), today announced that David R. Heinz has been appointed to the position of Vice President, Autonomous Power. Mr. Heinz previously held the position of Vice President and General Manager of the Maritime Systems division of iRobot Corp., a leader in delivering robotic, technology-based systems.

Reporting to Charles F. Dunleavy, OPT's Chief Executive Officer, Mr. Heinz will lead the Company's efforts in developing the Autonomous PowerBuoy business. The Autonomous Power business unit is targeting and developing opportunities in this large potential market for OPT's non-grid-connected PowerBuoys ®. This market includes off-grid applications such as maritime surveillance for defense and border security, offshore oil and gas operations and oceanographic/meteorological data gathering.

Charles F. Dunleavy, Chief Executive Officer of OPT, commented, "We are very pleased to have David join OPT as Vice President, Autonomous Power. He comes at a time when the markets which our Autonomous PowerBuoy can serve are attaining a strong appreciation and understanding of the game-changing capabilities of our APB-350 product. David's background maps well into this opportunity, with experience selling into both the maritime surveillance and oil and gas market sectors. We welcome him to the senior management team."

Before joining OPT, Mr. Heinz led a group of engineering, sales and manufacturing teams at iRobot, specializing in underwater autonomous vehicles, resulting in the development of new products and markets and significantly increasing sales. This included development and implementation of business strategies for new sensors and products for oil and gas exploration. 

Previously Mr. Heinz had an outstanding career in the US Marine Corps (USMC), attaining the rank of Major General prior to retirement. His military career included running large acquisition programs, oversight of worldwide military operations, and tours with aviation squadrons in combat situations. David is a distinguished graduate of the US Naval Test Pilot School and was selected by the USMC as a NASA Astronaut candidate. His military decorations include the Defense Superior Service Medal, Legion of Merit, Meritorious Service Medal and Air Medal.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs