Optima Health Regulatory News (OPT)

2 Jul 2007 07:01

Ocean Power Technologies Inc02 July 2007 NEWS RELEASE------------------------------------------------------ Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release July 2, 2007 OPT's Powerbuoy grid connection compliant with international standards Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT)("OPT" or the "Company") announced that its PowerBuoy(R) interface with theelectrical utility power grid has been certified as compliant with internationalstandards. An independent laboratory, Intertek Testing Services, providedtesting and evaluation services to certify that the OPT systems comply withdesignated national and international standards. As a requirement for utility connections, generation resources such as OPT'sPowerBuoy, must conform to international safety standards, including UL1741 andIEEE1547. As proof of OPT's compliance, the PowerBuoy grid interface will bearthe ETL Listed Mark and can be connected to the utility grid. Dr. George W. Taylor, Chief Executive Officer of OPT, said: "This industrycertification is an important milestone in the commercialization of ourPowerBuoy technology. It serves to further qualify our technology forintegration into utility grid systems." Reflecting the Company's continuing technology and engineering developmentefforts, OPT has been issued four patents and has filed applications for six newpatents, over the past six months. These patent applications are in the areas ofthe electronic control system, power take-off, mooring design and improvedhydrodynamic characteristics. About Ocean Power Technologies Ocean Power Technologies, Inc. develops and is commercializing proprietarysystems that generate electricity by harnessing the renewable energy of oceanwaves. The Company's PowerBuoy(R) system is based on modular, ocean-going buoys,which have been ocean tested for nearly a decade. The waves move the buoy-likestructure creating mechanical energy that the Company's proprietary technologiesconvert into electricity. For Further information, please contact: Ocean Power Technologies, Inc Telephone: +1 609 730 0400Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Corfin Communications Telephone: +44 20 7929 8989Ben Hunt, Neil Thapar Collins Stewart Telephone: +44 20 7523 8353Adrian Hadden This information is provided by RNS The company news service from the London Stock Exchange