Optima Health Regulatory News (OPT)

8 Nov 2007 07:02

Ocean Power Technologies Inc08 November 2007 NEWS RELEASE-------------------------------------------------------------------------------- Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release November 8, 2007 OCEAN POWER TECHNOLOGIES ANNOUNCES NEW DIRECTOR Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT)("OPT" or the "Company") is pleased to announce that Paul Franklyn Lozier hasbeen appointed as a non-executive member of the Company's Board of Directors.Mr. Lozier, who is 60, is a private investor, and provides corporate financecounsel to a variety of medium sized corporations. Mr. Lozier is a Director of Somerset Hills Bancorp (NASDAQ: SOMH) and currentlyserves on its audit committee. He was also a Director of Logical DesignSolutions, Inc. and served on its audit committee. Previously, Mr. Lozier was aManaging Director and senior investment banker specializing in energy financewith Merrill Lynch & Co. (NYSE: MER). Mr. Lozier received his Master of BusinessAdministration in Finance from Harvard Business School. There are no further details specified by Schedule 2(g) of the AIM Rules to bedisclosed by Mr. Lozier. 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 7977 0020Ben Hunt, Neil Thapar Collins Stewart Europe Limited Telephone: +44 20 7523 8353Adrian Hadden This information is provided by RNS The company news service from the London Stock Exchange