Optima Health Regulatory News (OPT)

27 Jan 2006 08:00

Ocean Power Technologies Inc27 January 2006 Ocean Power Technologies, Inc. 1590 Reed Road Pennington, New Jersey 08534 USA For Immediate Release OCEAN POWER TECHNOLOGIES ANNOUNCES NEW HEAD OF ENGINEERING Pennington, NJ, USA, 27 January 2006 - Ocean Power Technologies, Inc ("OPT", orthe "Company") (London Stock Exchange:AIM-OPT), a leading renewable energytechnology company that is commercialising its off-shore wave-powered electricalgeneration systems, announces the appointment of John A. Baylouny to theposition of Senior Vice President, Engineering. Reporting to Dr. George W.Taylor, OPT's Chief Executive Officer, Mr. Baylouny will be responsible for allOPT engineering efforts. This will include the commercial "roll-out" of OPT'sPowerBuoyTM product, as well as development engineering of the technology. Prior to joining OPT, Mr. Baylouny's career included extensive experience inengineering and management positions at large, publicly-held companiesspecializing in technology-based products. Most recently, at DRS Technologies,Inc. (NYSE:DRS), Mr. Baylouny was Vice President and General Manager of abusiness unit responsible for data and imaging systems. Previously he had beenhead of engineering for all products and technical strategic planning foranother DRS operating division. In these capacities, his responsibilitiesincluded new product development, transition to production and customer support,as well as expansion of existing technology-based product businesses. Mr.Baylouny worked at a business unit of ITT Corporation (NYSE:ITT) prior to DRS,in various design engineering positions involving integrated technology systemsand performance simulations. On the appointment, Dr. Taylor stated, "We are very pleased to have JohnBaylouny join OPT. He brings an important depth and scope of engineeringexperience and leadership skills to the Company, as we progress in thecommercialisation of our core PowerBuoy technology. John has a proven trackrecord of success in engineering management of a high technology company andsensitivity to the needs of an international customer base. This background isimportant to the company's growth, and we welcome him to the senior managementteam." Mr. Baylouny holds a Master's degree in Electrical Engineering from StevensInstitute of Technology, and a Bachelor of Science Degree in ElectricalEngineering from Fairleigh Dickinson University. For further information, please contact: Dr. George W. Taylor, Chief Executive Charles F. Dunleavy, Chief FinancialOfficer OfficerTelephone: (609) 730-0400 Telephone: (609) 730-0400E-mail: gtaylor@oceanpowertech.com E-mail: cdunleavy@oceanpowertech.com Michael Brennan, Evolution Securities Ken Cronin, Gavin Anderson & CompanyLtd. Telephone: +44 20 7554 1400 Telephone: +44 20 7071 4300 Background Information Ocean Power Technologies, Inc. OPT is the world's first publicly listed wave power company. It iscommercialising its proprietary technology for the generation of electricalpower using the energy of ocean waves. OPT's wave energy systems are based onmodular, buoy-like structures, called PowerBuoysTM, which are "intelligent"systems capable of responding to differing wave conditions. The Company'socean-tested systems have the potential to provide cost competitive, cleanelectrical power on a large scale without the enhancements of tax credits orsubsidies. For further information, see the Company's website:www.oceanpowertechnologies.com. This information is provided by RNS The company news service from the London Stock Exchange