Ocean Power Technologies' sub inks development agreement with Griffin Energy for power station
Ocean Power Technologies (Australasia) Pty Ltd., a subsidiary of renewable energy company Ocean Power Technologies, Inc. (Nasdaq:OPTT), said early Monday morning that it is teaming up with Griffin Wave Power Ltd, a subsidiary of Griffin Energy Pty Ltd., to develop a wave power station off the coast of Western Australia. The 10 megawatt power station could have the potential capacity of 100 MW, according to Ocean Power.
Shares gained 7%, or $0.71, to $10.65 in pre-market trading. For detailed price information and recent news stories about Ocean Power Technologies, click OPTT.
