Offshore wave energy converter platforms with utility-scale and maritime surveillance applications.
Ocean Power Technologies develops the PowerBuoy, a floating offshore wave energy converter platform. The system captures wave motion to generate electricity for utility-scale power and maritime surveillance applications. The company is publicly traded on NASDAQ under the ticker OPTT and holds approximately 13 percent market share in the wave and tidal energy sector.
PowerBuoy platforms can be deployed individually or in arrays for coastal and offshore installations. While the company has pivoted toward defense and maritime surveillance uses, it maintains utility-scale wave energy capability and competes directly with other offshore point-absorber and platform technologies.
| Attribute | PowerBuoy | CorPack, Wave Energy Converter | |
|---|---|---|---|
| Provider | |  | |
| Founded | 1984 | 2012 | |
| Sells To | Enterprise, Government | Enterprise | |
| Pricing Model | Recurring | Services | |
| Ownership | Public | Private |
Provider
Founded 1984
Sells To Enterprise, Government
Pricing Model Recurring
Ownership Public
Provider
Founded 2012
Sells To Enterprise
Pricing Model Services
Ownership Private
Onshore and breakwater-mounted wave energy floaters for grid-connected power generation.
Nearshore seabed-mounted oscillating surge wave energy converter for utility-scale power.
Fully submerged wave energy converter achieving high uptime offshore utility-scale deployments.
Fully submerged point-absorber wave energy converter that generates electricity and desalinated water.
Opportunity assessment, project development, and project delivery for wave energy installations.
Onshore and breakwater-mounted wave energy floaters for grid-connected power generation.
Nearshore seabed-mounted oscillating surge wave energy converter for utility-scale power.
Fully submerged wave energy converter achieving high uptime offshore utility-scale deployments.
Fully submerged point-absorber wave energy converter that generates electricity and desalinated water.
Opportunity assessment, project development, and project delivery for wave energy installations.