1. OPT: Ocean Power Technologies

2. Ocean Power Technologies' PowerBuoy® is designed to convert ocean wave energy into useable electrical power for utility-scale grid connected applications. The PowerBuoy® can be deployed in arrays scalable to 100’s of megawatts.

3. Where did OPT come from? OPT: Ocean Power Technologies was co- founded, in 1994, by Dr. George W. Taylor and the late Dr. Joseph R. Burns with a vision of harnessing the endless supply of our earth’s most powerful resource: the ocean. OPT Incorporation is located in Delaware USA. As of 2007 OPT has 40 employees worldwide.

4. Supporting OPT OPT has developed a global network of strategic partners for development, fabrication, testing, and deployment. An important OPT supporter and partner is the US Navy. US Navy is used as a technology provider plus a global customer.

5. Spain is also a strong partner of OPT. Spain offers three JOINT VENTURES. These include: Iberdrola S.A., Instituto para la Diversificacion y el Ahorro de la Energia (IDAE), Sociedad para el Desarrollo Regional de Cantabria (Sodercan). A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise.

6. An additional JOINT VENTURE is between OPT, Spain and France at, Total S.A. Penta-Ocean Construction is a technology provider by Japan.

7. TECHNOLOGY

8. How It Works OPT's PowerBuoy® wave generation system uses a "smart," ocean-going buoy to capture and convert wave energy into low- cost, clean electricity. OPT's "smart" PowerBuoy® utilizes computer-based, proprietary technologies. Technological innovations include: patented electronics systems for control and power conversion; patented wave energy conversion and transfer systems; unique generating systems that function effectively at low and variable speeds; and a modular construction process. The PowerBuoy® is an offshore wave energy converter, most of which is submerged below the water's surface. Inside, a piston- like structure moves as the PowerBuoy® bobs with the rise and fall of the waves. This movement drives a generator, producing electricity, which is sent to the shore by an underwater cable. An OPT "power plant" will consist of an array of identical PowerBuoys® that are electrically connected to provide the desired power capacity.

9. Sensors on the PowerBuoy® continuously monitor the performance of the various subsystems and surrounding ocean environment. Data is transmitted to shore in real time. Marine Corps Base, Oahu, Hawaii Objective: Demonstrate Wave Power for use at US Navy bases, worldwide Wave Park Size: Up to 1 MW Water Depth: 30 meters

10. A 10-Megawatt OPT power station would occupy only approximately 30 acres (0.125 square kilometers) of ocean space. Buoys are spaced to maximize energy capture. Rugged, simple steel construction. Utilizes conventional mooring systems. Simple installation using existing marine vessels and infrastructure. Scalable to large power stations (100+ MW)

11. Inside PowerBuoy Final Assembly of PowerBuoy

12. The buoy is designed to be deployed in approximately 100-150 feet (30-50 meters) of water. Anchored on the sea bottom using a proprietary anchoring system that avoids any damage or threat to the sea bed or sea life.

13. Mooring Deployment Tow Out

15. As dictated by local marine regulations, an OPT power plant will have a few PowerBuoys® with masts that rise above the surface of the water, with navigational aids attached, such as a radar reflector, day mark, and warning light to help aid mariners in the vicinity. Very low visual impact on the environment.

16. Global Resources Wave power is the most predictable and dependable form of renewable energy. Good wave power sites are available around the world, especially close to population centers. As the map shows there are many high wave power sites located close to high population densities. The next figure represents kilowatts per meter of wave front. The PowerBuoy systems are optimized to work in sites with 20 kW/m or greater.

17. 2TW of energy, the equivalent of twice the world’s electricity production, could be harvested from the world’s oceans (World Energy Council)

18. Atlantic City, New Jersey Customer: New Jersey Board of Public Utilities Location: Atlantic City, New Jersey Status: Operational October 2005 Objective: Demonstrate viability of Wave Power in New Jersey Wave Park Size: 40 kW- rated (one PowerBuoy®)

19. How much does it Cost? Cost of Energy –Scale Drives Economics –PB-150™: Cost competitive in remote power market at 7-10¢/kWh –PB-500™: Cost competitive in primary markets at 3-4¢/kWh

20. Rated Capacity: 10 MW Footprint: 16 acres Water Depth: 30 to 50 meters 40 units -PB-250™ (250kW) Powers 4,000 homes* * Assumes world average of 1kw per home

21. Major Milestones 2005 Installed a 40 kW-rated PowerBuoy® (PB-40) off Tuckerton, New Jersey as part of the New Jersey Board of Public Utilities Renewable Energy and Economic Development (“REED”) program. System withstood wave and wind forces of Hurricane Wilma. Signed agreement with Total S.A. of France to develop a wave power station on the west coast of France. Total is one of the largest oil and gas companies in the world with operations in more than 130 countries.

22. Major Milestones 2006 Awarded initial contract from US Department of Homeland Security. Selected to occupy a position at the South West Wave Hub project off the north coast of Cornwall, England, for installation of a 5MW OPT wave power station. Filed application for permit from US Federal Energy Regulatory Commission (FERC) for 50MW wave power station located at Reedsport, Oregon. 2007 Awarded world’s first wave power Operation and Maintenance contract for the first phase of the 1.39MW OPT wave power station to be constructed off the north coast of Spain. Awarded $1.7 million contract from US Navy to provide PowerBuoy® technology to a unique Navy program for ocean data gathering, the Deep Water Acoustic Detection System.

23. OPT