1. Company Presentation

2. Investment Highlights
 Leading developer of turnkey ocean wave power production systems focused
on:
 $50 billion renewable segment of the $150 billion utility market
 $10 billion autonomous (non-grid) power delivery market
 Developing utility PowerBuoy projects in North America, Europe, Japan and
Australia, and marketing autonomous PowerBuoy for multiple applications
 Strong partnerships in place: U.S. Navy, U.S. DOE, Lockheed Martin, PNGC
Power, Mitsui (Japan), Iberdrola (Spain)
 Extensive in-ocean product performance, including successfully withstanding
hurricanes and winter storms
 Solid balance sheet – foundation for growth
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3. Company Overview
Commenced Operations: 1994
Incorporation: Delaware, USA
Operating Locations: Pennington, NJ, USA and Warwick, UK
Total Employees: 50
Intellectual Property: 61 US patents issued or pending
Cash and Investments: $43.1 million (as of July 31, 2011)
Public Listing: Nasdaq (OPTT)
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4. Recent Commercial Achievements
• FY 2011 revenues up by 31% to $6.7 million
• Completed grid connection of Hawaii PowerBuoy – first for wave
energy devices in US
• Completed construction and deployed PB150 PowerBuoy for
Scotland and progress made on construction of Oregon PB150
• Received Lloyd’s Register Certification of PB150 PowerBuoy
design
• Signed ground-breaking agreement with 14 different stakeholders in
our utility-scale Oregon project
• Expanded relationship with Mitsui Engineering & Shipbuilding
• Received $10.3 million in new orders
• Commenced development of PB500, with customer funding
• Successful deployment of LEAP PowerBuoy
• Launched new technology initiative under WavePort project in
Spain
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5. PowerBuoy and Undersea Substation
Float
Cables from
Spar other
PowerBuoys
(“Smart Part” Inside)
Undersea
Substation
Heave Plate
Cable to
Sea Floor Shore
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6. Wave Power Station
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7. Autonomous PowerBuoys
Technology Readiness
 First autonomous PowerBuoy tested in 2004 off State of Washington under Lockheed contract
 PB40-rated system operated off New Jersey during 2005-2007
Withstood Hurricane Wilma
 DWADS PowerBuoy prototype tested in 2010 demonstrating stationkeeping for US Navy
Power generation in autonomous mode to maintain station and provide power intended for a
sonar-based maritime security system
 LEAP PowerBuoy “mission proven” in 2011 in successful integration with US Navy’s radar-based,
operational maritime security system
Persistent power in all wave conditions, using proprietary power management system
Withstood Hurricane Irene
Key Customers and Partners to Date
 US Navy
 Lockheed Martin
Targets/Near-Term Goals
 Report data following LEAP ocean performance
 Actively marketing to customers for maritime security applications and offshore oil and gas sector
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8. LEAP PowerBuoy off New Jersey Coast
LEAP PowerBuoy After Hurricane Irene
Photo provided by Michael Woods
LEAP PowerBuoy
Deployed by US Coast Guard
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9. Utility PowerBuoys
Technology Readiness
 Hawaii PB40 installed at Marine Corps Base 2009 – 2011 under US Navy contract
Grid-connected in 2010
 Scotland PB150 underwent successful ocean trials in 2011
Power output and overall system performance exceeded expectations
 PB150 to be in operation off Reedsport, Oregon by mid-2012
 Grid connection certified by Intertek for compliance with UL and IEEE standards
 PB150 structure and mooring design certified by Lloyd’s Register
 Independent Environmental Assessment in Hawaii under direction of US Navy resulted in
“Finding of No Significant Impact” – highest rating
Key Customers and Partners to Date
 US Navy  US Department of Energy  Leighton
 Mitsui Engineering & Shipbuilding  PNGC Power  Iberdrola
 Lockheed Martin
Targets/Near-Term Goals
 Complete PB150 for Oregon; commence in-ocean operation in mid-2012
 Actively marketing in Japan, Australia, North America, Europe
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10. Scotland Outperformed
PB150 – Scotland
 Attained Lloyd’s Register certification of PB150 design
 Ocean trials commenced April 2011, completed October 2011
 Achieved average electrical power of 45 kilowatts at wave heights as
low as 2 meters, exceeding expectations
 Power take-off system performed well
 Capacity factor higher than generally seen in other renewables, such
as wind and solar
 Seeking commercial partner or customer for next phase
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11. PB150 Scotland Deployment
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12. PB150 Scotland Post Deployment
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13. Wave Port Project. Spain
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15. Ongoing Utility Marketing Initiatives
Europe
North America 30-140 MW
Japan
30-150 MW
1-5 MW
Australasia
15-20 MW
 Target sales price in production volumes is $4 million/MW (higher initially)
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16. Spain
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17. Competitive Advantages
• PowerBuoy is based on ocean-going buoys, primarily below sea surface
• Electronic “tuning” capability optimizes power in dynamic wave conditions
• PowerBuoy sends grid-ready electrical power to shore, not pumped water
• Same PowerBuoy technology provides power for autonomous deep-sea
applications and for grid-connected utility markets
• Power take-off is direct drive, not hydraulics-based
• Demonstrated robustness in hurricanes, winter storms, tsunamis
• Strong partners: Mitsui (Japan), Lockheed (US), US Navy, PNGC Power (US),
Iberdrola (Spain)
• Third party commercial validation: environmental assessments, grid connection,
PB150
• PowerBuoy produces power efficiently regardless of direction of incoming waves
• PowerBuoy open architecture can use different PTO’s; undersea substation pod
serves all energy devices
• Strong capital base, cash balances
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18. Third Party Commercial Validation
OPT’s technology has received more testing & validation by
independent parties than any other wave energy company
• Certification by Lloyd’s Register of PB150 structure and mooring system
• Independent Environmental Assessments in Hawaii under direction of US Navy, and by
US DoE for Reedsport, Oregon, project; both resulted in “Finding of No Significant
Impact” – highest rating
• Grid connection certified by Intertek (IEEE and UL standards)
• PowerBuoys insured by Lloyd’s syndicates for over 13 years for property loss and third
party liability
• US DoE has assessed PowerBuoy PB150 as highest-rated wave energy system for
commercial readiness (TRL 7-8)
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19. Standard PowerBuoy Manufacturing Process
 Buoy fabricated near coastal site
 Power take-off and control system
(“smart-part”) built in New Jersey
PowerBuoy at Fabrication Site
 Integration and test of completed
PowerBuoys at dockside near coastal
site
Power Take-Off & Control System
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20. PowerBuoy Deployment Process
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21. For More Information
Contact Us
For more information on Ocean Power Technologies and our PowerBuoy® systems, please
contact us at:
Ocean Power Technologies Ltd
Warwick Innovation Centre
Gallows Hill
Warwick CV34 6UW
UK
Phone: +44 (0)1926 623370
Fax: +44 (0) 1926 408190
E-mail: info@oceanpowertech.com
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