|Ocean Power Technologies Inc
||COM SHS USD0.001 (DI)
||EPS - Basic
||Market Cap (m)
Real-Time news about Ocean Pwr Di (London Stock Exchange): 0 recent articles
|investrology: The share price drop was a "Kodak moment" lol|
|barbudo viejo: indeed. Americans will have a better appreciation of Lockheed's muscle and what their involvement brings to the party. As ever, though, progress depends on investors believing they won't be able to get in at a lower price later. It could be months or even years before Lockheed's involvement really starts paying off on the bottom line, during which time we could see great volatility, so we are dependent on a speculative re-rating to put a floor under the share price (and, of course, business that OPT bring in in the meantime). Nonetheless, it is undeniable that this is a huge development that should give doubters reassurance regarding the future, and validation for believers. And in the short-term, perhaps some momentum from traders hoping to ride the OPT wave will carry us higher. Onwards and upwards, with luck.|
|rolo7: US optt share price down 20% tonight over concerns of what US department can issue see wave project licences, big fall tommorow I feel.|
|asparks: Shares Mag Play of the Week: RVA Renova "is on the cusp of an expansion that should spark a share=price hike way beyond its current 180p level.........Dividends are also shooting up....likely to baloon to 15p within 3 yrs......share price 250p in a year 500p + in a couple of years"|
|stegrego: Ocean Power Technologies "Turning Wave Power Into A Commercial Reality"
By Rue Swabey
Harnessing the power of the ocean and converting it into electricity provides a predictable source of energy with a minimal impact on the environment. Advocates of wave power point out that its capacity factor is greater than wind and solar power - at least in the UK where the sun rarely shines. Down time for ocean power is limited to stormy weather or flat seas. Commercial wave farms are unlikely to offend the public as they are smaller than wind farms and less visible given their offshore location. Marine life won't be bothered either - in fact fish are attracted to the anchor blocks which they view as reefs.
Despite the huge potential of ocean power it is still in the early stages of development compared with other renewables. But with high oil prices and increasing demand for clean energy, interest is growing. Britain's Carbon Trust forecasts that between 15 per cent and 20 per cent of current UK electricity demand could be met by wave and tidal stream energy and that by 2020, 3 per cent of total UK electricity demand could be met by marine renewables. As the technology is young and economies of scale are virtually non-existent wave power costs considerably more than other renewables or conventional sources of energy. However, the Carbon Trust report concludes that marine renewable energy has the potential to become competitive with other market generation forms in the future.
AIM-listed, US-based Ocean Power Technologies is taking the lead in developing competitive wave power. The company, which was founded in 1994, has developed a technology known as the PowerBuoy that harnesses wave power and transmits the energy back to shore through underwater cables. The rising and falling of the waves causes the buoy to move freely up and down. The resultant mechanical stroking is converted via a sophisticated power take-off to drive an electrical generator. The generated power is transmitted ashore via an underwater power cable. Ocean Power commenced ocean trials in 1997 and since then it has been contracted to undertake several trials.
In 2004 the company tested its technology off Hawaii for the US Navy and it is now working on three commercial projects. It is developing a wave power station with 1.25MW of capacity off Spain's northern coast for Spanish utility, Iberdrola. The project should be operational in 2007. It is installing 5MW of capacity (comprising a total of 30 PowerBuoys) off the north coast of Cornwall, England as part of the south-west wave hub project. The project, which is backed by the local development agency, will provide a direct connection to the national grid from ten miles out to sea. Ocean Power and Total have signed an agreement to develop a wave power station in France and a suitable location is being sought. Europe is an important market for ocean power given the favorable regulatory environment and the number of countries with long western coastlines and strong winds such as Norway, Scotland, Ireland, sout-west England, France, Spain and Portugal.
The revenues from these projects are small and costs are high. Paul Jordan, the company's business development manager, stresses the potential for costs to come down once economies of scale are reached. The PowerBuoy is expensive to build but the technology has been proven effective in sea trials and the energy costs nothing to produce. The buoys are built from steel and should last for decades with regular maintenance. When the industry takes off Ocean Power will not only provide equipment but operate and maintain it.
The company floated on AIM in October 2003 at 125p. The share price has dwindled since then and is now trading at 95p reflecting the long road to commercialisation. Funding poses a challenge and public money and venture capital will remain the most reliable sources in the short-term. Mr Jordan is sanguine and reminds me that the wave power industry is where wind power was 15 years ago. The difference being that wave power can progress faster in the current climate. The industry has learnt from the mistakes of wind power and has actively engaged with all the relevant stakeholders such as fisheries and environmental groups.|
|arja: but chart looks promising and in short term uptrend. But one big seller could decimate the share price ! look at the pitifully low volume today .|
|dannythefox: All well and good and after researching the stock I was ready to buy but not possible with Squaregain as not on Crest. Why do they list on Aim and not Crest - if they were on Crest I think the share price would be alot higher.|
|quinn20: Interesting to compare where OPT are at today with the brokers initiating coverage note from 2 years ago in October 2003
Net proceeds of £22.4m raised in an IPO on AIM will be used to accelerate
OPT's commercial development programme, to increase marketing efforts
and establish a UK-based operation and demonstration plant.
Ocean Power Technologies is a leading renewable energy technology
company that has developed and is currently commercializing the world's
first offshore wave-powered electrical generation system. OPT's 'PowerBuoy'
technology offers a proven, low-cost, reliable, easily scalable, non-polluting,
non-visible, non-audible, distributed power solution.
OPT's business strategy capitalizes on the increasingly strict demands of
national and international environmental legislation, a desire by western
countries to reduce their dependency on Middle Eastern oil, the liberalization
of power generation markets and an insatiable increase in the demand for
electrical power, worldwide.
Capital costs and life-cycle energy costs of OPT's PowerBuoy compare
favorably against wind power, photovoltaics, geothermal energy and biomass
generation. PowerBuoys also demonstrate advantages on a number of other
parameters when matched against these other forms of renewable energy.
These include energy availability, energy density and predictability,
scalability, the number of potential installation sites and on a range of
OPT has deployed and operated its wave-powered systems in ocean tests
since 1997 and the first commercial installation of OPT's PowerBuoy system is
underway off the coast of Hawaii for the US Navy. OPT and its licensees are
currently in the process of negotiating a large number of contracts with major
utilities, state and national governments and large corporations. News flow
over the next few weeks is expected to report on the progression of a number
of these developments, on the continuing development of the company's
technology and on the establishment of a demonstration plant in the UK.
While the company is not expected to report meaningful profitability until
4/06E, positive news flow over the coming weeks and months is expected to
lead to share price appreciation. We initiate our coverage with a target price of 200p.|
|new chartist: This stock is over valued in share price terms.
It is a short imo.
They talk about multiples of 100MW - how big is the biggest so far?
Would that be under 1MW?|
|smoketrader: I think there's less interest in this stock because the technology it promotes isn't in a lot of cases a direct substitute for oil derivatives. I haven't looked into BFC but I imagine the reason for their share price increase recently is largely due to rising oil prices permanently in the news.
Many of the opponents to renewable energy cite the high cost of energy production when compared to fossil fuels but I don't think this argument is valid. The point is more that oil and the energy it produces has come cheaply, as evidenced by our rate of discovering it and burning it when compared to its rate of production. Unless some new miracle technology is developed (i.e. cold fusion) we're going to have to get used to energy coming at a higher price than we've had to pay in the past.
This is why I think more progress should be made on reducing energy dependency through increasing energy efficiency in buildings, further developing solar technologies, and reducing our need to travel. Society has developed around the availability of cheap energy to the extent where we think nothing of travelling hundreds of miles by road and thousands of miles by air, journeys that previously would have been impossible and may in the future be prohibitively expensive.|
Ocean Power Technologies share price data is direct from the London Stock Exchange