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| Share Name | Share Symbol | Market | Stock Type |
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| Ocean Pwr Di | OPT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 355.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 355.00 | 355.00 |
| Top Posts |
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Posted at 11/11/2011 11:09 by chelwood01 just to let the opt thread know that i will not be posting on your thread again , after a few battles with trol , the war was won yesterday and hopefully in time he can recovery and rejoin normal society .best of luck to all holders . c01 |
Posted at 30/9/2011 13:23 by investrology add chelwood01 job done!No need to run from morons! |
Posted at 19/9/2011 10:02 by k3nw00d lol - people will wonder what the sudden interest in OPT is - lol |
Posted at 17/9/2011 10:12 by investrology Good link. |
Posted at 09/5/2011 08:37 by jamesmaggs OPT's PB 150 hits the waterPosted 09.05.2011 08:48:24 av John Bradbury Ocean trials have commenced offshore Scotland for a new wave energy device which has already been adopted in the US. Offshore testing has commenced on the PB150 Powerbuoy wave energy device developed by Ocean Power Technologies at a site 33 nautical miles off Inverness in north-east Scotland and the device is due to stay in the water for up to three months with a range of operational and functional tests to be carried out. Already PB150s each one designed to produce up to 150 kilowatts - have been used for grid-connected power production off Hawaii in the US and the performance of the device has been in line with predicted models of the wave environment there, OPT says. Deployment of the OPT device was carried out by a joint team comprising Global Maritime Scotland, Port Services in Invergordon, and Cromarty Port Authority. A second unit is also under construction for use in the US, in what is expected to become a utility-scale project offshore Oregon. |
Posted at 06/11/2009 17:15 by bainsey OPT Australian project wins A$66.5m award (Ocean Power Tech)TIDMOPT RNS Number : 1498C Ocean Power Technologies Inc 06 November 2009 ? OCEAN POWER TECHNOLOGIES PROJECT WINS A$66.5M AWARD FROM AUSTRALIAN FEDERAL GOVERNMENT Pennington, New Jersey - November 6, 2009 - Ocean Power Technologies (Australasia) Pty Ltd ("OPTA"), a subsidiary of Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT") is pleased to announce that, in partnership with Leighton Contractors Pty Ltd ("Leighton"), it has received a A$66.46 million grant from the Federal Government of Australia to build a 19 MW wave power project off the coast of Victoria, Australia. The award is one of four renewable energy projects approved by the Federal Government after considering over 30 applications, and is the sole wave energy venture. The Government funding will be used by OPTA and Leighton to advance the construction of a wave power station to be built in three phases off the coast of Victoria near the city of Portland, with a total expected capacity of 19 MW - sufficient to fulfill the energy needs of approximately 10,000 homes. The project is to be developed by a special purpose company, Victorian Wave Partners Pty Ltd, that was formed by OPTA and Leighton following the signing of an agreement (as announced December 19, 2008) to collaborate in pursuing wave power projects off the east and south coasts of Australia. It is expected that work will begin on the project by the second quarter of calendar year 2010. Dr. George W. Taylor, founder and Executive Chairman of OPT, and Chief Executive of OPTA, said: "We are delighted to have received this vote of confidence from the Australian Federal Government, which has taken a bold step to spur adoption of renewables and wave energy in particular. Our Victoria, Australia project is expected to be one of the first utility-scale wave energy projects globally, and the latest example of OPT's lead in turning wave energy technology into a commercial reality worldwide." Taylor, who was born and educated in Australia, continued, "We are delighted to have this opportunity to use OPT's PowerBuoy technology in Australia." The award was announced by the Australian Resources & Energy Minister, Martin Ferguson, under the Renewable Energy Demonstration Program (REDP), which has awarded funding totaling A$235 million to four renewable energy projects, aimed at meeting the Government's target of generating 20% of the country's energy needs from renewable sources by 2020. The grant is conditional on the signing of a Funding Deed stipulating the conditions for the grant, which includes funding milestones. Victorian Wave Partners will be required to seek additional funding to enable the completion of the 19 MW wave power station. |
Posted at 01/10/2009 15:39 by barbudo viejo Excellent news, and a real vindication of OPT's vision, execution and business plan. OPT clearly have a purpose-built, replicable package in the area of autonomous marine power-generation, entirely non-dependent on 'green' spending, and in an area of defence - marine surveillance - where both allied and competing naval powers will not want to be left behind, and in which there is almost no competing product.Obviously, companies like OPT move lethargically with the enormous drag of all the R&D and the painstaking road-testing of such innovative mechanical engineering. However, when the contracts do appear, they are big, and OPT is doing business. Obviously, the more business they do, the less their Powerbuoys will cost, the more they will sell. It's fantastic to see them succeeding, and I look forward to seeing further progress soon. This is just my opinion. |
Posted at 01/10/2009 15:25 by barbudo viejo RNS Number : 0150A Ocean Power Technologies Inc 01 October 2009 ? OCEAN POWER TECHNOLOGIES WINS NEW $2.4 MILLION CONTRACT FROM US NAVY FOR MARITIME SECURITY Pennington, New Jersey - October 1, 2009 -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or "the Company") announces that it has achieved a significant milestone for its autonomous PowerBuoy product with the award of a new $2.4 million contract from the US Navy to provide OPT's PowerBuoy wave energy conversion system to the Navy's Littoral Expeditionary Autonomous PowerBuoy (LEAP) program. This contract, to be performed over a one year period, is the initial award under a proposed four-year $15.0 million project concerning the LEAP system that has been established to enhance the US Navy's anti-terrorism and force protection capability by providing persistent power at sea for port maritime surveillance in the near coast, harbors, piers and offshore areas. The system capability includes detection, tracking and communication of information on a timely basis. Certain aspects of the system will be provided by sub-contractors to OPT, including Rutgers University and Mikros Systems Corporation. Under the initial contract, OPT will provide its PowerBuoy wave energy conversion technology for testing with sensor-based and communications systems, with the ultimate aim under the four-year program of developing a LEAP-based vessel detection system testbed. This is OPT's first contract with the US Navy under the LEAP program, and builds on its existing relationship that dates back to June 2007 when OPT was awarded a $1.7 million contract to provide autonomous PowerBuoy technology for the Navy's Deep Water Active Detection System ("DWADS") for ocean data gathering. In addition, OPT has worked under contract from the US Navy in a program for the development and testing of PowerBuoy wave power systems at the Marine Corps Base in Oahu, Hawaii. The LEAP program objective includes leveraging a number of existing technologies, including at-sea sensors, communications, real-time signal processing and OPT's PowerBuoy. The benefits for the United States are expected to include protection for critical infrastructure, drug traffic interdiction and detection of surface and subsurface maritime threats. |
Posted at 26/1/2009 15:03 by bainsey OPT and Lockheed Martin wave power agreement (Ocean Power Tech)TIDMOPT RNS Number : 2472M Ocean Power Technologies Inc 26 January 2009 ? OCEAN POWER TECHNOLOGIES and lockheed martin announce Collaboration for utility wave power project (Moorestown, NJ and Pennington, NJ, January 26, 2009) Lockheed Martin [NYSE: LMT] and Ocean Power Technologies, Inc. (OPT) [Nasdaq: OPTT and London Stock Exchange AIM: OPT] announced they have signed a letter of intent to collaborate in the development of a utility-scale wave power generation project in North America. Lockheed Martin and OPT intend to enter into an agreement under which OPT would provide its project and site development expertise, build the power take-off and control systems of the plant, and provide its proprietary PowerBuoy technology. Lockheed Martin would provide construction, systems integration and deployment of the plant, as well as operations and maintenance services. This is the first agreement between the two companies for a utility-scale renewable energy project and builds on their previous work together on systems for U.S. homeland security and maritime surveillance consisting of OPT's unique autonomous PowerBuoy integrated with Lockheed Martin's advanced acoustic sensors, signal processing and communications systems. OPT's PowerBuoy wave generation system uses a "smart" buoy to capture and convert wave energy into low-cost, clean electricity. The generated power is transmitted ashore via an underwater power cable. The prospective wave power project between Lockheed Martin and OPT is expected to be off the coasts of either California or Oregon. Dr. George W. Taylor, Chief Executive Officer of OPT, said "We are pleased to announce these plans to work with Lockheed Martin to pursue a utility-scale power station using our PowerBuoy technology. This collaboration will serve to draw on the key strengths of each company, and leverage our respective commitments to renewable energy as both the U.S. federal and state governments increase their investment in the sector. We believe that our existing and prospective customers will highly value the combined innovation and execution capability this match brings to the marketplace." "This agreement is another step in Lockheed Martin's effort to support our national security through energy independence built around zero-emission renewable energy sources," said Howard Luebcke, Lockheed Martin director of Renewable Energy Business Development. "The depth and breadth of Lockheed Martin's systems engineering, procurement, manufacturing and process improvement capabilities, combined with OPT's innovative PowerBuoy technology and their project development experience, will promote the rapid deployment of utility-scale systems." In November 2007, Lockheed Martin teamed with Starwood Energy Group to pursue utility solar generation projects in North America and has been pursuing multiple utility-scale opportunities. In December 2008, Lockheed Martin broke ground for construction of a solar power test bed to support these efforts, demonstrating its systems engineering and resources commitment to the renewable power generation market. |
Posted at 21/11/2003 16:15 by quinn20 A bit of light readingOCEAN POWER TECHNOLOGIES, INC. ("OPT" or "the Company") Publication of Prospectus for Placing of 20,000,000 Common Shares at 125p per share and flotation on AIM OPT is a leading wave energy technology company that develops and markets renewable and scaleable, offshore wave-powered electricity generation systems. The Company's innovative and intelligent systems are expected to enable the efficient production of clean, non-polluting electrical power generated by ocean waves. The Company has deployed and operated its wave-powered systems in ocean tests since 1997 and the first commercial installation of OPT's "PowerBuoyTM" system is underway off the coast of Hawaii for the US Navy. KEY POINTS The Placing will raise £25m of additional capital (before expenses) for the Company, which will be used to accelerate the commercial development programme, increase marketing efforts and establish a UK-based operation and demonstration power plant. On admission to AIM, the market capitalisation of OPT will be £62.84m. Dealings in OPT shares on AIM are expected to begin on 31 October, 2003. Evolution Beeson Gregory is OPT's Nominated Adviser and broker to the Placing. Dr George Taylor, President and Chief Executive Officer of OPT, comments: "I am delighted by the enthusiastic response from UK investors to our fund raising. European legislation on renewable energy means we are entering a growing market with a technology that has many cost and environmental advantages over other renewable sources such as wind and solar power." 24 October 2003 ENQUIRIES: Ocean Power Technologies Inc. Tel: 001 609 730 0400 George Taylor, President and CEO Charles Dunleavy, Chief Financial Officer Evolution Beeson Gregory Tel: 020 7071 4300 Mike Brennan Tim Redfern College Hill Tel: 020 7457 2020 Gareth David gareth.david@college Crawford Burden crawford.burden@coll PLACING STATISTICS Placing Price 125p Number of Common Shares in issue prior to the Placing 30,274,204 Number of Common Shares being placed on behalf of the Company 20,000,000 Total number of Common Shares in issue on Admission 50,274,204 Percentage of enlarged Common Share capital of the Company subject 39.78% to the Placing Estimated net proceeds of the Placing receivable by the Company £22.40m Market capitalisation on Admission at the Placing Price £62.84m Overview OPT is a leading wave energy technology company that develops and markets renewable and scaleable, offshore wave-powered electricity generation systems. The Company's innovative and intelligent systems are expected to enable the efficient production of clean, non-polluting electrical power generated by ocean waves. The Company 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. The PowerBuoy is a submerged, buoyant cylinder anchored to the sea floor, which is able to generate electricity from the rising and falling of ocean waves. The Company believes that its power station, consisting of an array of PowerBuoys, will be a reliable and cost-effective solution for generating power on a large scale. An OPT power station is designed to occupy a limited, off-shore ocean area, is not harmful to marine life and has no adverse visual or audible effects. The PowerBuoy integrates proven marine and offshore technologies (such as buoys, underwater power cables and moorings) with patented OPT technologies in the areas of hydrodynamics, electronics, energy conversion and computer control systems. The Company's systems will utilise electronics to react in real time to a broad range of changing wave conditions in order to capture efficiently the maximum amount of wave energy available. OPT's initial business strategy is to operate as a power generation equipment seller, targeting (i) the premium-priced power markets, such as Hawaii and Japan, and (ii) international markets, including large portions of Europe, that provide economic incentives for "green power". In the future, OPT expects that its technology will be able to compete in the mainstream power market comprised of large, grid-connected installations, without consideration of tax concessions, grants, credits or other offsets for renewable energy. Competitive advantages Since inception, OPT has focused on developing a wave power system that could compete economically with a conventional fossil fueled power station. OPT believes that the social and political pressure that is developing in certain parts of the world to use "green power" should provide OPT with an attractive and powerful sales advantage over fossil fueled power stations and other types of renewable energy systems. In addition to producing virtually no pollution, other benefits of OPT's system over a traditional plant include its relatively low property and construction costs and system maintenance requirements in comparison to conventional fossil-fuelled monolithic power stations. Due to the PowerBuoy system's modular design, the total construction time is dramatically reduced and the generating capacity can be scaled up or down by incrementally adding or subtracting groups of buoys. The Company believes that OPT's PowerBuoy system will be the off-shore wave powered electricity generating system most suitable for commercial deployment. OPT's primary competitive advantages consist of the following: OPT is beginning the commercialisation of its systems. The research and development relating to the PowerBuoy system's core design and functionality has been completed. OPT has an ocean wave powered electricity generating system which has been continually enhanced over years of ocean testing supplemented by multiple wave tank tests at United States Navy facilities. Innovative design and patented technologies OPT has 22 issued and 6 pending patents many of which relate to the Company's core technologies. The Company intends to increase its strong patent position to cover improved design, materials, structures and manufacturing and assembly techniques. Component sources, manufacturing and deployment OPT's system is based on ocean buoys and other standardised components and sub-assemblies. As a result, the costs of manufacture are easily estimated which lowers the Company's expense risks. Use of standardised components also means that they can be sourced locally throughout the world. Likewise the buoys can be manufactured anywhere there is an offshore industry fabrication and service capability and that same infrastructure can be used for deployment. Manufacture of low technology components will be outsourced. Ocean testing experience Ocean tests started in late 1997, continuing to the present time, including nearly full-size systems. OPT also has experience with three methods of deployment of its system and underwater power cable laying. Significant revenue opportunities The market for electricity is huge, demand is increasing and there is increasing social pressure and governmental commitments to use environmentally "friendly" electricity generating systems. The Company has an order backlog of approximately $4.0 million comprising orders for delivery of, and a development contract for, its PowerBuoy units from the US Navy. Experienced management and personnel OPT's management has considerable experience in the development, engineering and deployment of wave powered electricity generating systems. Members of the management team and the Directors also have management experience in listed technology companies. Electronics control technology OPT's proprietary, "smart" systems are designed to optimise the conversion of wave energy into electricity. The systems are expected to have the capability to respond automatically to variations in wave conditions by using on-board sensors, electronics and computers. Electronics and control software are subject to patents issued and pending. Certain associated algorithms are trade secrets. Remote monitoring capability OPT has developed a system for the monitoring and analysis of PowerBuoy in-ocean performance and for "real time" data transmission to onshore locations. The data can be viewed locally and transmitted via internet to any off-site location. Product survivability The PowerBuoy power system utilises numerous engineered components which together with the natural functioning of the buoy-like device are designed for a long service life. The ocean survivability history of many of these components is well documented. The PowerBuoy system has undergone hurricane-force storm conditions during its in-ocean testing and is designed to withstand 50-foot storm waves. Experience in obtaining necessary permits OPT has experience in successfully obtaining permits and regulatory approvals for the installation and operation of its systems at two sites in the US and one in Australia. In addition, the Company has commissioned studies that support many of the necessary regulatory, maritime and environmental requirements. The Company believes this experience will enable it to obtain future permits in a cost effective and timely manner. Strategic relationships The Company has entered into several strategic relationships to help facilitate its research and development, and produce future revenue opportunities. For example, OPT has leveraged its grants from the US Navy to conduct research and accelerate development of its PowerBuoy system. Additionally, Penta-Ocean Construction Co., Ltd., a leading Japanese marine engineering and construction company, is OPT's agent for Japan and has provided financial support to OPT. Innovative Product Design OPT's offshore wave energy conversion system is designed to capture and convert the concentrated energy contained in waves into electricity. A power station would consist of an integrated array of individual buoys that are aligned within a long rectangle parallel to the incoming wave front. OPT's research has determined that the most efficient configuration of buoys, so as to expose each buoy to the maximum amount of incoming wave energy, is three staggered rows within the rectangle. The rectangle's distance offshore is determined by the gradient of the sea floor. Using OPT's existing PowerBuoys, each of which is designed to produce 50 kW, a 1 MW power plant would consist of 20 buoys utilising approximately two acres of ocean surface. The basic PowerBuoy unit consists of a long, submerged neutrally buoyant cylinder that is anchored to the sea floor. The head of the cylinder is sealed and is positioned approximately 3 to 6 feet beneath the ocean's surface. For safety purposes, selected buoys in the array are equipped with a navigational aid tower with a flashing light, radar reflector and foghorn. The generating system should be in a depth of approximately 100 feet, depending on the gradient of the ocean floor. Such depth is typically in the range of 0.5 to 5 miles offshore. Operation The PowerBuoy operates as follows: the rising and falling of the waves causes the outer cylindrical shell to move freely in an up and down motion. The powerful mechanical stroking resulting from this hydrodynamic motion creates forces that are used to drive the electrical generator, which is located in a watertight equipment canister on the sea floor. The electricity generated is variable amplitude, variable frequency alternating current (AC), corresponding to the randomness of ocean waves. This AC power is then converted in the equipment canister to high voltage direct current (DC) and is transmitted ashore by an underwater power cable. Once ashore, the power is inverted to 50/60 Hz AC for interconnection to the local power grid. In Hawaii, OPT is working with Hawaiian Electric Corporation to connect efficiently the OPT wave power station to the grid. In the case of remote area power, the electricity is converted into a suitable form for local usage. Included in the design of PowerBuoys are sensor devices and a computer that continuously monitor the performance of the various subsystems and the wave environment to optimise generating performance. In previous ocean tests, the Company has been able to adjust the performance of the buoy by remote signaling using radio frequency communication. OPT is presently developing a system by which the buoy will monitor and adjust its own performance in real time so as to ensure efficient conversion of the random wave energy into useful electrical power. The PowerBuoy design also includes sophisticated techniques for automatically disconnecting the system when abnormally large waves caused by storms or other conditions are present and then automatically reconnecting when the waves return to specified normal operating conditions. Other parts of the system include anchoring and mooring, as well as underwater hubs and underwater electrical power cables for interconnection and transmission of the generated power to shore. Current trading and commercial development Since the first ocean deployment of OPT's system in 1997, the Company has continued to focus on the commercial development of off-shore wave-generation electricity through OPT's PowerBuoy system. The Company has an order backlog of approximately $4.0 million comprising orders for delivery of, and a development contract for, its PowerBuoy units from the US Navy. OPT is deploying its first commercial 50 kW PowerBuoy off the coast of Hawaii, pursuant to its contract with the US Navy. Installation of the system commenced in September 2003. The contract requirements are focused on basic performance and marine survivability of multiple PowerBuoy units. Under this programme OPT expects to deploy additional PowerBuoys, and further expansion of the site is expected to be up to 1 MW of power station capacity. Permitting for the 1 MW site has been approved for six PowerBuoys. In addition to the US Navy, the Company has received and continues to receive numerous enquiries from a number of other potential customers which the Directors are optimistic will lead to future sales opportunities. Sales and routes to market OPT's strategy is to begin as an original equipment manufacturer by selling turnkey power generating systems and associated services to utilities, IPPs, government authorities and power system integrators. The Company will target markets with a high cost of electricity and those, including large portions of Europe, where political and environmental initiatives favour a clean energy source. As noted above, OPT will focus initially on the high-margin secondary power market, which alone constitutes the basis of a substantial business for OPT, before penetrating the much larger primary market. To gain market share as quickly as possible, OPT is establishing an international network of alliances, licensees and subsidiaries to market its systems. The Company has begun its commercial phase by selling smaller systems for installation at selected sites. That is, sales are structured in phases beginning with the installation of systems with capacity of less than 250 kW, followed by a scale-up to 2.5 MW and a subsequent scale-up to multi-megawatt capacity. The Company believes that systems of 2.5 MW or less are expected to be premium-priced to cover higher unit set-up and installation costs associated with the deployment of small systems. To date the Company has received commercial orders from the US Navy for the Marine Base in Hawaii for up to 1 MW. Through efficiency improvements and the development of higher capacity generation units, OPT expects to be able to offer its customers multi-megawatt systems suitable for generating electricity in the primary power market (including the US Marine Base in Hawaii which presently uses 12MW of power). The Company already has a contract with the US Office of Naval Research for the engineering and development of a PowerBuoy which is expected to have a five-fold increase in output over OPT's current design. OPT expects to ocean test the new design in 2004. Strategic Partnerships In 1995 OPT entered into a strategic relationship with Penta-Ocean Construction Co., Ltd. ("Penta"), a Japanese market leader in marine construction and infrastructure projects. In addition to providing funds for OPT's development engineering, Penta has contributed its expertise in the areas of marine construction, anchoring and mooring. Further, Penta is OPT's exclusive agent in Japan. OPT expects Penta will become a full licensee of OPT and that by virtue of Penta's existing business with the major power utilities of Japan, it will be a cost-effective approach to penetrating Japan's premium priced power markets. In late 2000, OPT signed an agreement with Metasource Pty. Ltd. ("Metasource"), a wholly-owned subsidiary of Woodside Petroleum Ltd., a leading Australian oil and gas company that is over 30 per cent. owned by a subsidiary of Royal Dutch/ Shell. Under the terms of the contract, Metasource purchased a five per cent. equity stake in OPT, paid for an option to invest in OPT-A and paid for an option to purchase five hundred thousand tonnes of carbon credits at a discount to the then market price from OPT during the period from the year 2008 to 2012 (see paragraph 11(b) of Part V below). On 6 July 2001, Metasource subsequently exercised its option to invest in OPT-A and currently owns approximately 12 per cent. of OPT-A. Licensing Agreements Instead of establishing a direct presence in certain worldwide markets, the Company may alternatively operate through local licensees. The Company plans to sell various types of licenses, including a basic representation agreement, under which a third party will receive exclusive or non-exclusive resale rights for a specified territory; a technology licence, which will add the right to manufacture non-core system components; and a power production licence, allowing for the building, owning and operating of primary power generating facilities; and system servicing and maintenance rights. Directors Sir Eric Ash - Non-Executive Chairman Sir Eric Ash joined the Board of Directors of OPT in 2001 and became chairman in 2003. From 1998 to 2002, he was the Treasurer and Vice President of the Royal Society. Sir Eric has been a Member of the Board of Directors of British Telecom and the British Government's Students Loan Company Plc. He has also served on the International Advisory Boards of Hewlett Packard, AMP Corporation and Robert Bosch GmbH. Sir Eric's academic appointments include Head of Department of Electronics, University College and Rector of Imperial College, University of London. Dr. George Taylor - Chief Executive Officer Dr. Taylor has served as President of Ocean Power Technologies, Inc. since 1990, as Vice President from 1984-1990, as Chief Executive Officer since 1993 and as a Director since 1984, when he co-founded OPT. In 1979 he co-founded and served as President of Princeton Research Associates, Inc., a consulting engineering, technical marketing and product development company specialising in semiconductor, electro-optic, ferroelectric, pyroelectric and piezoelectric materials, devices and systems. In 1971, Dr. Taylor co-founded Princeton Materials Science, Inc., a pioneer in liquid crystal displays and digital watch manufacturing. Dr. Taylor received a Bachelor of Engineering degree with First Class Honours in Electrical Engineering and a Doctor of Engineering degree from the University of Western Australia and a Ph.D. in Electrical Engineering degree from the University of London. He is a Fellow of the Institute of Engineers, Australia and the Institute of Electrical Engineers, London. Charles Dunleavy - Chief Financial Officer Mr. Dunleavy has served as Senior Vice President and Chief Financial Officer since 2001, as Vice President, Finance from 1993 to 2001 and as Treasurer, Secretary and Director of OPT since 1990. Mr. Dunleavy is a Certified Public Accountant (CPA) and his career encompasses broad experience with public and private international companies in mergers and acquisitions, international finance, capital sourcing and financial controls. From 1990 to 1993 Mr Dunleavy served as Vice President, Chief Financial Officer and Treasurer of Whole Systems International Corp., a privately held company specializing in multimedia, software-based instructional systems and information technology. Previously, from 1983 to 1990, Mr Dunleavy was the Corporate Controller for Intermetrics, Inc., (now Titan Corporation), a public company which at the time provided software engineering services and standard software development tools to an international client base. Seymour Stotler Preston III - Non Executive Director Mr. Preston joined the Board of Directors of OPT in September 2003. Prior to that he served on OPT's Board of Advisors from 1999 to 2003. From 1994 to 2003, he was the Chairman and Chief Executive Officer of AAC Engineered Systems, Inc., a small privately-held manufacturing company. Over the period from 1961 to 1990, Mr. Preston served in various positions at Pennwalt Corporation (NYSE), including President, Chief Operating Officer and director from 1977 to 1989. Mr. Preston served as President and Chief Executive Officer of Elf Atochem North America, Inc. from 1990 to 1993. Mr. Preston was also a director of CoreStates Financial Corporation from 1978 to 1997 and CoreStates Bank, N.A. from 1978 to 1998. Mr. Preston received his M.B.A. degree from Harvard Business School and his B.A. degree from Williams College. |
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