Add
OPTT to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| OPTT > SEC Filings for OPTT > Form 8-K on 1-Oct-2009 | All Recent SEC Filings |
1-Oct-2009
Entry into a Material Definitive Agreement, Other Events, Financia
On September 25, 2009, Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT") entered into a contract (the "Agreement") with the US Navy (the "Navy"). OPT will be eligible to receive $2.4 million under the Agreement.
This contract, to be performed over a one year period, is the initial award under a proposed four-year project concerning the Navy's Littoral Expeditionary Autonomous PowerBuoy (LEAP) system that has been established to enhance the 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.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which will be filed as an exhibit to OPT's next quarterly report on Form 10-Q for the period ended October 31, 2009.
On October 1, 2009, OPT issued a press release announcing the Agreement. The full text of the press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
(d) Exhibits.
99.1 Press release issued by the Company dated October 1, 2009.
|
|