Ocean Power Technologies Inc.
EnergyBoom’s E•B Biofuel subindex decline of 0.99 percent last week was the best performance among the EnergyBoom clean sector indices. It also beat the leading green ETFs and all broad market indices except the Dax Index of 30 bluechips trading on the Frankfurt Stock Exchange, which slipped 0.24 percent.
Energy consulting firm IHS Inc. (NYSE: IHS) issued a report this week saying 1.8 gigawatts (GW) of ocean wave and tidal energy projects are in “the pipeline”. For investors wanting to participate, there is only one publicly traded pure-play company in this business: Ocean Power Technologies, Inc. (NASDAQ: OPTT).
The U.S. Department of Energy (DOE) recently announced it will make its largest investment ever – more than $37 Million – to develop marine and hydrokinetic (MHK) technologies.