Ocean Power Technologies, Inc. (OPTT,OPT.L) announced signing of a Memorandum of Understanding with the State of Oregon in order to set forth an approach for developing wave power projects within the coastal waters of Oregon.
Ocean Power, which is building its first US commercial scale wave power station off the coast of Reedsport, Oregon, said it will apply the important principles outlined in the Agreement for the potential development of future wave power facilities in Oregon, to the development of its Coos Bay Project.
Under the Agreement, the company said it will participate in a settlement and adaptive management process for the Coos Bay Project in accordance with Oregon's Territorial Sea Plan.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.