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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.