Ocean Power

This article is a continuation of my Ten Alternative Energy Speculations for 2008, with picks #8, 9, and10 published last Thursday.  If you haven't already, please read the introduction to that article before buying any of the stock picks that follow.  These companies are likely to be highly volatile, and large positions are not appropriate for many investors.   My least risky picks are part of that same article linked to above; the moderately risky picks are here.  This article contains the most speculative three picks. #3 Nevada Geothermal Power (OTCBB:NGLPF or Toronto:NGP.V) US$1.29 or CAD$1.26 Geothermal first started catching...

Marsha Johnston “We’re still at the point where the car industry was of not knowing whether the engine should be at the front or the back,” quips Christopher Barry, chair of the Ocean Energy Technical and Research panel at the Society of Naval Architects and Marine Engineers. “At least a dozen companies are looking into …with at least half a dozen main ideas for getting the energy out that are distinctly different and many variants on those themes.  There are lots of opportunities and we don’t know which will be the winner.”  In contrast, he notes, turbine...

by Debra Fiakas CFA Mid-June 2015, Ocean Power Technologies (OPTT:  Nasdaq) announced final permits had been secured to deploy one of its power buoys off the coast southeast of New York City.  The company has lost no time in laying down mooring lines for the buoy.  The next step is to watch the skies for the best weather conditions to deploy the buoy.  Over the next year, Ocean Power will collect data the power buoy’s performance. Ocean Power Technologies is a developer of ocean wave energy technology.  The company has been...

by Debra Fiakas CFA The last post, Grid Connected Ocean Power, highlighted the claim by the U.S. Navy of the first grid connected ocean power generator in the country.  Two wave power systems have been connected to the electrical system at the U.S. Marine Base in Kanehoe Bay, Hawaii.  The Navy is gathering performance data as part of its on-going program to support renewable energy to perfect system designs, installation strategies on-going maintenance.  That is apparently not enough for the nation’s sailors.  Last week the Navy announced an award of $250,000 to Ocean Power Technologies (OPTT:  Nasdaq) to...

by Debra Fiakas CFA Shares of Ocean Power Technologies (OPTT:  Nasdaq) have traded off over the past two weeks, after setting a new 52-week high in early March 2013.  Investors had bid the stock up in the weeks before the fiscal third quarter earnings announcement, but those gains almost have been erased.  The new negative trend has put OPTT on our list of small-cap energy stocks sinking into oversold territory.  Is the sell-off a chance to pick up shares of this ocean power developer at a bargain?  A better question might be what was...

by Debra Fiakas CFA Earlier this week shares of Ocean Power Technologies (OPTT:  Nasdaq) soared as the company announced its first commercial order for its PowerBuoy hydrokinetic devices.  The order represents a modest $975,000 in potential revenue, but the customer, Mitsui Engineering and Shipbuilding Co. Ltd., provides extra value as a discerning buyer.  PowerBuoys are built to capture the energy in ocean waves to drive an electrical generator.  Power output can be delivered to nearby ocean or terrestrial installations.  With worldwide interests in the numerous marine markets, Mitsui could develop into a large and long-standing customer. OPTT...

by Debra Fiakas CFA The last post introduced Atlantis Resources Ltd. (ARL:  LN), a developer of tidal power generation technologies.  Atlantis has been working on a project called MeyGen ofthe coast of Scotland, which is to become the world’s largest tidal stream energy project.  It is a distinctive location where tidal action reaches up to five meters per second.  Atlantis will supply the underwater turbines for the 400-megawatt project, which has received regulatory consent. Atlantis is not the only tidal power developer to hear the call to the high seas off the coasts of Ireland and...

by Donna Salmons When we think of the ocean, it is often in the context of romantic travel and sand filled beaches. But the ocean, or more exactly the waves from the ocean, may soon be a source of power that a wave power device uses to create energy. At least that is the plan from Ocean Power Technologies . The Oregon Coast Project OPTT is planning to deploy its PowerBuoy project in 2011. The 150KW device, known as the PB150, is slated to be launched off the coast of Reedsport, Oregon....

John Lounsbury With the furor over the potential for hybrid, plug-in hybrid and all-electric cars recently, one might think the hydrogen car was dead. Nothing could be further from the truth. Feasibility at an affordable price appears to be established and market availability of hydrogen powered cars may come sooner than you think. Many issues remain to be addressed and this article will try to cover them. The problems to be overcome are not insurmountable, but are also not trivial. These problems include the economics of hydrogen production, transportation, distribution and...

by Debra Fiakas CFA The first two lines of the prospectus for the April 2017 public stock offering by Ocean Power Technologies (OPTT:  Nasdaq) say all investors need to know about the market opportunity for the company’s wave power generation products.  First, the earth’s surface is covered 70% by water.  Second, over 40% of the world’s population lives within 150 miles of a coastline.  If the earth is dominated by water and a good share of our energy-hungry population lives near that water, doesn’t it make sense to turn the ocean into a renewable energy source? If...

Jennifer Runyon Powerful Ocean Wave photo via Bigstock That was the question posed to industry experts at the EnergyOcean International conference and exhibition that took place in Danvers, Mass., this week. Referring to three levels of development Epoch 1, 2, and 3 Andrew Tyler, CEO of Marine Current Turbines (MCT), a company now owned by Siemens (SI), gave a few key pointers to companies interested getting beyond the “very expensive hobby” stage of ocean energy development. While his tongue-in-cheek...

Charles Morand The DOE made public earlier today the amount of money that will awarded to clean power projects in lieu of the usual tax breaks: $3 billion. This will allow project proponents to receive a direct cash grant now instead of a Production Tax Credit or an Investment Tax Credit later on. The guidance document notes the following: "Section 1603 of the Act’s tax title, the American Recovery and Reinvestment Tax Act, appropriates funds for payments to persons who place in service specified energy property during 2009 or 2010 or after 2010 if construction began...

Bill Paul My friend Consuelo Mack, host of "Consuelo Mack's Wealthtrack" on PBS TV, asks her guests for their "one investment pick." What's my one alternative energy stock pick? A year ago on Consuelo's show, I recommended LED lighting developer Cree Inc. (Symbol CREE), because the LED lighting market (part of the burgeoning energy efficiency sector) is expected to hit upwards of $5 billion by 2013 v. $600 million in 2008, according to investment banking firm Merriman, Curhan, Ford, and because Cree was then an attractive takeover candidate. It still is; however, since the stock has since risen something...

by Debra Fiakas CFA Atlantis Resources Ltd. (ARL:  LN) is among the most recent additions to the Ocean Group in Crystal Equity Research’s Earth, Wind and Fire Index of companies using the dynamic forces of the planet to generate energy.  Atlantis is a developer of tidal power generation technologies.  Atlantis has been working diligently for over a decade to developer underwater turbine technologies.  A project in San Remo, Australia using the company’s Aquanator tidal current turbine was among the first in the world to deliver ‘ocean’ power to an established electric power grid.  The Aquanator has since been...

by Debra Fiakas CFA For Ocean Power Technologies (OPTT:  Nasdaq) the sea is more a utility than Whitman’s source of romantic miracles.  The company has developed a wave turbine to capture the energy in ocean waves and turn it into electrical power.   Last month the company was successful in convincing investors of the merits of its ‘ocean utility’ technology, raising $8.2 million through the sale of common stock. Branded as the ‘PowerBuoy’, Ocean Power’s product line is headed by its PB3system that has the capacity to generate up to three kilowatts of peak power.  An onboard power storage system has the capacity to store up...

When I first got wind (no pun intended) of Finavera Renewables (TSX:FVR or FNVRF.PK), I did not make too much of it because my view was that commercial exploitation of wave power - which is the banner under which Finavera has decided to promote itself to the investor community - was a few years away at best. Then, upon hearing that the company had managed to get a prototype in the water (PDF document), I decided to do a bit more digging. After all, if the technology worked, the economics of the business model would closely resemble those...