Meldungen 04.01.2008

4.1.2008: Meldung: Ocean Power Technologies, Inc.: New Head of Business Development and Marketing

Ocean Power Technologies Appoints New Head of Business Development and Marketing


PENNINGTON, N.J.-- Jan. 3, 2008--Ocean Power Technologies, Inc. ("OPT" or the "Company") announced today the appointment of Herbert T. Nock to the position of Vice President, Business Development & Marketing. This is a new position that has been created as the Company"s commercialization of wave power is expected to continue gaining momentum in 2008. Reporting to Dr. George W. Taylor, OPT"s Chief Executive Officer, Mr. Nock will be responsible for business development, sales and marketing activities of Ocean Power Technologies, Inc.


Prior to joining OPT, Mr. Nock"s successful career encompassed extensive experience in the marketing and sales of electric utility power plants to an international customer base, as well as distributed alternative energy systems. He has been a leader of the commercialization of new electrical power technologies at publicly-held companies. Mr. Nock"s previous positions held include five years as Senior Vice President Marketing and Sales at Fuel Cell Energy, Inc. (Nasdaq: FCEL) and twenty-nine years in the Power Systems Division of General Electric Company (NYSE: GE). At GE, Mr. Nock served as Product General Manager, Manager - Power Plant Generation Programs, Manager - Marketing and Sales, and in other positions. In these roles, he managed international, multi-channel marketing agreements for gas turbine systems. In addition, he was a key team member for the successful integration of an internationally-based company acquired by GE, which supplied large gas turbine compressors and power generation systems. Mr. Nock also developed and oversaw the international sales organization responsible for the sale of small gas turbine power generation systems provided by that GE subsidiary.


Dr. Taylor stated, "We are very pleased to have Herb Nock join OPT. He brings an important depth and scope of experience and business development skills to the Company. Herb"s career has had notable successes in both conventional and alternative energy systems sold to large commercial customers around the world. This background is important to the Company"s growth and we welcome him to the senior management team."


Mr. Nock holds an MBA degree with a concentration in marketing and finance from the Boston University Graduate School of Management, and a Bachelor of Science degree in Mechanical Engineering from Worcester Polytechnic Institute, and has been a Mentor for the MIT Enterprise Forum.


About Ocean Power Technologies


Ocean Power Technologies, Inc. develops and is commercializing proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The Company"s PowerBuoy(R) system is based on modular, ocean-going buoys, which have been ocean tested for nearly a decade. The waves move the buoy-like structure creating mechanical energy that the Company"s proprietary technologies convert into electricity.


CONTACT: Ocean Power Technologies, Inc.

Dr. George W. Taylor, +1 609-730-0400

Chief Executive Officer


Charles F. Dunleavy, +1 609-730-0400

Chief Financial Officer


Corfin Communications

Martin Sutton


Neil Thapar

+44 20 7977 0020


Collins Stewart Europe Limited

Adrian Hadden, +44 20 7523 8353


SOURCE: Ocean Power Technologies, Inc.



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