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Ocean Power Technologies, Inc. announced that the US Navy has awarded $2.75 million in additional funding to OPT for a second stage under its existing contract to provide an autonomous PowerBuoy® wave energy conversion system for the Navy’s near-coast anti-terrorism and maritime surveillance program.

The new award follows the successful completion by OPT of the first stage of a four-year $15.0 million project for the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program.

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