Ocean wave technology offers a broadly applicable opportunity for renewable energy. Ocean Power Technologies established its research and development to implement effective solutions incorporating wave technology into usable energy systems. “The conversion of wave energy into electric power is carried out through a direct drive generator that continuously charges an on-board battery pack (Energy Storage System). Power from the battery is delivered to meet application and end-user needs. This is particularly advantageous for applications that have varying power requirements including continuous and larger occasional peaks. OPT has designed the PB3 to minimize operational costs (OPEX) whereby deployment and recovery thereof is simplified, leveraging vessels widely employed in offshore marine operations. The PB3 can be either towed to site or deployed from a vessel’s deck.”