OPT Inc which is based out of New Jersey USA disclosed this while filing with the United States SEC. The company is looking to offer stocks on the NASDAQ and follow the trend of a growing number of renewable energy companies to do so. The lead underwriters will be UBS Investment Bank, Banc of America Securities and Bear Sterans & Co.
The stock which is already traded on the London Stock Exchange under the symbol OPT will be listed on the Nasdaq under the symbol OPTT. Currently the company has a number of projects including ones in Hawaii, New Jersey, and Spain. The PowerBuoy system is designed to transmit power ashore via an underwater cable and has a capacity of 40 KW at the moment. Plans are to build the capacity up to 500 KW by 2010, when the system will be placed in water depths between 100 to 200 feet.
For additional information:
http://www.oceanpowertechnologies.com/
