TIDMOPT

RNS Number : 2405Y

Ocean Power Technologies Inc

20 December 2010

DIRECTOR'S DEALING

Pennington, NJ - December 20, 2010 -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces that it received notification on December 17, 2010 that Dr. George W. Taylor, Executive Chairman and Director of OPT, had sold, on December 16 and December 17, 2010, a total of 47,000 shares of common stock at prices ranging from US$5.51 per share to US$5.85 per share. These transactions are in connection with estate planning initiatives undertaken by Dr. Taylor.

Following this sale Dr. Taylor holds 573,801 shares, representing 5.5% of the Company's issued share capital.

About Ocean Power Technologies

Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable and clean and environmentally-beneficial electricity. OPT has a strong track record in the advancement of wave energy. The Company participates in a $150 billion annual power generation equipment market. OPT's proprietary PowerBuoy(R) system is based on modular, ocean-going buoys that capture and convert predictable wave energy into clean electricity. The Company is widely recognized as a leading developer of on-grid and autonomous wave-energy generation systems, benefiting from over a decade of in-ocean experience. OPT is headquartered in Pennington, New Jersey with an office in Warwick, UK. More information can be found at www.oceanpowertechnologies.com.

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Contact information:

 
 Ocean Power Technologies, Inc.              Telephone: +1 609 730 0400 
  Charles F. Dunleavy, Chief Executive 
  Officer 
  Brian M. Posner, Chief Financial Officer 
 Nomura Code Securities Limited              Telephone: +44 20 7776 1200 
  Juliet Thompson, Richard Potts 
 Media Contact:                              Telephone: +44 20 7596 2860 
 Corfin Public Relations 
 Neil Thapar, Claire Norbury

This information is provided by RNS

The company news service from the London Stock Exchange

END

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