UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 2009
OCEAN POWER TECHNOLOGIES,
INC.
(Exact name of registrant as
specified in its charter)
| Delaware | 001-33417 | 22-2535818 | ||
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 1590 Reed
Road Pennington, NJ |
08534 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (609) 730-0400
| (Former name or former address if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
On March 30, 2009, in support of
its on-going wave power project with the US Navy to demonstrate the
Company’s PowerBuoy® system off the Hawaiian island of Oahu,
Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM:
OPT) (“OPT”) entered into an agreement with Sound and Sea
Technology, Inc. OPT will be eligible to receive US$1.1 million over the
term of the agreement, which will primarily be used to help fund the continuing
upgrades and testing of the PowerBuoy, for improved ocean durability. The
project is currently expected to continue through December 2009.
The foregoing description does not purport to be complete and
is qualified in its entirety by reference to the agreement, a copy of which
will be filed as an exhibit to OPT’s annual report on Form 10-K for the
period ended April 30, 2009.
Item 8.01 Other Events.
On April 1, 2009, OPT issued a press release announcing the agreement. The full text of the press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
|
(d)
|
Exhibits. | |
|
|
||
|
99.1
|
Press release issued by the Company dated April 1, 2009. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OCEAN POWER TECHNOLOGIES, INC.
Date: April 3, 2009
By: /s/
CHARLES F. DUNLEAVY
Charles F. Dunleavy
Senior Vice President and Chief
Financial Officer
| Exhibit No. | Description | |
99.1
|
Press release issued by the Company dated April 1, 2009. |