Ocean Power Chooses Robert Powers as CFO

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Ocean Power Technologies Inc. (OPT) has named Robert P. Powers senior vice president and CFO. He brings more than 25 years of experience in finance and strategy to OPT, most recently as CFO of Constellation Advisors, a private equity-owned provider of outsourced back-office operations and compliance services.

He has held financial leadership roles with Sterling Talent Solutions, Wood Group PPS (a division of Wood Group), GTE, SABIC Innovative Plastics and Plug Power.

“We are thrilled to welcome Bob to OPT, where we expect him to have an immediate impact on our business operations,” says Philipp Stratmann, OPT president and CEO. “He brings a broad range of financial experience and a long track record of delivering results and creating value. In particular, his experience at building subscription revenues and overseeing global operations will be important as we execute our growth strategy of market expansion, development of power and data as a service and inorganic growth.”

“Through its recent efforts and strategic acquisitions, OPT is entering an exciting growth phase that I wanted to be part of,” states Powers. “I believe my direct experience will allow me to hit the ground running. I am delighted to join this exciting company and look forward to working with the OPT leadership and finance teams to contribute to the company’s sustainable growth strategy.”

OPT’s PowerBuoy solutions platform provides clean electric power and real-time data communications for remote maritime and subsea applications in markets such as offshore oil and gas, defense and security, science and research, and offshore wind.

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