Offshore staff
MONROE TOWNSHIP, New Jersey – Ocean Power Technologies Inc. (OPT) has acquired 3Dent Technology LLC, an offshore energy engineering and design services company based in Houston.
3Dent Technology will operate under its current brand name as a wholly owned subsidiary of OPT.
Established in 2013, 3Dent Technology has built a dedicated team of engineers and naval architects to support oil and gas, offshore wind, and other industries, from early-stage innovation to detailed structural analysis. Its services include simulation engineering of hydrodynamic and structural applications, concept design, software engineering, and vessel monitoring for drilling contractors, construction yards, major oil companies, service companies, and engineering firms.
Under the terms of the deal, OPT agreed to pay 3Dent an amount of stock equal to $800,000 using the closing strike price on Dec. 11, 2020 – the date that the parties executed a non-binding letter of intent – equating to 361,991 shares of OPT common stock.
This is OPT’s first acquisition.
02/02/2021
