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July 14, 2014
17:28 EDTOPTTOcean Power says VWP unit intends to terminate Funding Deed
Ocean Power discloses in a regulatory filing that on July 8, Victorian Wave Partners ,VWP, an indirect consolidated subsidiary of Ocean Power Technologies, tendered a notice to the Australian Renewable Energy Agency, ARENA, of VWPs intent to terminate the Renewable Energy Demonstration Program Funding Deed, dated as of September 9, 2010, entered into between VWP and the Commonwealth of Australia, as amended by a Deed of Variation dated January 9. Unless agreed otherwise, pursuant to the terms of the Funding Deed, it will terminate on October 8.
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