Sector: Energy | Industry: Renewable Energy Equipment & Services |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 3675 Market Street, Suite 200 PHILADELPHIA PA 19104 |
Tel: | N/A |
Website: | https://otecorporation.com |
IR: | See website |
Key People | ||
Bob Griffin Chief Operations Officer |
Business Overview |
Ocean Thermal Energy Corporation uses its proprietary technology to develop designs for renewable energy systems, primarily for Ocean Thermal Energy Conversion (OTEC), Seawater Air Conditioning (SWAC), and Lake Source Cooling (LSC) systems. The Company's geographical markets are tropical and subtropical regions of the world for OTEC, SWAC, and LSC and worldwide markets for SWAC and LSC. It develops projects for renewable power generation, desalinated water production, and air conditioning using its proprietary technologies designed to extract energy from the temperature differences between warm surface water and cold deep water. In addition, the Company's projects provide ancillary products such as potable/bottled water and aquaculture, mariculture, and agriculture opportunities. SWAC//LSC is a process that uses cold water from locations such as the ocean or deep lakes to provide the cooling capacity to replace traditional electrical chillers in an air conditioning system. |
Financial Overview |
For the fiscal year ended 31 December 2023, Ocean Thermal Energy Corp revenues was not reported. Net loss increased 32% to $9.2M. Basic Earnings per Share excluding Extraordinary Items decreased from -$0.04 to -$0.05. |
Employees: | 2 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $14.05M as of Dec 31, 2023 |
Annual revenue (TTM): | $0.00M as of Dec 31, 2023 |
EBITDA (TTM): | -$1.48M as of Dec 31, 2023 |
Net annual income (TTM): | -$9.15M as of Dec 31, 2023 |
Free cash flow (TTM): | -$0.67M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $8.52M as of Dec 31, 2023 |
Shares outstanding: | 184,370,469 as of Mar 25, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |