NEWS
Ocean Power Technologies Announces $1.1 Million Preliminary Award from the New Jersey Economic Development Authority (NJEDA) Technology Business Tax Certificate Transfer Program
Ocean Power Technologies (NYSE American: OPTT) has received a $1.1 million preliminary award from the New Jersey Economic Development Authority (NJEDA) 2024 Technology Business Tax Certificate Transfer Program. This program, also known as the Net Operating Loss (NOL) Program, allows technology and life sciences businesses in New Jersey to sell a percentage of their New Jersey net operating losses and unused R&D tax credits to unrelated profitable corporations for cash.
OPT participates in this program annually, having received a $1.2 million award in 2023. The funding is considered a significant resource as the company progresses on its path to profitability. The award also highlights the potential value of OPT's net operating losses and unused R&D tax credits, emphasizing the importance of preserving these assets for future monetization opportunities.
OPT participates in this program annually, having received a $1.2 million award in 2023. The funding is considered a significant resource as the company progresses on its path to profitability. The award also highlights the potential value of OPT's net operating losses and unused R&D tax credits, emphasizing the importance of preserving these assets for future monetization opportunities.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
1678Followers
93Following
13KVisitors
Follow