OTE starts trading under CPWR symbol
- Business & Finance
Ocean Thermal Energy Corporation (OTE) has started trading under its new stock symbol CPWR.
The new stock symbol was put into effect on June 21, 2017, OTE informed.
The change of the trading symbol follows OTE’s entry to public market in May 2017 through reverse merger into TetriDyn Solutions.
The CPWR symbol is phonetic shorthand for ‘sea power’, and it reinforces OTE’s mission of exploiting one of Earth’s most valuable resources – the oceans, OTE said.
Jeremy Feakins, Chairman and CEO of OTE, said: “The confirmation of our symbol CPWR is a small but significant step as Ocean Thermal Energy Corp’s common stock will be identified with and tied to the power and sustainability of the seas. We are pleased with this turn of events as we continue to evolve as a public company generating energy, power, and potable water from the world’s oceans and seas.”
OTE is a developer of ocean thermal energy conversion (OTEC) plants, and Seawater Air Conditioning (SWAC) projects.
OTEC is a clean technology that extracts energy from the temperature difference between warm surface ocean water and cold deep seawater.