Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Draper Mark
2. Date of Event Requiring Statement (Month/Day/Year)
04/24/2007
3. Issuer Name and Ticker or Trading Symbol
Ocean Power Technologies, Inc. [OPTT]
(Last)
(First)
(Middle)
C/O OCEAN POWER TECHNOLOGIES, INC., 1590 REED ROAD
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive of OPT Ltd.
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

PENNINGTON, NJ 08534
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) 09/15/2004 09/15/2014 Common Stock 10,000 (2) $ 12.8 (2) D  
Employee Stock Option (Right to Buy)   (1) 09/15/2014 Common Stock 20,000 (2) $ 15 (2) D  
Employee Stock Option (Right to Buy)   (1) 11/10/2015 Common Stock 18,638 (2) $ 12.6 (2) D  
Employee Stock Option (Right to Buy)   (1) 06/16/2016 Common Stock 30,000 (2) $ 13.8 (2) D  
Employee Stock Option (Right to Buy)   (1) 06/17/2015 Common Stock 13,500 (2) $ 11.9 (2) D  
Employee Stock Option (Right to Buy)   (1) 11/10/2015 Common Stock 1,361 (2) $ 12.6 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Draper Mark
C/O OCEAN POWER TECHNOLOGIES, INC.
1590 REED ROAD
PENNINGTON, NJ 08534
      Chief Executive of OPT Ltd.  

Signatures

/s/ Charles F. Dunleavy as attorney-in-fact for Mark Draper 04/24/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Vests in five equal annual installments beginning one year after date of grant.
(2) Reflects a one-for-ten reverse stock split, which became effective on April 20, 2007 pursuant to which (i) the number of shares common stock underlying the option was divided by ten and (ii) the exercise price of the option was multiplied by ten.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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