Ocean Thermal Energy Corp Enters Material Definitive Agreement
Ticker: CPWR · Form: 8-K · Filed: Jan 14, 2025 · CIK: 827099
Sentiment: neutral
Topics: material-definitive-agreement, corporate-actions
TL;DR
OTE: Signed a big deal Jan 7th. Details TBD.
AI Summary
Ocean Thermal Energy Corporation entered into a Material Definitive Agreement on January 7, 2025. The filing does not disclose specific details of the agreement or any associated dollar amounts. The company, formerly known as Tetridyn Solutions Inc., Creative Vending Corp, and HWS Mai Corp, is incorporated in Nevada and headquartered in Philadelphia, PA.
Why It Matters
This filing indicates a significant new contract or partnership for Ocean Thermal Energy Corp, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its terms and potential impact.
Key Players & Entities
- Ocean Thermal Energy Corporation (company) — Registrant
- January 7, 2025 (date) — Date of earliest event reported
- Tetridyn Solutions Inc. (company) — Former company name
- Creative Vending Corp (company) — Former company name
- HWS Mai Corp (company) — Former company name
- 3675 Market Street, Suite 200, Philadelphia, PA 19104 (location) — Business and mailing address
FAQ
What is the nature of the Material Definitive Agreement entered into by Ocean Thermal Energy Corporation?
The filing states that Ocean Thermal Energy Corporation entered into a Material Definitive Agreement on January 7, 2025, but does not provide specific details regarding its nature or terms.
When was the Material Definitive Agreement entered into?
The Material Definitive Agreement was entered into on January 7, 2025.
What were Ocean Thermal Energy Corporation's former company names?
Ocean Thermal Energy Corporation was formerly known as Tetridyn Solutions Inc., Creative Vending Corp, and HWS Mai Corp.
Where is Ocean Thermal Energy Corporation headquartered?
Ocean Thermal Energy Corporation's business and mailing address is 3675 Market Street, Suite 200, Philadelphia, PA 19104.
What is the state of incorporation for Ocean Thermal Energy Corporation?
Ocean Thermal Energy Corporation is incorporated in Nevada.
Filing Stats: 526 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2025-01-14 15:03:30
Key Financial Figures
- $3,504,796 — he Marshall Islands, for a fixed fee of $3,504,796. The parties plan to complete this proj
Filing Documents
- cpwr_8k.htm (8-K) — 28KB
- cpwr_ex991.htm (EX-99.1) — 6KB
- 0001654954-25-000372.txt ( ) — 148KB
- cpwr-20250107.xsd (EX-101.SCH) — 6KB
- cpwr-20250107_lab.xml (EX-101.LAB) — 13KB
- cpwr-20250107_cal.xml (EX-101.CAL) — 1KB
- cpwr-20250107_pre.xml (EX-101.PRE) — 8KB
- cpwr-20250107_def.xml (EX-101.DEF) — 2KB
- cpwr_8k_htm.xml (XML) — 3KB
01—ENTRY INTO A DEFINITIVE MATERIAL AGREEMENT
ITEM 1.01—ENTRY INTO A DEFINITIVE MATERIAL AGREEMENT On January 7, 2025, we entered into a Professional Services Agreement effective as of December 17, 2024, with Johnson Controls Government Services, LLC, under its Deep Energy Retrofit Assessment program for engineering planning and design at U.S. Army Garrison Kwajalein Atoll (USAG-KA). Pursuant to the agreement, we will render services in connection with the development and engineering of an ocean thermal energy conversion and ocean water desalination potable water solution facility at USAG, located in the Republic of the Marshall Islands, for a fixed fee of $3,504,796. The parties plan to complete this project by June 30, 2026. A copy of the agreement is attached hereto as Exhibit 10.69.
01—FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS The following are filed as exhibits to this report: Exhibit Number* Title of Document Location Item 10 Material Contracts 10.69 Professional Services Agreement with Johnson Controls Government Services, LLC, executed January 7, 2025, effective as of December 17, 2024 This filing Item 99 Additional Exhibits 99.01 Press Release dated January 14, 2025 This filing 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OCEAN THERMAL ENERGY CORPORATION Dated: January 14, 2025 By: Jeremy P. Feakins Chief Executive Officer 3