Taylor is the founder of the company and previously served as CEO. He has been appointed executive chairman of the company.

Dr. Taylor’s responsibilities will include strategic direction of the company and marketing and business development activities. Additionally, Seymour S Preston III, previously chairman and non-executive director, has been appointed vice chairman of the company and lead independent director.

While at Ocean Power, Draper has been instrumental to Ocean Power’s progress in developing its PowerBuoy PB150 product generation, and in expanding operations in to Europe and North America.

Prior to joining Ocean Power in 2004, Draper’s career encompassed a broad range of managerial and engineering roles at Powergen plc. Most recently, he served at Powergen as managing director of the Generation Business, with responsibility for nine major power stations (9,000 megawatts of capacity). He was instrumental in establishing and managing the growth of Powergen’s renewable generation activities, including on-shore and off-shore wind power stations.

Draper received a master’s degree in mechanical and electrical engineering from Cambridge University (UK), and has attended management training programs at Wharton and Harvard Business schools. Previously, he served as non-executive director for Slough Heat and Power Ltd and also serves as non-executive director for Renewable Power and Light plc. He is a fellow of both the Institute of Mechanical Engineers and the Institute of Electrical Engineers.

Dr. George W. Taylor, executive chairman of Ocean Power said, “The board of directors is very pleased that Mark has agreed to accept the position of chief executive officer. Since joining the company, he has demonstrated his strong abilities in the areas of operations, technology development and commercialization. Building on his prior experience in the utility industry in both renewable and conventional sources of power, Mark is well suited to lead the company as it moves to the next stage of growth in the worldwide marketplace.”