4 1 algonquinform410312001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). 1. Name and Address of Reporting Person Algonquin Capital Management, LLC 440 Main Street Ridgefield, Connecticut 06877 and the Reporting Person(s) listed on Addendum 1 hereto. 2. Issuer Name and Ticker or Trading Symbol Ocean Power Corporation (PWRE) 3. IRS Number of Reporting Person (Voluntary) 4. Statement for Month/Year 09/01 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s)to Issuer (Check all applicable) ( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. Individual or Joint/Group Filing (check Applicable Line) __Form filed by One Reporting Person X Form filed by More than One Reporting Person. Page 1 or 3

Page 2 of 3 ALGONQUIN CAPITAL MANAGEMENT, L.L.C. /s/ Michael Lockwood* By: _________________________ Title: Member-Manager MICHAEL LOCKWOOD /s/ Michael Lockwood* By: _________________________ ** Signature of Reporting Persons Date: November 2, 2001 Explanation of Responses: + Michael Lockwood may be deemed to be a controlling person of Algonquin and Lockwood Children's Longterm Trust and therefore may be deemed to be the indirect beneficial owner of the 1,799,000 shares of Ocean Power Corp., and five warrants that can be exercised for 3,288,000 shares of Ocean Power Corp., that are owned directly by Algonquin and Lockwoodv Children's Longterm Trust. * Not to be construed as an admission of beneficial ownership. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See U.S.C. 1001 and 15 U.S.C. 78ff(a). Page 3 of 3 ADDENDUM 1 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 1. Name and Address of Reporting Person Michael Lockwood 440 Main Street Ridgefield, Connecticut 06877 2. Issuer Name and Ticket or Trading Symbol Ocean Power Corporation (PWRE) 3. IRS Number of Reporting Person (Voluntary) 4. Statement for Month/Year 09/01

OCEAN POWER CORP 4