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| Press Release

Ocean Thermal Energy Corporation EcoVillage Team Headed to US Virgin Islands

Team to Advance the OTEC EcoVillage Project with Local Stakeholders

LANCASTER, PA / ACCESSWIRE / July 16, 2018 / Ocean Thermal Energy Corporation (OTCQB: CPWR) ("OTE" or "the Company"), a project developer for Ocean Thermal Energy Conversion (OTEC) renewable energy, Seawater Cooling (SWAC), and water desalinization plants, today announced that the OTEC EcoVillage Team will be in the US Virgin Islands this week to advance the planning process for the project with local stakeholders and professional advisors.

The team consists of Dr. Steve Oney, Chief Science Advisor; Heru Ofori-Atta, Vice President of Caribbean Operations; Gil Lyons, Jr., Co-Founder and Director of the Sky Institute for the Future; and OTEC EcoVillages Advisory Board Member and Architect Steve Mouzon, a Director of the Sky Institute for the Future and Partner in Studio Sky.

Jeremy P. Feakins, Chairman and CEO of Ocean Thermal Energy Corporation, commented: "Our mission is to inspire sustainable living and awareness by providing proven alternatives to ecologically destructive fossil-fuel powered electrical and water systems by building, owning, and operating OTEC renewable energy systems and water for drinking, agriculture, and economic development in our markets. To prove OTEC as a commercially viable renewable energy source, we have started the process to build the first of what will be a global network of OTEC-powered Ecovillages and Affordable Communities in developing countries. We are focused on the US Virgin Islands, Puerto Rico, and the Caribbean. We call our first sustainable community the OTEC EcoVillage."

About OTEC and SWAC

Ocean Thermal Energy Conversion (OTEC) is a game-changing technology that leverages the temperature difference in the ocean between cold deep water and warm surface water in the tropics and subtropics to generate unlimited energy without the use of fossil fuels. It boasts a competitive advantage over alternative sources of electricity production regarding accessibility, predictability, affordability, and emissions. Seawater Air Conditioning (SWAC) technology produces air conditioning without the use of chemical agents. Acting alone, SWAC can reduce electricity usage by up to 90% when compared to traditional air conditioning systems. Both technologies can be configured to produce fresh water for drinking, agriculture, and economic development. Supporting the efforts for more sustainable living in developing nations around the world, OTE's OTEC and SWAC technologies drastically reduce the output of carbon emissions and produce renewable base-load (24/7/365) energy without the use of fossil fuels. This translates to slowing down climate change and cleaning up our atmosphere for a healthier planet for all.

About Ocean Thermal Energy Corporation

Ocean Thermal Energy Corporation (OTE) has over 25 years of experience and unrivaled know-how of optimal designs and economics of commercial Ocean Thermal Energy Conversion (OTEC) and Seawater Air Conditioning (SWAC) systems. OTE is an environmentally-focused project developer, using the skills and many years of experience of its Marine Scientists, Oceanographers and Engineers to design, finance, build, own, and operate commercial scale, cost-effective, and scalable OTEC and SWAC systems worldwide.

OTE concentrates on emerging markets, which provide the opportunity to bring improved conditions to parts of our world devastated by a shortage of water and high-energy costs. These opportunities provide very attractive returns. Our technologies offer practical solutions to mankind's three oldest and most fundamental needs: clean drinking water, plentiful food, and sustainable, affordable energy without the use of fossil fuels.

For additional information regarding OTE, please visit the company's website at www.otecorporation.com.

About the OTEC EcoVillage

OTE is in the advanced planning stages for a global network of carbon-neutral, high-quality eco-resorts consisting of sustainable homes, condominiums, retail spaces, and EcoHotel. Use of fossil-fuels is not allowed at the OTEC EcoVillage. The first EcoVillage is targeted for the US Virgin Islands where OTE has received regulatory approval for its 100% fossil-fuel free Ocean Thermal Energy Conversion (OTEC) system which will supply both the electricity and the water for the EcoVillage community. EcoVillage will be the world's first community powered entirely without the use of fossil fuels and using the natural resources of the ocean to deliver base-load electricity and water 24/7/365 days a year. EcoVillage will be a model for the future, living in harmony with nature supplying affordable clean power and water for communities, and exemplifying best practices in ecologically responsible developments.

About the Sky Institute for the Future

The mission of the Sky Institute is to implement pragmatic and sustainable strategies in design, energy, town planning, and agricultural production, and to create and incubate transformational ideas that will nourish healthy communities and educate current and future generations.

Safe Harbor Statement

Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding OTE's plans or expectations constitute forward-looking statements. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, without limitation: a decision by any of the interested parties to not enter into a definitive power purchase agreement; the inability of the parties to successfully negotiate and enter into a definitive power purchase agreement; the inability of the parties to meet every closing condition contained in such definitive power purchase agreement and the protection and maintenance of OTE's intellectual property rights.

Additional information and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in OTE's periodic reports filed with the Securities and Exchange Commission under the heading "Risk Factors." Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change.

Except as required by law, OTE disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.

Ocean Thermal Energy Corporation Contact:

Becky Wink Cooper
becky.cooper@otecorporation.com
717-517-4110

SOURCE: Ocean Thermal Energy Corporation

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