Ocean Power Technologies expands global reseller network - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) earlier this week discussed its recent global expansion strategy and operational resilience in an interview with Proactive. The company said it continues to pursue “responsible geographic expansions,” focusing on establishing partnerships with regional resellers and service providers.
Ocean Power Technologies wins new international government order for WAM-V system
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has secured a new contract with an international government client for the near-term delivery of a fully integrated Wave Adaptive Modular Vessel (WAM-V). The agreement marks another milestone in OPT's regional expansion strategy and highlights growing demand for its low-carbon marine power, data, and service solutions, the company said.
Ocean Power Technologies partners with Elektron SAS to expand reach in Latin America
Ocean Power Technologies Inc (NYSE-A:OPTT) announced the signing of a strategic reseller agreement with Elektron SAS, a Colombia-based company specializing in hydrographic and oceanographic instrumentation. As part of the agreement, Elektron has committed to $4 million in purchases of OPT's intelligent maritime solutions, including its WAM-V USVs, PowerBuoy, and AI-driven Merrows platform.
Ocean Power Technologies expands US reach through reseller deal with Grava Hydro
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has signed a reseller agreement with Grava Hydrographic Solutions, strengthening its US distribution network for its Wave Adaptive Modular Vessels (WAM-V) unmanned surface vehicles. Grava Hydro, a US-based expert in hydrographic and oceanographic equipment integration, will now support the availability, sales, and servicing of OPT's WAM-V platforms across the country.
Ocean Power Technologies says US-based supply chain shields it from global disruptions
Ocean Power Technologies Inc (NYSE-A:OPTT) said on Monday it remains fully operational and does not expect any material impact from global supply chain disruptions, citing its majority domestic supply chain and US-based workforce. The New Jersey-based company, which develops ocean energy solutions for commercial and defense sectors, said its inventory levels and procurement processes remain stable despite international logistics constraints and raw material availability issues.
Ocean Power Technologies secures new contract wins in US, Latin America - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Philipp Stratmann talked with Proactive about recent strategic developments for the maritime technology company, including new contract wins in the United States and Latin America. Proactive: Alright, welcome back inside our Proactive newsroom.
Ocean Power Technologies expands into new sector with Latin America WAM-V sale
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the sale of a Wave Adaptive Modular Vessel (WAM-V) to a Latin American customer for use in the onshore mining industry. This transaction marks a significant step in the company's expansion into new sectors, the company said on Tuesday.
Ocean Power Technologies wins PowerBuoy contract for East Coast deployment
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has secured a contract to deliver a PowerBuoy for immediate deployment on the East Coast of the United States. The contract allows for the future integration of surface and subsea sensors, expanding the buoy's capabilities.
Ocean Power Stock Falls on Wider Y/Y Loss in Q3, Lower Sales
OPTT reports a wider Q3 loss on lower revenue. Its shares fall 22.7% post-earnings despite a record backlog and reduced cash burn.
Ocean Power Technologies backlog grows amid international expansion plans
Ocean Power Technologies Inc (NYSE-A:OPTT) said it is sharpening its focus on defense and international expansion as it works to accelerate revenue growth in 2025. The company's backlog surged to $7.5 million, a significant increase from $3.3 million in the same period last year, primarily driven by new partnerships in Latin America, including a $2 million order for Next Generation PowerBuoys and $3 million in WAM-V purchases.
Ocean Power Technologies secures European contract for WAM-V system
Ocean Power Technologies Inc (NYSE-A:OPTT) said on Thursday it has secured a contract with a new European offshore services provider for the near-term delivery of a fully integrated WAM-V system. The deal marks the company's expansion into the European Union, where it is working with end customers and resellers.
Ocean Power Technologies to deploy PowerBuoy for maritime defense testing
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it received a binding letter of intent to deploy a PowerBuoy for an undisclosed customer to demonstrate the system's survivability and suitability for multidomain defense and security applications in extreme sea conditions. This follows a teaming agreement signed last year with a major international defense contractor to provide its Merrows suite of solutions in select regions.
