Ocean Power Technologies secures US patent allowance for floating marine charging system
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that the United States Patent and Trademark Office has issued a Notice of Allowance for the company's US patent application covering a system designed for autonomous, floating marine vehicle charging, titled “System and Method for Vehicle Charging.” The technology enables electric vessels, including uncrewed surface vehicles, to locate, dock with, and recharge from a floating platform while at sea.
Ocean Power Technologies names retired Navy captain Jason Weed as senior VP of commercial sales
Ocean Power Technologies Inc (NYSE-A:OPTT) said on Wednesday it has appointed retired US Navy Captain Jason Weed as its new senior vice president of commercial sales. Weed, who brings over 15 years of executive-level experience in maritime and technology organizations, most recently served as a senior business developer at Leidos' Maritime Systems Division.
Zacks Initiates Coverage of Ocean Power With Neutral Recommendation
Discover why Zacks, being the first on Wall Street to initiate the stock coverage, rates OPTT as "Neutral." Explore how its AI-driven maritime tech shows promise, but execution and financial risks linger.
Ocean Power Technologies recognized as AUVSI trusted operator
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has been named one of the initial certified operators under the Association for Uncrewed Vehicle Systems International (AUVSI) Trusted Uncrewed Maritime Systems (UMS) Operator Program. The certification program, developed by AUVSI in partnership with industry stakeholders, sets a standardized benchmark for training, proficiency, and safety in the operation of uncrewed maritime systems.
Ocean Power Technologies expands year-round testing to both US coasts
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed its first sea trials of its WAV-V 22 autonomous surface vehicle for a customer with significant operations in Sub-Saharan Africa. The trials were conducted at Ocean Power Technologies' newly permitted test site in Southern New Jersey, following site visits and operational reviews by the US Coast Guard.
Ocean Power Technologies wins contract to deliver unmanned vehicles to Allied Forces
Ocean Power Technologies Inc (NYSE-A:OPTT) said on Monday it has been awarded a contract to supply multiple unmanned surface vehicles to Allied Forces. The agreement, which includes the delivery of WAM-V vehicles, integrated sensors, and operational services under a contractor-owned, contractor-operated model, is scheduled for fulfillment in late spring 2025.
Ocean Power Technologies ships Merrows-enabled PowerBuoy for defence demonstration
Ocean Power Technologies Inc (NYSE-A:OPTT) has shipped a Merrows-capable PowerBuoy as part of a demonstration aimed at validating the system's survivability and suitability for defense and security applications, including surface and subsea monitoring. The shipment marks a key milestone following the company's teaming agreement signed last year with a major international defense contractor.
Ocean Power Technologies ships autonomous WAM-V for extended offshore operations
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has shipped a Wave Adaptive Modular Vessel (WAM-V) 22' vessel equipped with autonomous capabilities designed for extended offshore surveys. The company said the vessel can operate continuously for multiple days without returning to base, supporting 24/7 payload operations.
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.
