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.
Ocean Power Technologies showcases maritime defense solutions in UAE
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has demonstrated its defense and security solutions in Abu Dhabi during NAVDEX, a showcase of the latest maritime technologies, in collaboration with UAE-based Remah International Group (RIG). The demonstrations featured OPT's WAM-V Unmanned Surface Vehicles (USVs), which are equipped with underwater sensors and can integrate with aerial drones.
Ocean Power Technologies to showcase maritime solutions at NAVDEX
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it will demonstrate its WAM-V Unmanned Surface Vehicles (USVs) at NAVDEX in Abu Dhabi, in collaboration with its UAE-based partner, Remah International Group (RIG). This follows RIG's appointment as OPT's regional distributor for defense and security solutions in late 2024.
Ocean Power Technologies secures $2M order for PowerBuoys
Ocean Power Technologies Inc (NYSE-A:OPTT) it had secured an initial $2 million in purchase orders from Latin America for its Next Generation PowerBuoys. The PowerBuoys, which generate energy through a combination of wave, solar, and wind power, are designed for long-term deployment in coastal and deep ocean environments.
Ocean Power Technologies hails multi-day autonomous vehicle demonstration
Ocean Power Technologies Inc has announced a successful multi-day demonstration of its WAM-V autonomous maritime surface vehicle in California. Equipped with a complete seabed survey payload, the WAM-V 22 completed a major set of offshore exercises over several days without needing to return to base.
