Ocean Power Technologies expands UAE partnership with Unique Group through new services agreement
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has signed a Master Services Agreement (MSA) with Unique Group, expanding its existing partnership in the United Arab Emirates (UAE). The agreement formalizes the companies' collaboration first announced in July 2024, and designates Unique Group as OPT's execution partner for all non-defense WAM-V unmanned surface vehicle (USV) projects in the UAE.
Ocean Power Technologies upgrades Merrows Maritime Domain Awareness Solution
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has introduced an upgraded version of its Merrows Maritime Domain Awareness Solution (MDAS), enhancing the system's role as an intelligence, surveillance, and reconnaissance (ISR) node. The company said the update improves the system's performance, stability, and security, while enabling autonomous collaboration across surface, subsurface, and aerial platforms.
Ocean Power Technologies opens office at AUVSI headquarters in Washington, DC
Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has opened a new office at the Association for Uncrewed Vehicle Systems International (AUVSI) headquarters in Washington, DC, expanding its US presence and strengthening ties with the uncrewed systems industry. The company said the office underscores its commitment to advancing uncrewed systems operations and national policy engagement.
Ocean Power Technologies CEO urges New Jersey to back marine energy sector
Ocean Power Technologies Inc (NYSE-A:OPTT) has called on New Jersey lawmakers to strengthen support for the state's emerging marine energy industry, citing its potential to create jobs, bolster climate resilience and enhance national security. Speaking at a joint hearing of the New Jersey Assembly Environment, Natural Resources, and Solid Waste Committee and the Senate Environment and Energy Committee, OPT CEO Philipp Stratmann said the state's coastline, workforce and industrial base position it to lead the US in tidal and wave energy.
Ocean Power Technologies, Inc. (OPTT) Q4 2025 Earnings Conference Call Transcript
Ocean Power Technologies, Inc. (NYSE:OPTT ) Q2 2025 Earnings Call July 25, 2025 9:00 AM ET Company Participants Robert Powers - Senior VP, CFO & Principal Accounting Officer Philipp Stratmann - CEO, President & Director Conference Call Participants Glenn Mattson - Ladenburg Thalmann & Co. Inc., Research Division Peter Gastreich - Water Tower Research LLC Operator Good morning, and welcome to the Ocean Power Technologies Fourth Quarter and Full Fiscal Year 2025 Earnings Conference Call. A webcast of this call is also available and can be accessed by a link on the company's website at www.oceanpowertechnologies.com.
Ocean Power Technologies grows revenue and backlog in fiscal 2025
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced its financial results for the fiscal year ended April 30, 2025, reporting a 6% jump in annual revenue to $5.9 million. OPT's backlog surged 155% to $12.5 million, while the pipeline of potential projects grew to $137.5 million, an 88% year-over-year increase.
Ocean Power Technologies installs PowerBuoy system for Naval Postgraduate School
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the successful installation of its contracted PowerBuoy system for the Naval Postgraduate School (NPS). The system is now deployed in Monterey Bay and features OPT's latest PowerBuoy technology integrated with its proprietary Merrows suite.
Ocean Power Technologies secures new patent for offshore charging system - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Philipp Stratmann talked with Proactive about the company's newly awarded patent for integrated offshore charging systems. Stratmann explained how the technology will allow autonomous surface and underwater vehicles to recharge and transfer data at sea, significantly improving mission endurance and operational flexibility.
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.
