Ocean Power Technologies selected by US government for further assessment of maritime drone technology
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has been selected by the US government for further engagement following a competitive capability assessment of its WAM-V unmanned surface vehicle (USV), a maritime drone platform. The company said the notification marks another step in its ongoing engagement with the US government but does not represent a contract award or procurement decision.
Ocean Power Technologies deepens European maritime security push
Ocean Power Technologies Inc (NYSE-A:OPTT) has expanded its maritime security work across Europe, completing customer training and drone handovers in Italy and Greece. The New Jersey company, which develops autonomous maritime systems and offshore power solutions, said the activities supported deployment of its systems by international customers over recent weeks.
Ocean Power Technologies CEO Philipp Stratmann on growing ocean monitoring demand - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Philipp Stratmann talked with Proactive about the company's latest deployment with Rutgers University and how its buoy technology is helping modernize ocean sensing infrastructure while creating new opportunities across research, security and environmental monitoring applications. Ocean Power Technologies recently completed a deployment for Rutgers University, replacing a failing cable endpoint at a long-running ocean and underwater sensing laboratory with one of the company's buoy systems.
Ocean Power Technologies deploys PowerBuoy for Rutgers, receives maritime drone order from Stevens Institute
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has deployed and commissioned a PowerBuoy system for Rutgers University off the coast of New Jersey and received an order for a WAM-V unmanned surface vehicle from Stevens Institute of Technology. The Rutgers project, supported by the New Jersey Economic Development Authority, is fully installed and operational, according to the company.
Ocean Power Technologies reports successful PowerBuoy field performance for US Coast Guard
Ocean Power Technologies Inc (NYSE-A:OPTT) has reported successful power generation from its MERROWS-equipped PowerBuoy system deployed off the coast of San Diego in support of US Coast Guard maritime domain awareness operations. The system has generated close to 0.5MWh of energy to date and has maintained operational performance in an active maritime environment.
Ocean Power Technologies prices $10M registered direct offering
Ocean Power Technologies Inc (NYSE-A:OPTT) has entered into securities purchase agreements with institutional investors for a registered direct offering of 25 million shares of common stock at $0.40 per share, the marine energy company said on Friday. The offering, priced at a premium to the previous day's closing price, includes common warrants to purchase up to 25 million additional shares.
Ocean Power Technologies expands defense engagement efforts in Europe
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it is expanding its international defense engagement activities across Europe, highlighting recent initiatives in Poland and Norway focused on maritime security, autonomous systems and maritime domain awareness. The company, which provides marine power, data and service solutions, said it recently met with representatives from the Polish Naval Academy and stakeholders in Poland's defense sector to discuss maritime security needs and the potential role of autonomous, renewable-powered maritime systems in supporting regional defense and infrastructure protection efforts.
Ocean Power Technologies scales PowerBuoy fleet in the US, expands autonomous vessels overseas
Ocean Power Technologies Inc (NYSE-A:OPTT) has expanded its global footprint, scaling US PowerBuoy deployments to five systems and adding autonomous surface vehicles overseas. In the US, three of the new PowerBuoy systems are supporting Department of Homeland Security activities, with a fourth backing US Navy research and a fifth deployed with a US-based research institution.
Ocean Power Technologies demonstrates autonomous offshore docking and charging system
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced progress in its offshore charging and autonomous maritime operations, including a successful demonstration of autonomous docking and charging capabilities for its WAM-V autonomous surface vehicle. The Monroe Township, New Jersey-based company said the system enables the WAM-V to approach a dock, secure itself, recharge, and redeploy without human intervention, addressing a key operational challenge for long-duration offshore autonomous missions.
Ocean Power Technologies secures US Homeland Security contract – ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) earlier this week outlined rapid progress in deploying its power and monitoring systems, as CEO Philipp Stratmann highlighted accelerating demand for ocean security solutions in an interview with Proactive. Stratmann said the company had moved from contract award to deployment with the US Homeland Security Department, delivering its first operational system in less than four months.
Ocean Power Technologies deploys first PowerBuoy system for US Homeland Security operations
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the deployment of its first PowerBuoy system under a contract with the US Department of Homeland Security, marking an operational milestone for the company's offshore monitoring technology. The system has been installed off the coast of California and is intended to support maritime domain awareness efforts for the United States Coast Guard.
Ocean Power Technologies ships first PowerBuoy to US Department of Homeland Security - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Philipp Stratmann talked with Proactive about the company's first shipment under its $6.5 million contract with the US Department of Homeland Security, marking a major operational milestone. Proactive: Welcome back inside our Proactive newsroom.
