Ocean Power Technologies ships WAM-Vs to US government
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has shipped multiple of its unmanned surface vehicles (WAM-Vs) to a Department of the US Government as part of a previously disclosed sole source contract. The provider of intelligent maritime solutions said the delivery of the vehicles will lead to revenue recognition.
Ocean Power Technologies signs MOU with SENAI to explore blue economy opportunities in Brazil
Ocean Power Technologies Inc (NYSE-A:OPTT) said it has signed a Memorandum of Understanding (MOU) with Brazil's Serviço Nacional de Aprendizagem Industrial (SENAI Innovation Institute for Virtual Production Systems from Firjan). SENAI is a Brazilian organization that provides technical education and training for the industrial sector.
Ocean Power Technologies, Inc. (OPTT) Q1 2025 Earnings Call Transcript
Ocean Power Technologies, Inc. (NYSE:OPTT ) Q1 2025 Earnings Conference Call September 17, 2024 9:00 AM ET Company Participants Robert Powers - Senior Vice President and Chief Financial Officer Philipp Stratmann - President and Chief Executive Officer Conference Call Participants Jeff Grampp - Alliance Global Partners Shawn Severson - Water Tower Research Operator Greetings and welcome to the Ocean Power Technologies Fiscal Year 2025 Q1 Earnings Conference Call. At this time all participants are in a listen-only mode.
Ocean Power Technologies expands pipeline, progresses towards profitability during fiscal Q1
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it made significant further progress towards achieving profitability during the fiscal first quarter of 2025, notably decreasing its operating expenses, reducing its operating loss, and lowering cash burn. The provider of intelligent maritime solutions said it reduced its operating expenses by 39% year-over-year to $4.9 million, attributed to its restricting and streamlining efforts.
Ocean Power Technologies wins $1M follow-on contract after navy project success
Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has secured a $1 million follow-on contract as a subcontractor to EpiSci following the successful demonstration of its autonomous surface vehicle technologies in the U.S. Navy's Mission Autonomy Proving Grounds (MAPG) under Project Overmatch.
Ocean Power Technologies completes AI-capable Merrow PowerBuoy
Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has achieved a key milestone with the completion of its AI-capable Merrows™ PowerBuoy. The system, which is designed for solar and wind-powered operation, is ready for delivery to a customer in the Middle East.
Ocean Power Technologies completes unmanned surface vehicle for Latin America customer
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed the build of an unmanned surface vehicle for a survey customer in Latin America. The provider of intelligent maritime solutions said the delivery of this vehicle of part of its previously announced expansion into the region, working with end customers and resellers.
Ocean Power Technologies wraps up long-term PowerBuoy deployment off New Jersey coast
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed more than four months of offshore testing of its Next Generation PowerBuoy in the Atlantic Ocean off New Jersey. The PowerBuoy is solar and wind power capable and equipped with the company's proprietary AI-enabled ocean intelligence platform Merrows.
Ocean Power Technologies secures new contract with Naval Postgraduate School to enhance maritime awareness
Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has secured another contract from the Naval Postgraduate School (NPS) in Monterey, California. This revenue-generating contract builds on a previous collaboration that integrated AT&T 5G technology into OPT's PowerBuoy.
Ocean Power Technologies CEO recaps busy summer of milestone achievements - ICYMI
Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Phillip Stratmann joined Proactive to discuss the provider of intelligent maritime solutions and services' recent global expansion and other developments. He highlighted the company's ongoing projects in key regions such as the Middle East and Latin America, where demand for their advanced buoy systems and autonomous vehicles continues to grow.
Ocean Power Technologies expands global footprint with new reseller agreements
Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has signed four new reseller agreements for its intelligent maritime solutions which will support global critical services. The company said the agreements include opportunities for partnering with allied nations in areas such as the South China Sea and previously announced efforts to serve commercial markets in Latin America and the Middle East.
Ocean Power Technologies files patent for docking and recharging buoy technology
Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has filed a patent for its docking and recharging buoy technology specifically designed for its Wave Adaptive Modular Vessel (WAM-V) Unmanned Surface Vehicle (USV). The provider of intelligent maritime solutions said its system has already been demonstrated successfully and has the potential to revolutionize the operational efficiency of autonomous marine vessels.
