Ocean Power Technologies

Ocean Power Technologies, Inc. engages in commercializing proprietary systems that generate electricity predominantly by harnessing the renewable energy of ocean waves. It offers PB3 PowerBuoy, which generates electricity by harnessing the renewable energy of ocean waves. It operates through the following geographical segments: North and South America, Europe, and Asia and Australia. The company was founded by George W. Taylor on April 19, 1984 and is headquartered in Monroe Township, NJ.

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Ocean Power Technologies reports fiscal growth amidst shareholder challenges

Ocean Power Technologies (OPTT) showcased technological achievements and strategic partnerships in fiscal 2024 despite financial challenges from a dissident shareholder.
With a focus on achieving profitability by the second half of calendar 2025, OPTT aims to leverage cost optimization and operational efficiencies for future success.
Dr. Stratmann's emphasis on growth trajectory, market opportunities, and shareholder value underscores OPTT's commitment to driving innovation and value creation.

Ocean Power Technologies (OPTT) reports strong Q1 results and advances in renewable energy technology

Ocean Power Technologies (OPTT) delivered improved financial performance in Q1 '25 with revenue growth, cost reductions, and a strengthened backlog, signaling positive momentum.
The company's focus on innovation, strategic partnerships, and operational efficiency positions it well for future growth and market leadership in the renewable energy sector.
While OPTT faces challenges in maintaining profitability and cash flow, opportunities lie in leveraging its technological advancements and market demand to drive sustainable growth.

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Ocean Power Technologies, Inc. (OPTT) CEO Philipp Stratmann on Q2 2022 Results - Earnings Call Transcript

Investor Conference Call and Webcast on December 15, 2021, at 9:00 A.M. ET

Ocean Power Technologies Announces Second Quarter Fiscal 2022 Results

MONROE TOWNSHIP, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced Robert P. (Bob) Powers has been appointed by the Company's Board of Directors as Senior Vice President and Chief Financial Officer, effective December 13, 2021.

Ocean Power Technologies Appoints Robert Powers as New CFO

MONROE TOWNSHIP, N.J., Dec. 07, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that the Board of Directors (“the Board”) of the Company has determined to postpone the 2021 Annual Meeting of Stockholders from December 13, 2021, to December 14, 2021, with a new start time of 2 p.m. Eastern. The record date of October 15, 2021, remains unchanged.

Ocean Power Technologies Reschedules 2021 Annual Meeting of Stockholders

Ocean Power Technologies, Inc. (NYSE: OPTT) closed on an acquisition of Marine Advanced Robotics, Inc. (MAR), a Richmond, California-based developer and manufacturer of autonomous surface vehicles (ASVs). The company paid $11.0 million at closing, consisting of $4.0 million in cash and $7.0 million in common stock.

Ocean Power Technologies Acquires Marine Advanced Robotics For $11M

OPT Expands Offshore Intelligence Capabilities Through Addition of Autonomous USV Services OPT Expands Offshore Intelligence Capabilities Through Addition of Autonomous USV Services

Ocean Power Technologies Acquires Marine Advanced Robotics

MONROE TOWNSHIP, N.J., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal year 2022 second quarter results for the period ending October 31, 2021, after the market closes on Tuesday, December 14, 2021.

Ocean Power Technologies to Report Fiscal Year 2022 Second Quarter Results on Tuesday, December 14, 2021

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Ocean Power Technologies Announces First Quarter Fiscal 2022 Results

Ocean Power Technologies Inc (NYSE: OPTT) has been selected by the U.S. Department of Energy (DOE) to further the development of a next-generation wave energy converter.  The company will receive up to $197,203 to perform a preliminary conceptual design and feasibility study of a modular and scalable small-scale Mass-on-Spring Wave Energy Converter (MOSWEC) PowerBuoy for powering autonomous ocean monitoring systems.

US DOE Selects Ocean Power Technologies To Support Development Of Wave Energy Converter Concept

MONROE TOWNSHIP, N.J., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon ocean energy solutions, today announced that the U.S. Department of Energy (DOE) selected the Company to further the development of a next-generation wave energy converter.

Ocean Power Technologies Announces DOE Award Supporting Development of Next Generation Wave Energy Converter Concept

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Investor Conference Call and Webcast on July 20, 2021, at 11:00 A.M. ET Investor Conference Call and Webcast on July 20, 2021, at 11:00 A.M. ET

Ocean Power Technologies Announces Fourth Quarter and Full-Year Fiscal 2021 Results

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MONROE TOWNSHIP, N.J., June 23, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE American: OPTT), a leader in innovative and cost-effective low carbon ocean energy solutions, today announced the Company's addition to the Russell Microcap® Index, effective after the market opens on June 28, 2021. FTSE Russell disclosed OPT's inclusion in its annual reconstitution additions.

Ocean Power Technologies Added to Russell Microcap® Index

Philipp Stratmann Appointed as President and CEO, and Matthew Shafer Promoted to Senior Vice President, CFO and Treasurer

Ocean Power Technologies Announces Executive Management Changes

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MONROE TOWNSHIP, N.J., June 08, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that it will change its listing from the Nasdaq Capital Market to the NYSE American stock exchange.

Ocean Power Technologies Announces Planned Transfer of Nasdaq Listing to NYSE American Stock Exchange

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