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 (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 AI-capable Merrow PowerBuoy

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 completes unmanned surface vehicle for Latin America customer

MONROE TOWNSHIP, N.J., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has achieved a major contractual milestone and completed the build of a new unmanned surface vehicle for delivery to a survey customer in Latin America.

Ocean Power Technologies Completes New WAM-V for Immediate Delivery to Latin America

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 wraps up long-term PowerBuoy deployment off New Jersey coast

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 secures new contract with Naval Postgraduate School to enhance maritime awareness

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 CEO recaps busy summer of milestone achievements - ICYMI

MONROE TOWNSHIP, N.J., Aug. 21, 2024 (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 2025 first quarter results for the period ended July 31, 2024 after the market closes on Monday September 16, 2024.

Ocean Power Technologies to Report Fiscal 2025 First Quarter Results on September 16, 2024

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 expands global footprint with new reseller agreements

MONROE TOWNSHIP, N.J., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, is pleased to announce the signing of the latest of four new reseller agreements targeted at supporting global critical services.

Ocean Power Technologies Continues Global Expansion with Signing of Strategic Reseller Agreements in All Key Continents

MONROE TOWNSHIP, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today reminds stockholders that a Special Meeting of the Stockholders of OPT will be held at 9 a.m. Eastern time on August 30, 2024, in virtual format only at www.cesonlineservices.com/optt24_vm, for the purpose of voting on proposals to (i) approve an amendment to OPT's Certificate of Incorporation to increase the number of authorized shares of common stock, par value $.001 per share, from 100,000,000 to 200,000,000, and (ii) approve an adjournment of the Special Meeting from time to time, if necessary or appropriate (as determined in good faith by the Board or a committee thereof), to solicit additional proxies if there are not sufficient votes in favor of the charter amendment proposal.

Ocean Power Technologies Issues Stockholder Vote and Meeting Reminder

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.

Ocean Power Technologies files patent for docking and recharging buoy technology

MONROE TOWNSHIP, N.J., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the filing of a patent pending for its groundbreaking docking and recharging buoy technology, specifically designed for the Wave Adaptive Modular Vessel (WAM-V) Unmanned Surface Vehicle (USV). This advanced system has already been successfully demonstrated, showcasing its potential to revolutionize the operational efficiency of autonomous marine vessels.

Ocean Power Technologies Announces Patent Pending on Innovative Docking and Recharging Buoy Technology

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has signed a reseller agreement with Geos Telecom, a maritime communication and navigation solutions provider based in Costa Rica. The deal includes the immediate sale of a Wave Adaptive Modular Vessel (WAM-V), the company said.

Ocean Power Technologies inks reseller agreement with Geos Telecom

EASTON, PA / ACCESSWIRE / July 26, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company and a large shareholder of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company" or "OPT"), issues the following statement to OPT shareholders: On July 5, OPT filed a proxy statement calling for a special meeting of shareholders on August 30, 2024, asking shareholders to approve increasing the Company's authorized shares to 200 million, up from 100 million. On July 25, 2025, OPT announced Fiscal 2024 financial results revealing that it lost $27.4 million in fiscal 2024 versus $26.3 million in fiscal 2023.

Paragon Technologies Recommends Ocean Power Shareholders Vote AGAINST the Company's Plan to Increase Its Authorized Shares and Hold the Board Accountable for Its Wasteful Spending That Leads to Increasing Losses

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q4 2024 Earnings Conference Call July 26, 2024 9:00 AM ET Company Participants Robert Powers - Senior Vice President & Chief Financial Officer Philipp Stratmann - President & Chief Executive Officer Conference Call Participants Jeff Grampp - Alliance Global Partners Shawn Severson - Water Tower Research Peter Ruggiere - Dawson James Securities Operator Good morning and welcome to the Ocean Power Technologies Fourth Quarter and Full Fiscal Year 2024 Earnings Conference Call. A webcast of this call is also available and could be accessed by a link on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q4 2024 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has reported significant year-over-year improvements in revenue and profits for fiscal 2024. For the year ended April 30, 2024, the provider of intelligent maritime solutions saw its revenue increase by 102% to $5.5 million from $2.7 million in fiscal 2023.

Ocean Power Technologies doubles revenues in ‘landmark' fiscal 2024

MONROE TOWNSHIP, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal fourth quarter (“4Q24”) and full-year ended April 30, 2024 (“FY24”).

Ocean Power Technologies, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Results

Ocean Power Technologies Inc (NYSE-A:OPTT) is seeing continued strong demand for its AI-powered Maritime Domain Awareness Solution Merrows, this week announcing it has won a contract for the delivery of a PowerBuoy equipped with the technology in the Middle East. CEO Philip Stratmann told Proactive in an interview that the announcement builds on its earlier announcement it was selected as a preferred supplier for its Merrows-equipped buoys in the region.

Ocean Power Technologies makes waves with key maritime domain awareness solution contract - ICYMI

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Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has won a contract in the Middle East for the delivery of a PowerBuoy equipped with Merrows – the company's AI-capable Maritime Domain Awareness Solution. The contract is expected to generate revenues in the current quarter, although specific details remain confidential between the parties.

Ocean Power Technologies lands new contract in Middle East

MONROE TOWNSHIP, N.J., July 15, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has been awarded a contract for immediate delivery of a PowerBuoy equipped with Merrows, its Artificial Intelligence capable Maritime Domain Awareness Solution, in the Midde East.

Ocean Power Technologies Awarded Contract for Delivery of AI Capable Merrows Buoy in the Middle East

MONROE TOWNSHIP, N.J., July 12, 2024 (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 2024 fourth quarter results for the period ended April 30, 2024 after the market closes on Thursday July 25, 2024.

Ocean Power Technologies to Report fiscal 2024 Fourth Quarter Results on July 25th, 2024

OPT to Discuss Investing in Growth and Commercialization Opportunities OPT to Discuss Investing in Growth and Commercialization Opportunities

Ocean Power Technologies to Participate in Fireside Chat with Water Tower Research on July 17, 2024

Ocean Power Technologies Inc (NYSE-A:OPTT) has entered into a Memorandum of Understanding (MOU) with AltaSea at the Port of Los Angeles to explore opportunities in the ‘Blue Economy.' The "Blue Economy" refers to sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems.

Ocean Power Technologies and AltaSea forge partnership to advance sustainable ocean initiatives

Ocean Power Technologies Inc (NYSE-A:OPTT) has entered into a memorandum of understanding (MOU) with AltaSea, an ocean technology campus at the Port of Los Angeles. The partnership aims to explore opportunities within the ‘Blue Economy', focusing on supporting companies that develop and deploy marine energy technologies.

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