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.

Earnings data Q4 2021

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Earnings data Q3 2025

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.

Ocean Power Technologies (OPTT) achieves record revenue and eyes profitability in Q4 2025

Ocean Power Technologies (OPTT) reported strong financial performance in Q2 2025, with record revenue and reduced net losses. Strategic partnerships and market expansion efforts are driving growth, positioning the company for profitability by Q4 2025. Analysts see opportunities in global expansion and recurring revenue models for OPTT.

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Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has been selected as preferred supplier for a PowerBuoy equipped with its AI-Maritime Domain Awareness Solutions Merrows for immediate delivery for an opportunity in the Middle East.   The provider of intelligent maritime solutions and services said the contract, once finalized, will generate revenues in the current quarter.

Ocean Power Technologies named preferred supplier for Merrow buoy in the Middle East

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the launch of its Global 24/7 Service Support which will offer its customers round-the-clock support.  The provider of intelligent maritime solutions and services said the new offering will allow its customers to access 24/7 support to maintain their operations around the globe.

Ocean Power Technologies expands services with new 24/7 global support offering

MONROE TOWNSHIP, N.J., June 17, 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 launched its Global 24/7 Service Support (“Services”).

Ocean Power Technologies Launches Global 24/7 Service Support Offering

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it had delivered the first set of new unmanned surface vehicles (USVs) to Sulmara, as part of a previously announced $1.6 million contract. The delivery triggers the commencement of lease payments, OPT said in a statement.

Ocean Power Technologies delivers first unmanned surface vehicles to Sulmara

EASTON, PA / ACCESSWIRE / June 7, 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. On April 28th Paragon announced its willingness to consider investing up to $3 million in non-dilutive preferred equity in OPT.

Ocean Power Fails to Engage in Good Faith with Paragon Creating Going Concern Issues and Risk for the Company and Its Shareholders

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has been awarded a contract for the immediate delivery of a Wave Adaptive Modular Vessel (WAM-V) to an offshore construction contractor. The provider of intelligent maritime solutions and services said the vehicle will provide survey services for an offshore dredging project in Sub-Saharan Africa.

Ocean Power Technologies wins contract for unmanned surface vehicle with offshore construction contractor

MONROE TOWNSHIP, N.J., June 05, 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 a WAM-V for immediate delivery to an Offshore Construction Contractor.

Ocean Power Technologies Awarded Contract for Immediate Delivery of Unmanned Surface Vehicle to Offshore Construction Contractor

Ocean Power Technologies Inc (NYSE-A:OPTT) recently completed a demonstration of several simultaneously deployed Wave Adaptive Modular Vehicles (WAM-Vs) for a department of the US Government. In addition to triggering immediate revenue, the demonstration showcased the capabilities of the company's technology to both current and future customers.

Ocean Power Technologies CEO talks unmanned surface vehicle demonstration milestone

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the completion of engineering for its Merrows solution to be deployed in hot climates. The company noted that Merrows, an artificial intelligence-powered Maritime Domain Awareness Solution, has integrated lessons from current and previous deployments, including in Bahrain.

Ocean Power Technologies ready to deploy AI solution in hot climates

Ocean Power Technologies Inc (NYSE-A:OPTT) announced it concluded the operation of several simultaneously deployed Wave Adaptive Modular Vehicles (WAM-Vs) for a Department of the US Government, a major contractual milestone with immediate revenue recognition. The provider of innovative and cost-effective low-carbon marine power, data, and service solutions said this milestone builds on other recent multi-system deliveries and contract awards.

Ocean Power Technologies achieves major milestone with WAM-Vs deployment for government department

MONROE TOWNSHIP, N.J., May 28, 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 completed a major contractual milestone and concluded operation of several simultaneously deployed WAM-Vs for a Department of the US Government.

Ocean Power Technologies Completes Operation with Multiple Unmanned Surface Vehicles for US Government

Ocean Power Technologies Inc (NYSE-A:OPTT) has successfully publicly demonstrated capabilities of its counter-unmanned underwater vehicle. Ocean Power said on Tuesday it had showcased the vehicle at events held by the Navy League and Association for Uncrewed Vehicle Systems International.

Ocean Power Technologies displays unmanned underwater vessel capability

Results of Successful Demonstrations will be presented at the International Mine Warfare Technology Symposium Results of Successful Demonstrations will be presented at the International Mine Warfare Technology Symposium

Ocean Power Technologies Successfully Demonstrates Counter Unmanned Underwater Vehicle Capability

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it is nearing 15MWh of renewable energy production from its family of PowerBuoys, its marine power stations that harvest energy from waves. The provider of intelligent maritime solutions and services said that the recent launch of its Next Generation PowerBuoy off the coast of New Jersey has accelerated its average energy production by combining solar, wind, and wave energy capabilities.

Ocean Power Technologies celebrates renewable energy production milestone

MONROE TOWNSHIP, N.J., May 13, 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 is approaching 15MWh of renewable energy production from its family of PowerBuoys ® (“PB”).

Ocean Power Technologies Announces Renewable Energy Production Milestone

Ocean Power Technologies Inc (NYSE-A:OPTT) is a founding member of a new consortium led by drone maker Red Cat which aims to address critical technology gaps for warfighters. Launched on Monday, the Red Cat Futures Initiative (RFI) is a consortium of robotics and autonomous systems partners committed to providing warfighters with the most advanced and interoperable uncrewed aircraft systems.

Ocean Power Technologies a founding member of new robotics and autonomous systems consortium

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed several offshore demonstrations of its artificial intelligence-capable maritime domain awareness solution Merrows for potential customers. The intelligent maritime solutions and services provider said the demonstrations were conducted using the recently deployed Next Generation PowerBuoy in the North Atlantic Ocean.

Ocean Power Technologies conducts customer demonstrations of maritime domain awareness solution Merrows

Completes Several Customer Field Demonstrations in Support of Sales Activities Completes Several Customer Field Demonstrations in Support of Sales Activities

Ocean Power Technologies Successfully Demonstrates Advanced AI Solutions in the North Atlantic

Ocean Power Technologies Inc (NYSE-A:OPTT) has been selected as part of a team awarded the National Oceanic and Atmospheric Administration (NOAA)'s ProTech Oceans Domain Indefinite Delivery Indefinite Quantity (IDIQ) contract. Under the contract, Ocean Power will provide its innovative PowerBuoy systems and WAM-V autonomous surface vessels to assist NOAA's research and operations.

Ocean Power Technologies awarded multi-year ProTech IDIQ contract

MONROE TOWNSHIP, N.J., April 30, 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 its selection as part of a team awarded the National Oceanic and Atmospheric Administration's (NOAA) Professional, Scientific, and Technical Services (ProTech) Oceans Domain Indefinite Delivery Indefinite Quantity (IDIQ) contract.

Ocean Power Technologies Awarded Multi-Year NOAA ProTech Oceans IDIQ Contract

Paragon Commits Up to $3 Million in Non-Dilutive Preferred Equity of OPT to Save the Company from Insolvency and Future Shareholder Losses. EASTON, PA / ACCESSWIRE / April 22, 2024 / Paragon Technologies, Inc. ("Paragon"), a diversified holding company and the largest shareholder of Ocean Power Technologies, Inc. (NYSE American:OPTT), ("Company" or "OPT"), calls on OPT to immediately cease any future dilutive equity issuance and instead engage with Paragon to save OPT shareholders from a total loss and the company from permanent financial ruin.

Paragon Calls on Ocean Power to Cease Any and All Future Equity Raises That Dilute Existing Stockholders to Fund OPT's Losses and Executive Compensation

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that its chief commercial officer Matt Burdyny will be presenting at the Digital Ocean Industry Symposium on April 17 being held at the NATO Headquarters in Brussels, Belgium.  The company, a leader in innovative marine power, data, and service solutions, highlighted that the NATO Digital Ocean Industry Symposium brings together key NATO stakeholders and industry leaders to explore emerging and disruptive technologies which could enhance Maritime Situational Awareness.

Ocean Power Technologies to present at NATO Digital Ocean Industry Symposium

MONROE TOWNSHIP, N.J., April 17, 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 that Chief Commercial Officer, Matt Burdyny, will be presenting at the NATO Digital Ocean Industry Symposium on April 17th, at NATO Headquarters in Brussels, Belgium.

Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium

Ocean Power Technologies Inc (NYSE-A:OPTT) has signed a teaming agreement with a major international defense contractor. The marine power and services specialist, in a statement, told investors that the new deal envisages the deployment of its Maritime Domain Awareness Solution (MDAS) across specific international regions.

Ocean Power Technologies teams up with major defense contractor

MONROE TOWNSHIP, N.J., April 16, 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 signed a teaming agreement with a major international defense contractor to provide its Merrows suite of solutions with a focus on certain geographic regions. This alliance is set to advance maritime domain awareness through OPT's innovative Maritime Domain Awareness Solution (MDAS).

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