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.

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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EASTON, PA / ACCESSWIRE / December 6, 2023 / To the Shareholders of OPTT: Paragon Technologies ("Paragon") (OTC PINK:PGNT), owns approximately 4.9% of the outstanding shares of Ocean Power Technologies (NYSE American:OPTT), ("OPT" or the "Company") making Paragon the single largest holder of OPT based on publicly available information. On November 30, the Delaware Court denied Paragon's request for a preliminary injunction relating to OPT's onerous advance notice bylaws, seeking additional information relating to the facts to make a final ruling at a trial, which we expect will follow OPT's annual meeting.

Paragon Technologies Issues Statement to Shareholders of Ocean Power Technologies Regarding the Shameless Entrenchment Actions of the OPTT Board

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 it has commenced mailing definitive proxy materials for its 2023 Annual Meeting of Stockholders (the “Annual Meeting”), to be held on Wednesday, January 31, 2024, via live webcast. OPT's stockholders of record as of the close of business on December 4, 2023, will.

Ocean Power Technologies Commences Mailing of Definitive Proxy Materials for 2023 Annual Meeting

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3 Top Ocean Tech Stocks Exploring New Depths

MONROE TOWNSHIP, N.J., Nov. 21, 2023 (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 second quarter for the period ended October 31, 2023 results after the market closes on Wednesday December 13, 2023.

Ocean Power Technologies to Report 2024 Second Quarter Results on December 13, 2023

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced an action plan aimed at achieving profitability for the company in the 2025 calendar year. With its research and development (R&D) phase substantially completed, the company outlined milestones and initiatives aimed at enhancing value for its shareholders.

Ocean Power announces action plan to achieve profitability in 2025

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 several milestones and initiatives it believes will enhance shareholder value, including: OPT is divesting its non-core strategic consulting team With its research and development phase substantially completed, the Company now expects to achieve profitability in calen.

Ocean Power Technologies Announces Action Plan to Achieve Profitability in Calendar Year 2025

Ocean Power Technologies Inc (NYSE-A:OPTT), a provider of ocean energy and intelligent data services, is using its technology to combat illegal fishing practices and support marine conservation.  The company's vice president for sales and marketing Matt Burdyne joined Proactive's Steve Darling with more details of a contract to provide WildAid and Caribbean Law Enforcement with an OPT WAM-V 16 Uncrewed Surface Vessel (USV) equipped with an integrated quadcopter aerial drone.

Ocean Power Technologies tackles illegal fishing with uncrewed marine technology

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced that Rear Admiral Victorino “Vic” G. Mercado (Retired) has been retained as a special advisor to the company's board of directors.

Ocean Power Technologies appoints former US Admiral Victorino Mercado as board advisor

MONROE TOWNSHIP, N.J.--(BUSINESS WIRE)--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 Rear Admiral Victorino “Vic” G. Mercado (Retired) has been retained as a special advisor to the Company's Board of Directors (the “Board”). “We are pleased that Admiral Mercado has agreed to share his expertise with us as a special advisor and consultant to the B.

Former Pentagon Official and Navy Admiral Victorino “Vic” G. Mercado Appointed as a Special Advisor to the Board of Ocean Power Technologies

Ocean Power Technologies (OPT) Inc's recent contract with WildAid and Caribbean Law Enforcement as well as its $1.6 million additional volume order from Sulmara further solidify the company's commercial pipeline, according to Water Tower Research analysts.   In an update to clients, they noted that OPT's WAM-V 16, a highly versatile and capable vessel, should help Sulmara revolutionize marine data collection.

Ocean Power Technologies' recent contracts add to already solid pipeline: analysts

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has announced a contract with WildAid and Caribbean Law Enforcement partners aimed to protect vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies.  The provider of ocean energy and intelligent data services said it will provide WildAid and their Caribbean Law Enforcement partners with an OPT WAM-V 16 Uncrewed Surface Vessel (USV) equipped with an integrated quadcopter aerial drone, which will empower law enforcement agencies and conservation organizations to safeguard marine life from illegal harvesting while ensuring the sustainability of these critical ecosystems.

Ocean Power Technologies receives contract from WildAid to combat illegal fishing

MONROE TOWNSHIP, N.J., Oct. 25, 2023 (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 they have entered a contract with WildAid and Caribbean Law Enforcement partners. This collaboration aims to protect vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies.

Ocean Power Technologies Awarded Contract with WildAid and Caribbean Law Enforcement to Combat Illegal Fishing with Uncrewed Technologies

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced that it has received an additional volume order valued at $1.6 million from Sulmara for multiple WAM-V 16 uncrewed surface vehicles (USVs), the largest single order of WAM-Vs to date.   The provider of ocean energy and intelligent data services said due to demand, production is already underway to support and will allow for revenue recognition this fiscal year.

Ocean Power Technologies receives $1.6M order from Sulmara for WAM-V 16s

Ocean Power Technologies Strengthens Collaboration with Sulmara Demonstrating Commitment to Sustainable Offshore Solutions Ocean Power Technologies Strengthens Collaboration with Sulmara Demonstrating Commitment to Sustainable Offshore Solutions

Ocean Power Technologies Secures $1.6 Million Order for Multiple WAM-V 16s from Sulmara

MONROE TOWNSHIP, N.J., Sept. 26, 2023 (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 on Thursday, September 28, 2023, at 2:00 pm EDT, Exploration Ventures CEO and OPT Advisor Terry Garcia will participate in a Fireside Chat hosted by Water Tower Research (WTR). Topics that will be covered during the conversation include:

CEO of Exploration Ventures, and Ocean Power Technologies Advisor, Terry Garcia to participate in Fireside Chat with Water Tower Research on Thursday, September 28, 2023, at 2:00 PM EDT

MONROE TOWNSHIP, N.J., Sept. 18, 2023 (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 as part of the Company's ongoing commitment to connecting with the investor community, OPT President and CEO Philipp Stratmann will participate in a fireside chat hosted by Water Tower Research (WTR) at 3:00 PM EDT on September 19, 2023.

Ocean Power Technologies President and CEO Philipp Stratmann to Participate in Fireside Chat with Water Tower Research on Tuesday, September 19, 2023, at 3:00 PM EDT

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q1 2024 Earnings Conference Call September 14, 2023 9:00 AM ET Company Participants Dr. Philipp Stratmann - President, Chief Executive Officer Bob Powers - Senior Vice President, Chief Financial Officer Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Conference Call Participants Shawn Severson - Water Tower Research Operator Good morning and welcome to the Ocean Power Technologies, First Quarter of Fiscal Year 2024 Earnings Conference Call. A webcast of this call is also available and can be accessed by a link on the company's website at www.OceanPowerTechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q1 2024 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced fiscal first quarter 2023 revenue of $1.3 million, up from $0.7 million a year earlier, driven by sales of WAM-V autonomous vehicles, revenue from its previously announced contract with the Department of Energy (DOE) and strategic consulting services.  The provider of ocean energy and intelligent data services also said its sales pipeline has increased 215% year over year to about $85 million as of July 31, 2023, which company attributed to a significant increase in defense and security activity as well as an expansion of commercial opportunities, due to growing interest from offshore wind companies for autonomous monitoring, surveillance and survey-related services during various stages of the project development cycle.

Ocean Power Technologies sees 1Q revenue climb as sales pipeline surges

MONROE TOWNSHIP, N.J., Sept. 13, 2023 (GLOBE NEWSWIRE) --  Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal first quarter ended July 31, 2023 (“Q124”), including year over year revenue, gross profit, and pipeline growth.

Ocean Power Technologies, Inc. Announces First Quarter Fiscal 2024 Results

Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it won three separate Indefinite Delivery Indefinite Quantity (IDIQ) multiple-award contracts (MAC) from the National Oceanic and Atmospheric Administration (NOAA). The company said these latest awards build on recent successes in the defense and national security space and add to its reputation as a reliable US Government contractor.

Ocean Power Technologies wins three multi-year NOAA contracts to revolutionize Uncrewed Maritime Systems

MONROE TOWNSHIP, N.J., Sept. 07, 2023 (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 the award of three separate Indefinite Delivery Indefinite Quantity (IDIQ) Multiple-Award Contracts (MAC) from the National Oceanic and Atmospheric Administration (NOAA). These awards further add to OPT's reputation as a reliable U.S. Government contractor and build on recent successes in the defense and national security space.

Ocean Power Technologies Awarded Three Multi-Year NOAA Contracts to Revolutionize Uncrewed Maritime Systems

MONROE TOWNSHIP, N.J., Sept. 07, 2023 (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 Bob Powers, Chief Financial Officer, will participate in the H.C. Wainwright & Co. 25th Annual Global Investment Conference. The hybrid conference will take place September 11-13, 2023 at the Lotte New York Palace Hotel and will include virtual and in-person participation with over 550 company presentations scheduled as live feed or available on-demand.

Ocean Power Technologies to Participate in the H.C. Wainwright & Co. 25th Annual Global Investment Conference

EASTON, PA / ACCESSWIRE / August 25, 2023 / Paragon Technologies, Inc. ("Paragon") (OTC:PGNT), a diversified holding company which owns approximately 4.0% of the outstanding shares of Ocean Power Technologies, Inc. ("Company") ("OPT") (NYSE American: OPTT), calls on OPT to remove the Company's entrenchment devices prior to the Company's 2023 Annual Meeting. Immediately after Paragon indicated its interest in joining the Company's board due to concerns Paragon expressed about OPT's deteriorating financial performance to the Company's CEO and Board, OPT quickly amended its bylaws to make its director nomination provisions more burdensome and include provisions that OPT has not applied to its own hand-picked board nominees.

Paragon Technologies Calls on Ocean Power Technologies to Remove Entrenchment Devices in Advance of 2023 Annual Meeting

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has announced what the company called a “pivotal achievement” in the field of autonomous maritime technology: the successful demonstration of the Wave Adaptive Modular Vessel (WAM-V) attaching itself remotely to a buoy and establishing a connection that will enable charging.  The groundbreaking milestone was revealed by OPT's vice president of global sales and marketing Matt Burdyny at the 10th Annual Maritime Security West (MARSEC West) event.

Ocean Power Technologies reveals WAM-V on-water charging breakthrough

Presentation at MARSEC West Event Highlights Successful Demonstration of Autonomous Vehicle's Ability to Attach to Wave Energy Converter PowerBuoy® Presentation at MARSEC West Event Highlights Successful Demonstration of Autonomous Vehicle's Ability to Attach to Wave Energy Converter PowerBuoy®

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