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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EASTON, PA / ACCESSWIRE / July 11, 2023 / Dear Shareholders of OPT: Paragon Technologies (OTC:PGNT) owns approximately 3.9% of the outstanding shares of Ocean Power Technologies and has become one of the largest, if not the largest, single shareholder in OPT. Paragon is a diversified holding company known for pursuing out of favor, overlooked and misunderstood businesses with opportunities for profitability and sustainability.

Paragon Technologies Calls on Ocean Power Technologies to Defend its 30 Year Record of Consecutive Losses, Precipitous Decline in Shareholder Value, and Entrenchment Tactics to Insulate Board from Accountability

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) said its Board of Directors has adopted a new tax benefits preservation plan in a bid to protect long-term shareholder value by preserving significant tax assets. The company said that the plan was designed to protect and preserve its tax assets primarily associated with net operating loss (NOL) carryforwards that could be potentially utilized in certain circumstances to offset OPT's future taxable income and reduce its federal income tax liability.

Ocean Power Technologies adopts new tax plan to protect shareholder value

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 its Board of Directors has approved the adoption of a tax benefits preservation plan (or “the plan”) in the form of a Section 382 Rights Agreement. The plan is designed to protect and preserve OPT's tax assets primarily associated with net operating loss carryfor.

OPT Adopts Tax Benefits Preservation Plan to Protect Long-term Shareholder Value By Preserving Significant Tax Assets

MONROE TOWNSHIP, N.J., June 15, 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 2023 fourth quarter and full-year ended April 30, 2023, results after the market closes on Wednesday, July 12, 2023.

Ocean Power Technologies to Report 2023 Fourth Quarter and Full-Year Results on July 12, 2023

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MONROE TOWNSHIP, N.J., April 27, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), a leader in innovative, cost-effective, and autonomous low-carbon marine data, power, and consulting service solutions, today announced Matt Burdyny, Vice President, Global Sales & Marketing, will be participating in the Water Tower Research Fireside Chat Series on April 28, 2023, at 11:00 am ET.

Ocean Power Technologies, Inc. to Participate in Water Tower Fireside Chat Series

Ocean Power Technologies Inc (NYSE-A:OPTT). (OPT) said it will continue to provide its WAM-V 22 Autonomous Surface Vehicle (ASV) asset to a US government agency overseas for its maritime activities through a $0.5 million contract extension.

Ocean Power Technologies extends contract with US government agency overseas

OPT's WAM-V® 22 Autonomous Surface Vehicle (ASV) will Continue Supporting a US Government Agency, Securing Recurring Revenues OPT's WAM-V® 22 Autonomous Surface Vehicle (ASV) will Continue Supporting a US Government Agency, Securing Recurring Revenues

Ocean Power Technologies Signs $0.5M Extension to Provide WAM-V® 22 for ongoing Activities Overseas

Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced the successful first test of its next-generation increased power wave energy converter buoy, the Mass-On-Spring-Wave-Energy-Converter (MOSWEC) prototype. The company reported that the operational-sized buoy, deployed offshore in New Jersey, has been performing as expected and has already endured storm conditions at sea.

Ocean Power Technologies deploys next-generation wave energy convertor buoy

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q3 2023 Earnings Conference Call March 14, 2023 9:00 AM ET Company Participants Joseph DiPietro - Corporate Controller and Treasurer Philipp Stratmann - President and CEO Robert P. Powers - SVP and CFO Conference Call Participants Shawn Severson - Water Tower Research Operator Good morning and welcome to the Ocean Power Technologies Third Quarter Fiscal 2023 Earnings Conference Call.

Ocean Power Technologies, Inc. (OPTT) Q3 2023 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has announced a 52% increase in its fiscal third quarter 2023 revenue to $0.7 million, which was driven by sales of WAM-V autonomous vehicles and an increase in strategic consulting services. The company said total orders for the quarter rose to $0.8 million from $0.7 million during the same period last year.

Ocean Power Technologies sees 3Q revenue climb 52% on autonomous vehicles sales, increase in consulting services

Results include Third Quarter Revenue Growth of 51.7% Results include Third Quarter Revenue Growth of 51.7%

Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2023 Results

MONROE TOWNSHIP, N.J., Feb. 13, 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 2023 third quarter for the period ended January 31, 2023 results after the market closes on Monday, March 13, 2023.

Ocean Power Technologies to Report 2023 Third Quarter Results on March 13, 2023

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Ocean Power Technologies to Discuss Latest Developments in Autonomous Systems and their Applications in Safeguarding Ocean Resources and Maritime Security Ocean Power Technologies to Discuss Latest Developments in Autonomous Systems and their Applications in Safeguarding Ocean Resources and Maritime Security

OPT to Participate in Third Installment of Fireside Chat Series with Water Tower Research on January 26, 2023

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Water Tower Research analyst Shawn Severson has noted that second-quarter 2023 results from Ocean Power Technologies Inc (NYSE-A:OPTT) (OPTT) showed its consulting business driving top-line growth, together with strong R&D efforts across the company's offerings. Severson pointed out that OPTT saw its Q2 revenue grow by 22.7% year-on-year to $0.3 million, compared with $0.2 million in 2Q22, with the increase was primarily due to higher levels of revenue, stemming from the acquisition of MAR, which produced $0.1 million in 2Q23, while sales of WAM-Vs also drove growth.

Ocean Power Technologies Q2 results showed its consulting business driving top-line growth, notes analyst

MONROE TOWNSHIP, N.J., Dec. 15, 2022 (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, it will participate in a fireside chat hosted by Water Tower Research (WTR) at 2:00 p.m. ET on December 16, 2022 followed by a brief question-and-answer session.

Ocean Power Technologies to Participate in a Fireside Chat with Water Tower Research on Friday, December 16

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q2 2023 Earnings Conference Call December 15, 2022 9:00 AM ET Corporate Participants Joseph DiPietro - Corporate Controller and Treasurer Philipp Stratmann - President and Chief Executive Officer Bob Powers - Senior Vice President, Chief Financial Officer Conference Call Participants Shawn Severson - WTR Jeffrey Campbell - Alliance Global Partners Operator Good morning and welcome to the Ocean Power Technologies Second Quarter Fiscal 2023 Earnings Conference Call. A webcast of this call is also available on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies, Inc. (OPTT) Q2 2023 Earnings Call Transcript

Ocean Power Technologies Inc (NYSE-A:OPTT) has reported a 23% increase in revenues to $0.3 million in the second quarter driven by sales of WAM-V's and an increase in Strategic Consulting Services. Losses at the low-carbon marine data, power, and consulting service solutions company fell to $4.8 million in the quarter compared to $5.2 million for the same quarter last year.

Ocean Power Technologies cuts losses as orders and revenues grow

MONROE TOWNSHIP, N.J., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced financial results for its second quarter ended October 31, 2022 (“2Q23”).

Ocean Power Technologies, Inc. Announces Second Quarter Fiscal 2023 Results

MONROE TOWNSHIP, N.J., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced that the Company's 2022 Annual Meeting of Stockholders (the “Annual Meeting”) was convened on December 14, 2022 at 9:00 AM EST and adjourned, without any business being conducted, due to lack of the required quorum.

Ocean Power Technologies Announces Adjournment of Annual Meeting of Stockholders

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