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), which offers renewable energy-as-a-service for offshore applications and maritime products for commercial and military markets, is “uniquely positioned to leverage several megatrends” in the industry, noted analysts at Water Tower Research. In a note to clients, Water Tower Research said the offshore power market is expected to see "significant growth" in the coming years, with OPT focused strategically on data and Power-as-a-Service (PaaS).

Ocean Power Technologies is uniquely positioned to leverage megatrends in the offshore power industry, says Water Tower Research

Tackling illegal fishing. Marine collision avoidance.

Ocean Power Technologies is offering critical ocean intelligence services to the defense, oil and gas, offshore wind, and research markets

MONROE TOWNSHIP, N.J., Oct. 11, 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 Philipp Stratmann, Chief Executive Officer, will participate in the LD Micro Main Event XV Conference.

Ocean Power Technologies to Participate in the LD Micro Main Event XV Conference

Ocean Power Technologies, Inc. (NYSE:OPTT ) Q1 2023 Earnings Conference Call September 13, 2022 9:00 AM ET Company Participants Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Philipp Stratmann - President, Chief Executive Officer Robert Powers - Senior Vice President, Chief Financial Officer Conference Call Participants Operator Good morning and welcome to the Ocean Power Technologies First 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) Q1 2023 - Earnings Call Transcript

MONROE TOWNSHIP, N.J., Sept. 13, 2022 (GLOBE NEWSWIRE) -- In a release issued on Monday, September 12 by Ocean Power Technologies, Inc. (NYSE American: OPTT), please note that the headline should have read "Fiscal 2023" and not "Fiscal 2022". The complete and corrected release follows:

CORRECTION -- Ocean Power Technologies, Inc.

MONROE TOWNSHIP, N.J., Sept. 12, 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 first quarter ended July 31, 2022.

Ocean Power Technologies, Inc. Announces First Quarter Fiscal 2022 Results

MONROE TOWNSHIP, N.J., Sept. 07, 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 Bob Powers, Chief Financial Officer, will participate in the H.C. Wainwright & Co. 24th Annual Global Investment Conference.

Ocean Power Technologies to Participate in the H.C. Wainwright & Co. 24th Annual Global Investment Conference

MONROE TOWNSHIP, N.J., Aug. 12, 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 it will report its fiscal 2023 first quarter after the market closes on Monday, September 12, 2022.

Ocean Power Technologies to Report 2023 First Quarter Results on Monday, September 12, 2022

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MONROE TOWNSHIP, N.J., July 18, 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 U.S. Department of Energy (DOE) selected the Company for the Phase II development of a next-generation wave energy converter.

Ocean Power Technologies Announces DOE Award Supporting Phase II Development of Next Generation Technologies

Ocean Power Technologies Inc. (NYSE:OPTT ) Q4 2022 Earnings Conference Call July 14, 2022 9:00 AM ET Company Participants Philipp Stratmann - President, Chief Executive Officer Robert Powers - Senior Vice President, Chief Financial Officer Joseph DiPietro - Controller, Treasurer, Principal Accounting Officer Conference Call Participants Robert Silvera - RE Silvera & Associates Peter Ruggiere - Dawson James Operator Good morning and welcome to the Ocean Power Technologies fourth quarter and full year fiscal 2022 conference call. A webcast of this call is also available on the company's website at www.oceanpowertechnologies.com.

Ocean Power Technologies (OPTT) CEO, Philipp Stratmann on Q4 2022 Results - Earnings Call Transcript

Revenues Increased in Fiscal 2022 as Company Executes Its Growth Strategy to be the Offshore Leader of Data-as-a-Service and Power-as-a-Service Revenues Increased in Fiscal 2022 as Company Executes Its Growth Strategy to be the Offshore Leader of Data-as-a-Service and Power-as-a-Service

Ocean Power Technologies, Inc. Announces Fourth Quarter and Full-Year Fiscal 2022 Results

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MONROE TOWNSHIP, N.J., June 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 power, data, and service solutions, today announced that it will report its 2022 fourth quarter and full-year results after the market closes on Wednesday, July 13, 2022.

Ocean Power Technologies to Report 2022 Fourth Quarter and Full-Year Results on Wednesday, July 13, 2022

MONROE TOWNSHIP, N.J., May 09, 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 Ethan Butler joined the Company as Vice President of Engineering & Operations.

Ethan Butler Joins OPT as VP Engineering & Operations

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Ocean Power Technologies, Inc. (OPTT) CEO Philipp Stratmann on Q3 2022 Results - Earnings Call Transcript

Revenues Grow 53%; New VP Global Sales & Marketing Appointed Revenues Grow 53%; New VP Global Sales & Marketing Appointed

Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2022 Results

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MONROE TOWNSHIP, N.J., Feb. 02, 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 it will report its fiscal year 2022 third quarter results for the period ending January 31, 2022, after the market closes on Monday, March 14, 2022.

Ocean Power Technologies to Report Fiscal Year 2022 Third Quarter Results on Monday, March 14, 2022

Eco Wave Power Global AB

Eco Wave Power Global AB (NASDAQ: WAVE) and Ocean Power Technologies Inc (NYSE: OPTT) plan to utilize their complementary technologies and skills to accelerate wave energy projects under an agreement previously signed. The companies will work together on several fronts, including knowledge sharing, joint grant submissions, and collaborative assistance to enter new markets.

Eco Wave Power, Ocean Power Technologies Join Forces To Accelerate Wave Energy Projects

STOCKHOLM and MONROE TOWNSHIP, N.J., Jan. 13, 2022 /PRNewswire/ -- Eco Wave Power Global AB (publ) (Nasdaq First North: ECOWVE and Nasdaq US: WAVE) ("Eco Wave Power") and Ocean Power Technologies, Inc. (NYSE American: OPTT) ("OPT"), two publicly traded wave energy companies, announced today they are working to utilize their complementary technologies and skills to accelerate wave energy projects pursuant to an agreement previously signed.

Eco Wave Power and Ocean Power Technologies Announce Collaboration to Propel Wave Energy to the Next Level

On Thursday, Ocean Power Technologies Inc. (NASDAQ:OPTT) shares advanced by more than 2%, extending this week's post-earnings gains to 18%. The stock had spiked nearly 10% on Wednesday.

News for Ocean Power Technologies Stock (OPTT)