Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North and South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in remote offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and payloads, integration services, and marine installation services. In addition, it offers electric power and real-time data communications for remote offshore and subsea applications in markets, such as offshore oil and gas, defense and security, science and research, and communications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was founded in 1984 and is headquartered in Monroe Township, New Jersey.
IPO Year: 2007
Exchange: NASDAQ
Website: oceanpowertechnologies.com
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MONROE TOWNSHIP, N.J., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in intelligent maritime solutions, today announced a major upgrade to its AI-capable Merrows™ Maritime Domain Awareness Solution (MDAS). The updated system expands its role as an ISR node—enabling enhanced maritime domain awareness and autonomous collaboration across surface, subsurface, and aerial platforms. Built with mission-driven design, Merrows™ now delivers faster performance, greater stability, and improved security—empowering operators to maintain a persistent watch in contested or remote environments. The system's expanded flexibility also allo
MONROE TOWNSHIP, N.J., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative, low-carbon offshore power, data, and service solutions, today announced the opening of a new office at the Association for Uncrewed Vehicle Systems International (AUVSI) headquarters in Washington, D.C. This strategic move marks a significant milestone in the Company's expansion efforts and underscores its commitment to advancing uncrewed systems operations and policy engagement at the national level. The new office, located in the heart of the U.S. capital, positions OPT alongside the world's largest nonprofit organization dedicated to th
MONROE TOWNSHIP, N.J., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative, low-carbon offshore power, data, and service solutions, today announced its participation in a joint hearing of the New Jersey Assembly Environment, Natural Resources, and Solid Waste Committee and the Senate Environment and Energy Committee. The session brought together invited speakers to discuss tidal and wave energy, advanced marine technologies, and the role of the state in fostering renewable innovation. Testifying before state lawmakers, OPT President and CEO Philipp Stratmann underscored the state's opportunity to lead the emerging U
MONROE TOWNSHIP, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal fourth quarter ("4Q25") and full-year ended April 30, 2025 ("FY25"). Highlights include: FY25 RESULTS and RECENT HIGHLIGHTS Backlog at April 30, 2025 was $12.5 million, a 158% increase over the prior year.Pipeline as of the date of this release stands at $137.5 million, an 88% increase over the $71.6 million pipeline at April 30, 2024.Operating expenses of $23.3 million for FY25 decreased $8.9 million, or 28%, versus $32.2 million for the year ended April 30, 2024.Revenues for FY25 of $5.9 million increased 6% over
MONROE TOWNSHIP, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the signing of a new reseller agreement with a Latin America-based partner focused on supporting the Mexican offshore and maritime markets. This partnership significantly expands OPT's commercial footprint across Latin America, leveraging the reseller's regional presence and relationships within Mexico. Under the agreement, the partner will provide business development, sales, and technical support services. The agreement also includes a $3 million purcha
MONROE TOWNSHIP, N.J., July 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fiscal 2025 full year and fourth quarter ended April 30, 2025 after the market closes on Thursday July 24, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Friday July 25, 2025, at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO, will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Web
MONROE TOWNSHIP, N.J., July 14, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 achieved ISO 9001 certification for its quality management system. ISO 9001 is the world's most recognized quality management standard, awarded to organizations that consistently provide products and services that meet customer and regulatory requirements. This milestone affirms OPT's commitment to excellence in engineering, manufacturing, and service delivery across its product portfolio, including the PowerBuoy®, WAM-V® Unmanned Surface
MONROE TOWNSHIP, N.J., July 09, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the successful installation of its previously contracted PowerBuoy® system for the Naval Postgraduate School (NPS). The full system, now deployed in Monterey Bay, integrates AT&T® 5G technology and advanced subsea sensors into OPT's latest PowerBuoy® equipped with its proprietary Merrows™ suite—designed for AI-capable, seamless Maritime Domain Awareness (MDA) integration across manned and unmanned platforms. The PowerBuoy® will provide continuous, autonom
MONROE TOWNSHIP, N.J., June 26, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (OPT or the "Company") (NYSE:OPTT), a leader in innovative and sustainable marine energy and data solutions, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for its U.S. patent application titled "System and Method for Vehicle Charging." The newly allowed patent (Application No. 18/936,528) protects OPT's breakthrough system for an autonomous, floating marine charging solution. Designed to address the increasing demand for clean maritime operations, the invention enables electric vessels—including uncrewed surface vehicles—to safely locate,
MONROE TOWNSHIP, N.J., June 04, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative, cost-effective, low-carbon and artificial intelligence maritime services that enable safer and more productive ocean operations and related power, data, and service solutions, today announced the hiring of Jason Weed as Senior Vice President – Commercial Sales. Mr. Weed is a strategic leader and retired U.S. Navy Captain with over 15 years of executive-level experience driving innovation and growth in maritime and technology-focused organizations, including most recently as Senior Business Developer and Capture Manager at Leidos' Maritime Sy
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MONROE TOWNSHIP, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it will exhibit at NAVDEX in Abu Dhabi with Remah International Group ("RIG"), a privately held and UAE headquartered company with a focus on both military and civilian services. This follows OPT's appointment of RIG as its distributor for defense and security solutions in the UAE in late 2024. RIG, through its locally owned group of 48 companies, partners with industry leading solution providers globally like Red Cat and SAAB, to ensure the highest levels
MONROE TOWNSHIP, N.J., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that concurrent with the completion of the Company's 2024 Annual Meeting of Stockholders on January 16, 2025, the OPT Board of Directors has appointed Natalie Lorenz-Anderson, Rear Admiral Joseph A. "Digger" DiGuardo and Rear Admiral Victorino "Vic" Mercado as Advisory Board Members. The Advisory Board Members will provide advice and recommendations to the OPT Board with respect to matters as the Board may from time-to-time request concerning operations, s
MONROE TOWNSHIP, N.J., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 Distributor Agreement with Remah International Group ("RIG"), a privately held and UAE headquartered company with a focus on both military and civilian services. Through its locally owned group of 48 companies, RIG partners with esteemed solution providers globally, including Northrop Grumman and SAAB, to ensure the highest levels of service and product are supplied to the UAE. OPT and RIG will collaborate to promote, distribute, sell, and
MONROE TOWNSHIP, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 an agreement with 3B General Trading & Contracting Co. W.L.L. (3B) to explore projects in the offshore energy and maritime industry in Kuwait, including deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™. Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this agreement, stating, "As we continue our growth, we are excited to continue our exp
MONROE TOWNSHIP, N.J., June 27, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 an Original Equipment Manufacturer ("OEM") agreement with Teledyne Marine, a division of Teledyne Technologies Inc. (NYSE:TDY) ("Teledyne"), a key supplier in the maritime technology inclusive of connectors, instruments, and vehicles. This strategic partnership aims to enhance OPT's product offerings and drive innovation within the industry providing customers with a turnkey system. Philipp Stratmann, CEO of OPT, expressed his enth
MONROE TOWNSHIP, N.J., April 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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). Under the terms of the agreement, the defense contractor will have exclusive rights to provide OPT's MDAS solution within certain international geographic regions. Le
MONROE TOWNSHIP, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced Robert P. (Bob) Powers has been appointed by the Company's Board of Directors as Senior Vice President and Chief Financial Officer, effective December 13, 2021. Mr. Powers brings more than 25 years of experience in finance and strategy to OPT, most recently as CFO of Constellation Advisors, a private equity-owned provider of outsourced back-office operations and compliance services. He has held financial leadership roles with Sterling Talent Solutions, Wo
Philipp Stratmann Appointed as President and CEO, and Matthew Shafer Promoted to Senior Vice President, CFO and Treasurer MONROE TOWNSHIP, N.J., June 21, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and cost-effective low carbon ocean energy solutions, today announced that its Board of Directors appointed Philipp Stratmann as its new President and Chief Executive Officer (CEO), and a Director. Mr. Stratmann previously served as OPT's Vice President of Global Business Development since 2019. In addition, the Board of Directors has elevated Matthew T. Shafer, to Senior Vice President, Chief Financial Officer and Treas
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MONROE TOWNSHIP, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal fourth quarter ("4Q25") and full-year ended April 30, 2025 ("FY25"). Highlights include: FY25 RESULTS and RECENT HIGHLIGHTS Backlog at April 30, 2025 was $12.5 million, a 158% increase over the prior year.Pipeline as of the date of this release stands at $137.5 million, an 88% increase over the $71.6 million pipeline at April 30, 2024.Operating expenses of $23.3 million for FY25 decreased $8.9 million, or 28%, versus $32.2 million for the year ended April 30, 2024.Revenues for FY25 of $5.9 million increased 6% over
MONROE TOWNSHIP, N.J., July 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fiscal 2025 full year and fourth quarter ended April 30, 2025 after the market closes on Thursday July 24, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Friday July 25, 2025, at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO, will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Web
MONROE TOWNSHIP, N.J., March 18, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended January 31, 2025 (Q3FY25). Q3FY25 Financial Highlights Backlog: $7.5 million, compared to the $3.3 million for the same period last year. Primarily driven by our previously announced new partner in Latin America which includes an initial $2.0 million of purchase orders for our Next Generation PowerBuoys® and $3.0 million of WAM-V® purchase orders. Revenue: $0.8 million, compared to $1.8 million for the same period last year.Operating expenses: $6.1 million, compared to $8.6 million for the same period
MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue: $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase.Net Loss: $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities: $4.8 million, compared to $7.5 milli
MONROE TOWNSHIP, N.J., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the second quarter ended October 31, 2024 (Q2FY25). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its second quarter financial results and update in mid‐December. Preliminary Q2FY25 Financial Highlights(All figures are preliminary, unaudited, and subject to finalization): Revenue: Estimated to be greater than $2 million, compared to $0.9 million for the same period last year, representing a m
MONROE TOWNSHIP, N.J., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release early earnings for its fiscal 2025 second quarter for the period ended October 31, 2024 after the market closes on Monday December 2, 2024. It also announced it will release its full results for the same quarter after the market closes on Monday December 16, 2024. Philipp Stratmann, OPT's CEO and President, stated, "We are excited to provide our shareholders with an early earnings update for our recent quarter. The ongoing growth in
MONROE TOWNSHIP, N.J., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal first quarter ended July 31, 2024 ("Q125"), which included year over year reductions in operating expenses, operating loss, and cash burn. Recent Financial and Operational Highlights: Operating expenses of $4.9 million for Q125 decreased 39% as compared to operating expenses of $8.1 million for the same period in the prior year ("Q124") reflecting previously disclosed restructuring and streamlining activities. Use of cash for operating activities of $6.1 million for Q125 decreased 23% as compared to operating e
MONROE TOWNSHIP, N.J., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE: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. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Tuesday September 17, 2024 at 9:00 AM EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Web
MONROE TOWNSHIP, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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
MONROE TOWNSHIP, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal fourth quarter ("4Q24") and full-year ended April 30, 2024 ("FY24"). Highlights include: 4Q24 and RECENT HIGHLIGHTS Backlog at April 30, 2024 is $4.9 million, a 25% increase over the prior year.Pipeline at April 30, 2024 stood at $71.6 millionIn July 2024 we announced a contract for immediate delivery of a PowerBuoy equipped with Merrows, our Artificial Intelligence capable Maritime Domain Awareness Solution, in the Midde East. This order follows our previous announcement of the customer's selection of O
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