MONROE TOWNSHIP, N.J., Sept. 18, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT) a leader in maritime operational infrastructure and autonomous ocean systems, today announced that it conducted a formally evaluated demonstration of its WAM-V^® 8 platform in challenging surf-zone conditions at the U.S. Army Corps of Engineers’ (USACE) Engineer Research and Development Center (ERDC) Field Research Facility in Duck, North Carolina.

The demonstration generated data and operational insights to inform the continued development of OPT’s 16- and 22-foot WAM-V platforms for demanding near-shore environments. Testing addressed sensor performance, vehicle configuration, and sensor deployment methods, while identifying design improvements and operational and safety considerations relevant to customer requirements.

"We believe testing in challenging surf conditions gives us valuable insight into how we can advance our platforms for customer operations," said Jason Weed, Chief Operating Officer of OPT. "The experience gained will help guide the development of our larger WAM-V vehicles and refine how we integrate and deploy sensors in these environments. We appreciate the USACE, ERDC, and Field Research Facility teams for making this evaluation possible."

For more information about Ocean Power Technologies, visit www.OceanPowerTechnologies.com.

ABOUT OCEAN POWER TECHNOLOGIES

OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy^® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V^® unmanned surface vessels (USVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s products, services and solutions, visit www.OceanPowerTechnologies.com.

FORWARD-LOOKING STATEMENTS

This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the Company’s ability to apply surf-zone testing insights to advance WAM-V platform development and meet customer requirements, the delivery of customer services, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

Contact Information

Investors: 203-561-6945 or investorrelations@oceanpowertech.com

Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com