Ocean Power Technologies Highlights Marine Energy Leadership in Testimony Before New Jersey Legislature
Ocean Power Technologies (NYSE American: OPTT) participated in a joint hearing of New Jersey Assembly and Senate environmental committees to discuss the future of marine energy. CEO Philipp Stratmann highlighted the company's PowerBuoy® systems and WAM-V® autonomous surface vehicles that provide clean energy and maritime monitoring solutions.
The company recently achieved a significant milestone with the installation of an AI-capable Merrows™ PowerBuoy® for the Naval Postgraduate School in Monterey Bay, featuring AT&T® 5G technology integration for defense and environmental applications. Stratmann advocated for New Jersey to become the nation's marine energy hub through policy measures including clear test sites, streamlined permitting, and state advocacy in federal arenas.
Ocean Power Technologies (NYSE American: OPTT) ha preso parte a un'audizione congiunta delle commissioni ambientali dell'Assemblea e del Senato del New Jersey per discutere il futuro dell'energia marina. L'amministratore delegato Philipp Stratmann ha messo in luce i sistemi PowerBuoy® e i veicoli di superficie autonomi WAM-V® dell'azienda, che offrono soluzioni per energia pulita e monitoraggio marino.
Recentemente la società ha raggiunto un traguardo importante con l'installazione di una PowerBuoy® Merrows™ dotata di capacità AI per la Naval Postgraduate School nella baia di Monterey, integrata con la tecnologia 5G di AT&T® per applicazioni difensive e ambientali. Stratmann ha esortato il New Jersey a diventare il polo nazionale per l'energia marina tramite misure politiche come aree di test definite, procedure di autorizzazione semplificate e un ruolo statale di rappresentanza a livello federale.
Ocean Power Technologies (NYSE American: OPTT) participó en una audiencia conjunta de los comités ambientales de la Asamblea y el Senado de Nueva Jersey para debatir el futuro de la energía marina. El director ejecutivo Philipp Stratmann destacó los sistemas PowerBuoy® y los vehículos de superficie autónomos WAM-V® de la compañía, que ofrecen soluciones de energía limpia y vigilancia marítima.
La empresa alcanzó recientemente un hito con la instalación de una PowerBuoy® Merrows™ con capacidad de IA para la Naval Postgraduate School en la bahía de Monterey, incorporando la tecnología 5G de AT&T® para aplicaciones de defensa y medioambientales. Stratmann instó a que Nueva Jersey se convierta en el centro nacional de energía marina mediante políticas como sitios de prueba claros, permisos simplificados y defensa estatal en foros federales.
Ocean Power Technologies (NYSE American: OPTT)는 해양 에너지의 미래를 논의하기 위해 뉴저지 주 하원 및 상원 환경위원회의 합동 청문회에 참석했습니다. 최고경영자 필립 스트라트만(Philipp Stratmann)은 청정 에너지와 해상 모니터링 솔루션을 제공하는 회사의 PowerBuoy® 시스템과 WAM-V® 자율 수상 차량을 강조했습니다.
회사는 최근 몬터레이 베이에 있는 해군대학원(Naval Postgraduate School)을 위해 AI 기능을 갖춘 Merrows™ PowerBuoy® 설치라는 중요한 이정표를 달성했으며, 방위 및 환경 적용을 위해 AT&T® 5G 기술을 통합했습니다. 스트라트만은 뉴저지가 명확한 시험 사이트, 간소화된 허가 절차, 연방 차원의 주정부 대변 등 정책적 조치로 국가 해양 에너지 허브가 될 것을 촉구했습니다.
Ocean Power Technologies (NYSE American: OPTT) a participé à une audition conjointe des commissions environnementales de l'Assemblée et du Sénat du New Jersey pour discuter de l'avenir de l'énergie marine. Le directeur général Philipp Stratmann a mis en avant les systèmes PowerBuoy® et les véhicules de surface autonomes WAM-V® de la société, qui fournissent des solutions d'énergie propre et de surveillance maritime.
La société a récemment franchi une étape importante avec l'installation d'une PowerBuoy® Merrows™ dotée de capacités d'IA pour la Naval Postgraduate School dans la baie de Monterey, intégrant la technologie 5G d'AT&T® pour des applications de défense et environnementales. Stratmann a appelé à faire du New Jersey le pôle national de l'énergie marine par des mesures politiques telles que des sites d'essai clairement définis, des autorisations simplifiées et une défense des intérêts de l'État au niveau fédéral.
Ocean Power Technologies (NYSE American: OPTT) nahm an einer gemeinsamen Anhörung der Umweltkomitees der New Jersey Assembly und des Senats teil, um die Zukunft der Meeresenergie zu erörtern. CEO Philipp Stratmann hob die PowerBuoy®-Systeme und die autonomen Oberflächenfahrzeuge WAM-V® des Unternehmens hervor, die saubere Energie und maritime Überwachungslösungen bieten.
Das Unternehmen erreichte kürzlich einen wichtigen Meilenstein mit der Installation einer KI-fähigen Merrows™ PowerBuoy® für die Naval Postgraduate School in Monterey Bay, einschließlich der Integration von AT&T® 5G-Technologie für Verteidigungs- und Umweltanwendungen. Stratmann plädierte dafür, New Jersey durch politische Maßnahmen wie klar definierte Teststandorte, vereinfachte Genehmigungsverfahren und staatliche Interessenvertretung auf Bundesebene zum nationalen Zentrum für Meeresenergie zu machen.
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From Innovation to Policy: OPT Leverages Proven Marine Energy Track Record to Help Shape the Future
MONROE TOWNSHIP, N.J., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: 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.S. marine energy sector. He highlighted how OPT’s proprietary PowerBuoy® systems and WAM-V® autonomous surface vehicles deliver persistent clean energy, environmental monitoring, and maritime domain awareness for customers worldwide, and how New Jersey’s talent, coastline, and industrial base could anchor a global leadership position if supported by targeted policy measures.
Stratmann underscored OPT’s leadership and vision by reference to its most recent milestone: the successful installation of an AI-capable Merrows™ PowerBuoy® for the Naval Postgraduate School in Monterey Bay. The system integrates AT&T® 5G technology with advanced subsea sensors to provide continuous monitoring and real-time data for defense, power and environmental applications. “This deployment shows exactly what’s possible when cutting-edge marine energy meets mission-critical needs,” Stratmann said.
“New Jersey has the assets and expertise to be the nation’s hub for marine energy,” said Stratmann. “With clear test sites, streamlined permitting, and active state advocacy in federal arenas, we can drive innovation, create high-value jobs, and enhance both climate resilience and national security, all from our own coastline.”
In his testimony, Stratmann called on lawmakers to accelerate action by fostering industry collaboration, enabling real-world testing within state waters, and positioning New Jersey companies in national energy and defense conversations.
For additional information about OPT, please visit our website Ocean Power Technologies.
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® autonomous surface vessels (ASVs) 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 groundbreaking 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 continuing successful operations of the AI capable Merrows™ PowerBuoy®, success with the Naval Postgraduate School buoy in Monterey Bay, 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
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