Ocean Power Technologies Highlights Supply Chain Resilience Amid Global Uncertainty
Rhea-AI Summary
Ocean Power Technologies (NYSE: OPTT) announced its operational resilience amid global supply chain challenges, highlighting its majority domestic supply chain as a strategic advantage. The company confirmed stable inventory levels and procurement practices, with no material impact on costs or customer delivery schedules.
CEO Philipp Stratmann emphasized OPT's fully U.S.-based workforce, which includes over 20% veterans, as a key differentiator enabling agility and competitiveness in both defense and commercial energy sectors. The company's supply chain strategy positions it to meet increasing demand for dual-use technologies serving defense and renewable energy applications while maintaining quality and security standards.
Positive
- Stable inventory levels with no material cost impacts
- Strong domestic supply chain mitigating global logistics challenges
- Increasing demand for dual-use technologies in defense and renewable energy
- On-schedule customer delivery performance
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, OPTT gained 5.41%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Majority Domestic Supply Chain Enables Operational Continuity and Competitive Advantage
MONROE TOWNSHIP, N.J., April 07, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE American: OPTT), a leader in innovative and sustainable ocean energy solutions, today announced that it remains fully operational and strategically positioned to navigate ongoing global supply chain challenges, thanks to its majority domestic supply chain and resilient workforce.
In light of recent global developments impacting international logistics and raw material availability, OPT confirms that its current inventory levels and procurement practices remain unaffected. The Company does not anticipate any material impact on inventory costs and continues to fulfill customer commitments on schedule.
“Our strong domestic supply chain is a key differentiator for OPT, particularly in times of global economic uncertainty,” said Philipp Stratmann, President and CEO of OPT. “We are proud to maintain a fully U.S.-based workforce, consisting of over
Demand for dual-use technologies that serve both defense and renewable energy applications is increasing in both domestic and international markets. OPT’s supply chain strategy and operational footprint are designed to meet this demand while maintaining high standards of quality, security, and delivery performance.
Stratmann added, “Our commitment to U.S. manufacturing and engineering excellence is central to our ability to support mission-critical applications for customers around the world.”
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 OPT’s continuing ability to successfully navigate the new macroeconomic environment of competing reciprocal worldwide tariffs and related product pricing and supply chain impacts, 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
FAQ
How is Ocean Power Technologies (OPTT) managing global supply chain challenges in 2025?
What percentage of OPTT's workforce consists of veterans?
What markets does Ocean Power Technologies (OPTT) currently serve?
How does OPTT's domestic supply chain provide competitive advantage?
