Ocean Power Technologies Ships Multi-Day Capable WAM-V® for Indo-Pacific Operations

Rhea-AI Summary

Ocean Power Technologies (NYSE American: OPTT) has announced the shipment of an advanced WAM-V® 22' vessel with autonomous capabilities. The vessel successfully demonstrated its ability to conduct continuous survey operations for three days without returning to base.

The WAM-V® is equipped with 24/7 operational payloads and can deploy various sensing capabilities both above and below the waterline. During testing, it completed a three-day fully remote continuous survey operation while carrying a simulated survey payload.

CEO Philipp Stratmann highlighted this achievement as a significant milestone for OPT, emphasizing the vessel's importance for Pacific Ocean operations. The WAM-V® is designed to perform multiple functions, including:

• Extended maritime surveys
• Maritime security operations
• Environmental research

Positive

• Successfully demonstrated 3-day continuous autonomous survey operations without requiring base return
• Expanded operational capabilities for Pacific Ocean market with 24/7 payload functionality
• Enhanced service offering with multi-purpose capabilities (survey, maritime security, environmental research)
• Advanced technology integration with both above and below waterline sensing capabilities

Negative

• None.

Successfully demonstrates three days of continuous survey operations

MONROE TOWNSHIP, N.J., April 30, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: 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 shipment of a WAM-V^® 22’ with autonomous capabilities designed to provide offshore surveys with 24/7 operational payloads for multiple days without requiring a return to base.

This WAM-V^® recently completed a successful demonstration, conducting a three day fully remote, continuous survey operation, while deploying a simulated survey payload.

Philipp Stratmann, CEO of Ocean Power Technologies, commented, "This is a great milestone for OPT. The vastness of the Pacific Ocean makes this an important capability for our customers. This design enables the WAM-V^® to conduct prolonged operations inclusive of survey, maritime security, and/or environmental research with a complex array of above and below the waterline sensing capability."

For additional details on Ocean Power Technologies, please 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^® autonomous surface vessels (ASVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey and has an additional office in Richmond, California. To learn more, 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 continued shipment of WAM-V^®s with autonomous capabilities designed to provide offshore surveys for multiple days without requiring a return to base, the potential continuing success with the delivery of customer services over extended timeframes, 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

What breakthrough did Ocean Power Technologies (OPTT) achieve with their WAM-V vessel in April 2025?

Ocean Power Technologies successfully demonstrated a WAM-V 22' vessel capable of performing continuous survey operations for three days without returning to base, equipped with autonomous capabilities and 24/7 operational payloads.

How long can the new OPTT WAM-V operate continuously in the Pacific Ocean?

The new WAM-V demonstrated the ability to operate continuously for three days while conducting remote survey operations with a simulated survey payload.

What maritime operations can OPTT's WAM-V 22' perform in the Indo-Pacific region?

The WAM-V 22' is designed to conduct prolonged operations including surveys, maritime security, and environmental research, utilizing both above and below waterline sensing capabilities.

What makes OPTT's WAM-V technology significant for Pacific Ocean operations?

The WAM-V's ability to operate continuously for multiple days without returning to base is particularly significant due to the vast size of the Pacific Ocean, making it an important capability for customers requiring extended maritime operations.

What autonomous capabilities does Ocean Power Technologies' WAM-V vessel feature?

The WAM-V 22' features autonomous capabilities that enable 24/7 operational payloads, remote survey operations, and complex sensing capabilities both above and below the waterline.