Ocean Power Technologies to Support Marine Research with PowerBuoy Platform
Third-party research instrument procurement and integration would be handled under separate arrangements.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Ocean Power Technologies (OPTT) announced a planned 12-month PowerBuoy lease with the Stanford Doerr School of Sustainability to support marine research.
The arrangement would transfer the lease from the Naval Postgraduate School while keeping the system deployed in Monterey Bay, California. Researchers plan to extend field deployment and data collection at Hopkins Marine Station. The lease includes the PowerBuoy, three-point mooring hardware and OPT’s Maritime Domain Awareness System. OPT’s New Jersey engineering team will provide remote monitoring, diagnostics and maintenance throughout the lease.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned 12-month lease with Stanford Doerr School of Sustainability would continue use of the deployed PowerBuoy.
- Minor point. Forward-looking: it has not happened yet and may not happen.Joint research with the Naval Postgraduate School will be supported under a Cooperative Research and Development Agreement.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.Lease transfer to Stanford remains a planned arrangement.
Key Figures
- Lease term
- 12 months
- Lease of the deployed PowerBuoy system to Stanford Doerr School of Sustainability
Historical Context
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The order noted an existing OPT PowerBuoy deployed in Monterey Bay for research.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Planned 12-month lease would continue use of Monterey Bay platform for university research
MONROE TOWNSHIP, N.J., Nov. 09, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) today announced a 12-month lease agreement with the Stanford Doerr School of Sustainability for the PowerBuoy® system currently deployed in Monterey Bay, California, to support marine research.
The system was previously leased to the Naval Postgraduate School (NPS) in support of field experimentation exercises. The planned arrangement would transfer the system’s lease to the school while retaining its current deployment location. Researchers plan to use the platform to extend field deployment and data collection at Hopkins Marine Station.
The leased system includes the PowerBuoy, three-point mooring hardware, and OPT’s Maritime Domain Awareness System (MDAS). OPT’s engineering team in New Jersey will provide remote buoy monitoring, diagnostics, and maintenance throughout the lease. Procurement and integration of third-party research instruments or payloads would be addressed under separate arrangements.
OPT’s PowerBuoy will support joint research under a Cooperative Research and Development Agreement with the Naval Postgraduate School. This joint effort is a collaborative project and one of several efforts resulting from the Integrated Ocean Science and Technology Workshop held with NPS earlier this year. These projects are part of the continuing effort to develop impactful solutions under an Educational Partnership Agreement between the school and NPS.
“Providing offshore infrastructure and technical support allows Stanford’s researchers to focus on their scientific work, and we are proud to help advance their mission,” said Tracy Pagliara, Acting President and CEO of OPT.
“The transition from NPS to the Stanford Doerr School of Sustainability’s Hopkins Marine Station demonstrates the continuing value of keeping the PowerBuoy in Monterey Bay, providing power, communications, and a base for field operations, backed by our engineering team’s remote monitoring, diagnostics, and maintenance,” said Jason Weed, Chief Operating Officer of OPT. “That continuity is central to our commercial model: durable ocean infrastructure that supports successive research programs.”
About Ocean Power Technologies
Ocean Power Technologies, Inc. (NYSE American: OPTT) provides intelligent maritime systems and services for defense and security, offshore energy, science and research, and offshore wind. Its PowerBuoy® platforms deliver clean, renewable power and real-time data communications for remote maritime and subsea applications. The company also offers the WAM-V® autonomous surface vehicle and Merrows™ software for multi-domain awareness. For more information, visit www.oceanpowertechnologies.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated use of OPT’s PowerBuoy platform to support the Stanford Doerr School research, planned deployment and research activities, and expected platform capabilities. These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated, including changes in research scope, funding, or scheduling; the parties’ ability to complete deployment and integration of research instrumentation; technical performance, environmental conditions, and operational risks; and other factors described in OPT’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. OPT undertakes no obligation to update these forward-looking statements, except as required by law.
Media Contacts
Ocean Power Technologies
Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Ocean Power Technologies’ planned PowerBuoy lease with Stanford?
The planned 12-month lease would transfer the Monterey Bay PowerBuoy lease from the Naval Postgraduate School to the Stanford Doerr School of Sustainability. The system would remain at its current location to support researchers’ planned field deployment and data collection at Hopkins Marine Station.
Does OPT’s Stanford PowerBuoy lease include third-party research instruments?
Procurement and integration of third-party research instruments or payloads would be addressed under separate arrangements.