Ocean Power Tech Stock Price, News & Analysis

Ocean Power Technologies (NYSE American: OPTT) has received a USPTO Notice of Allowance for its patent application "System and Method for Vehicle Charging." The patent covers an innovative autonomous floating marine charging solution that enables electric vessels to locate, dock with, and recharge from floating energy platforms at sea.

The technology integrates with OPT's PowerBuoy® platform, creating a power generation and recharging hub for WAM-V® autonomous surface vehicles. Key features include signal-emitting guidance systems, flexible mooring structures, wired/wireless energy delivery, and wave-powered self-sustaining energy generation. This advancement aims to enable extended maritime operations without shore returns.

Ocean Power Technologies (NYSE: OPTT) has appointed Jason Weed as Senior Vice President of Commercial Sales. Weed brings over 15 years of executive leadership experience, including his recent role at Leidos' Maritime Systems Division and a 34-year Navy career where he served as Commodore of the Navy's first Uncrewed Undersea Vehicle Squadron. His background includes significant achievements in AI/ML technologies and maritime operations. Weed succeeds Matt Burdyny and receives an inducement award of 650,000 restricted share units, with 500,000 units vesting equally over two years and 150,000 units subject to performance conditions. The appointment aligns with OPT's strategy to expand its presence in the defense and security markets.

Ocean Power Technologies (NYSE: OPTT) has achieved certification as one of the first operators under the AUVSI Trusted UMS Operator Program. This new certification program, launched by the Association for Uncrewed Vehicle Systems International (AUVSI), establishes standards for training, proficiency, and safety in uncrewed maritime systems operations.

The certification validates OPT's expertise in autonomous maritime operations and reinforces its position as a trusted provider of uncrewed systems. According to CEO Philipp Stratmann, this recognition demonstrates the company's commitment to safety, operational excellence, and workforce training in maritime environments. The Trusted Operator designation helps customers identify operators meeting high performance and accountability standards, complementing OPT's focus on quality across its buoy and autonomous surface vehicle solutions.

Ocean Power Technologies (NYSE: OPTT) has successfully completed its first WAM-V® 22 sea trials at its newly permitted test site in Southern New Jersey. The trials were conducted for a customer with significant operations in Sub Saharan Africa, following site visits and operational reviews by the US Coast Guard. The company's CEO, Philipp Stratmann, highlighted that this achievement enables OPT to conduct year-round testing on both East and West coasts, streamlining product delivery to customers and reducing time from booking to revenue recognition.

Ocean Power Technologies (NYSE: OPTT), a provider of low-carbon marine power solutions, has announced a fireside chat scheduled for Tuesday, May 6, 2025, at 11 a.m. ET. During the event, CEO Dr. Philipp Stratmann will discuss the company's recent performance, progress, and future prospects. The presentation will not include a Q&A session. A replay will be available in the Investors section of OPT's website under "Events and Presentations" at investors.oceanpowertechnologies.com.

Ocean Power Technologies (NYSE: OPTT) has secured a contract to deliver multiple WAM-V® unmanned surface vehicles to Allied Forces. The contract, scheduled for delivery in late Spring 2025, includes vehicles, integrated sensors, and operators under a contractor-owned contractor-operated (COCO) model.

This agreement builds upon OPT's recent success in providing autonomous Maritime Domain Awareness, Counter Unmanned Underwater Vehicles, and Mine Counter Measure Solutions across North America, Latin America, and the Middle East. The company's WAM-V® technology serves as a cost-efficient force multiplier for surface and seabed warfare efforts.

While specific contract terms remain undisclosed due to security considerations, CEO Philipp Stratmann highlighted the dual-use nature of their technologies, enabling service to diverse customers.

Ocean Power Technologies (NYSE: OPTT) has announced the shipment of a Merrows™ capable PowerBuoy® for defense and security applications. This development follows a teaming agreement with a major international defense contractor established last year. The PowerBuoy® will be used to demonstrate system survivability and suitability for surface and subsea monitoring applications.

The shipment is part of a previously announced binding letter of intent and aims to showcase the company's intelligence, surveillance, and reconnaissance solutions. CEO Philipp Stratmann expressed confidence in the project's potential to advance maritime security capabilities globally through partnership efforts.

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

Ocean Power Technologies (NYSE American: OPTT) has secured a new contract from an international government customer for a fully integrated WAM-V system with near-term delivery requirements. The contract represents an expansion of OPT's presence in international markets, particularly in Latin America and the Middle East.

The company will begin immediate assembly and shipping of the vehicle, with training and services to be provided in the customer's country. CEO Philipp Stratmann highlighted this contract as evidence of growing market demand for OPT's systems, emphasizing the company's success in converting pipeline opportunities into backlog and driving further growth.