Ocean Power Tech Stock Price, News & Analysis

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.

Ocean Power Technologies (NYSE American: OPTT) has signed a strategic reseller agreement with Elektron SAS, a Colombia-based specialist in hydrographic and oceanographic instrumentation services. The partnership includes a $4 million purchase commitment for OPT's maritime technologies, including WAM-V® Unmanned Surface Vehicles, Next Generation PowerBuoy®, and AI-powered Merrows™ platform.

The agreement enables Elektron to provide sales, integration, and support services across Latin America, significantly expanding OPT's commercial presence in the region. This partnership aligns with OPT's strategy of global expansion through strategic partnerships and channel-driven growth in high-potential markets.

Ocean Power Technologies (NYSE American: OPTT) has signed a reseller agreement with Grava Hydrographic Solutions to expand the distribution and support of its WAM-V® Unmanned Surface Vehicle technology across the United States.

The partnership aims to leverage Grava Hydro's expertise in hydrographic services and established customer relationships to enhance the deployment of WAM-V technology in real-world environments. This agreement is part of OPT's broader strategy to scale access to its marine robotics portfolio through trusted channel partners, focusing on maritime data collection, survey operations, and coastal monitoring applications.

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.