Welcome to our dedicated page for Ocean Power Tech news (Ticker: OPTT), a resource for investors and traders seeking the latest updates and insights on Ocean Power Tech stock.
Ocean Power Technologies, Inc. (OPTT) generates news around intelligent maritime systems, low-carbon marine power, and autonomous ocean operations. As a NYSE American-listed company focused on defense and security, offshore energy, and research markets, its announcements often highlight new contracts, technology deployments, and strategic partnerships that shape its role in maritime domain awareness and uncrewed systems.
Recent news has included a multi-buoy contract greater than $5 million to deploy MERROWS®-equipped PowerBuoy® systems in support of a U.S. Coast Guard mission under the U.S. Department of Homeland Security, providing persistent maritime domain awareness off the coast of San Diego, California. Other releases describe shipments of WAM-V® unmanned surface vehicles to partners in the United Arab Emirates, expansion of regional operations, and a Master Services Agreement with Unique Group for non-defense WAM-V® projects in the UAE.
Investors and industry followers can also find updates on partnerships such as the collaboration with Mythos AI to integrate AI-driven autonomy across WAM-V® ASVs and PowerBuoy® platforms, and the agreement with Gradient Marine to add digital twin and simulation capabilities via the Virtual Maritime Picture software. Financial news appears through quarterly earnings releases, backlog and pipeline disclosures, and conference call announcements, while corporate developments include certifications like AUVSI Trusted Uncrewed Maritime Systems Operator Training Provider status and participation in investor conferences.
This news page for OPTT aggregates these types of updates in one place, covering contracts, deployments, partnerships, financial results, certifications, and investor events. It offers a single view into how Ocean Power Technologies is applying its PowerBuoy®, WAM-V®, Merrows™, and related technologies across defense, offshore energy, and commercial maritime applications over time.
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.
Ocean Power Technologies (NYSE: OPTT) has announced the sale of a Wave Adaptive Modular Vessel (WAM-V®) to an undisclosed mining customer in Latin America, marking its expansion into a new industry sector. The WAM-V® will be utilized for bathymetry surveys related to mining operations.
The sale represents a strategic milestone for OPT, demonstrating the versatility of their autonomous surface vessel (ASV) technology beyond traditional markets. The WAM-V® platform is notable for its stability, lightweight design, and modular architecture, enabling quick adaptation to various mission requirements. It can be launched from almost anywhere and operate in diverse sea conditions with minimal environmental impact.
CEO Philipp Stratmann emphasized that this deployment showcases the WAM-V®'s adaptability for both offshore and onshore applications where floating systems are required.
Ocean Power Technologies (NYSE American: OPTT) has secured a contract for immediate delivery of a PowerBuoy® system in the USA. The buoy, set for deployment on the East Coast, will be capable of integrating surface and subsea sensors with AI capabilities.
While specific details remain confidential, CEO Philipp Stratmann highlighted this as a revenue-generating contract, emphasizing the company's growth in both PowerBuoy® and WAM-V® business segments. The company positions its proven technology solutions as enabling persistent and resident monitoring for research and security applications.
Ocean Power Technologies (OPTT) reported Q3 FY25 financial results with mixed performance. The company achieved a record backlog of $7.5 million, up from $3.3 million year-over-year, driven by new Latin American partnerships worth $5 million in purchase orders.
Q3 revenue decreased to $0.8 million from $1.8 million year-over-year, while operating expenses reduced by 29% to $6.1 million. The company significantly improved cash management, reducing cash used in operating activities by 59% to $3.7 million from $9.2 million.
Notable operational highlights include successful WAM-V autonomous capability demonstrations in California, participation in NAVDEX 2025 alongside UAE partner Remah International Group, and strategic expansion in government contracting sectors through new sales personnel.
Ocean Power Technologies (NYSE: OPTT) has secured a new contract from a European Offshore Services Provider for a fully integrated WAM-V® unmanned surface vehicle (USV). The contract marks OPTT's expansion into the European Union market, adding to its presence in the United States, Latin America, and the Middle East.
The company will begin immediate assembly of the WAM-V® for near-term delivery, with training and services to be provided in the customer's country. CEO Philipp Stratmann highlighted that this contract demonstrates market demand for their systems, particularly in defense, security, autonomous survey, and offshore construction applications.
Ocean Power Technologies (NYSE: OPTT) has secured a binding letter of intent to deploy a PowerBuoy® system for an undisclosed defense customer. The deployment aims to demonstrate the system's survivability and suitability for multidomain defense and security applications in extreme sea conditions.
This development follows a previous teaming agreement with a major international defense contractor to provide OPTT's Merrows™ suite of solutions in specific geographic regions. The project focuses on advancing intelligence, surveillance, and reconnaissance capabilities for maritime security applications.
Ocean Power Technologies (NYSE American: OPTT) successfully demonstrated its defense and security capabilities at NAVDEX in Abu Dhabi in partnership with Remah International Group (RIG). The demonstrations featured OPT's WAM-V® Unmanned Surface Vehicles (USV), equipped with underwater sensors and aerial drone integration capabilities, alongside presentations of their Next Generation Powerbuoy® and AI-capable Merrows™ technologies.
The company showcased potential applications including autonomous anti-submarine warfare, mine counter measures support, national security applications, and maritime monitoring and intelligence solutions. Through collaboration with RIG, a UAE-headquartered company specializing in military and civilian services, OPT aims to expand its presence in the region and accelerate the adoption of autonomous, resident, persistent, and AI-capable ocean security technologies.
Ocean Power Technologies (NYSE: OPTT) announced its participation at NAVDEX in Abu Dhabi, where it will showcase its maritime technology alongside local partner Remah International Group (RIG). This follows RIG's appointment as OPTT's UAE defense and security solutions distributor in late 2024.
The exhibition will feature live demonstrations of OPTT's WAM-V® Unmanned Surface Vehicles, equipped with underwater sensors and aerial drone integration capabilities. The company will also showcase its Next Generation PowerBuoy® and AI-capable Merrows™ technologies.
RIG, which partners with global solution providers and maintains a network of 48 companies in UAE, brings extensive experience serving the UAE Armed Forces. The partnership aims to accelerate the adoption of autonomous ocean security services in the region through RIG's local industry knowledge and established presence.
Ocean Power Technologies (NYSE American: OPTT) has secured $2 million in purchase orders for Next Generation PowerBuoys® in Latin America. These PowerBuoys® combine wave, solar, and wind power generation capabilities and can be deployed in various water depths from coastal to deep ocean.
The systems support both above and below-surface payloads and can be equipped with various communication solutions. This order follows recent growth in WAM-V solutions in the region, enabling customers to add permanent monitoring and marine intelligence solutions to their existing roaming capabilities.
According to CEO Philipp Stratmann, this expansion strengthens OPT's position in Latin America and demonstrates the company's commitment to delivering marine intelligence solutions in the region.