$1.5M Coast Guard order boosts Ocean Power Technologies (OPTT) buoy deployment
Rhea-AI Filing Summary
Ocean Power Technologies, Inc. reported new operational milestones and a fresh government contract. The company shipped a WAM-V® autonomous surface vehicle to Greece, expanding its international deployments, and advanced its offshore docking and charging program from prototype to full-scale build toward a planned 2026 early access launch.
OPT also highlighted progress in autonomous navigation through its collaboration with Mythos AI. Separately, the company received an approximately $1.5 million U.S. Coast Guard order to install and deploy previously ordered buoy systems, which is expected to contribute to near-term revenue once the systems are fielded and enter active service.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
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Item 8.01 Other Events.
On February 23, 2026, Ocean Power Technologies, Inc. (the “Company”) issued a press release providing an operational update on global deployments and infrastructure development. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
On February 24, 2026, the Company issued a press release announcing an order from the United States Coast Guard for the installation and deployment of buoy systems previously ordered. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
| Exhibits | ||
| 99.1 | Press release dated February 23, 2026. | |
| 99.2 | Press release dated February 24, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Ocean Power Technologies, Inc. | |
| Dated: February 24, 2026 | /s/ Philipp Stratmann |
| Philipp Stratmann | |
| President and Chief Executive Officer | |
Exhibit 99.1
Ocean Power Technologies Provides Operational Update on Global Deployments and Infrastructure Development
MONROE TOWNSHIP, N.J., February 23, 2026 — Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT) today provided an operational update highlighting continued global deployments and progress on its offshore autonomy infrastructure roadmap.
The Company has shipped a WAM-V®, autonomous surface vehicle to Greece to support ongoing customer operations and field activity in the region. This deployment expands OPT’s international operational footprint and reflects continued engagement across defense and commercial maritime markets.
In parallel, OPT has transitioned its integrated docking and charging program from prototype to a full-scale build, including autonomous docking and redeployment.
The Company has placed orders for components to support system integration and open-water validation as it advances toward its first early access commercial solution targeted for launch in 2026. This capability is designed to enable autonomous systems to dock, recharge, and redeploy in support of persistent offshore operations and as part of a future maritime recharging network.
OPT has also continued to advance its autonomous navigation and control capabilities through its collaboration with Mythos AI. Recent progress has strengthened perception, decision-making, and autonomous functionality required for reliable, repeatable maritime operations in dynamic environments.
“Our focus remains on disciplined execution across deployments, government programs, and infrastructure development,” said Philipp Stratmann, Chief Executive Officer of Ocean Power Technologies. “We are advancing the core capabilities required to support scalable, persistent maritime autonomy for defense and commercial customers.”
For more information about 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® unmanned surface vehicles (USV’s) and marine robotics services. The Company’s headquarters is located 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 ultimate success of the Company’s integrated docking and charging program and its collaboration with Mythos AI and the performance of the WAM-V® shipped to Greece. 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.
Exhibit 99.2
Ocean Power Technologies Receives Approximately $1.5 Million
U.S. Coast Guard Order for Installation and Deployment of Operational Buoy Systems
MONROE TOWNSHIP, N.J., February 24, 2026 — Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), today announced it has received an approximate $1.5 million Purchase Order from the United States Coast Guard (USCG) for the installation and deployment of buoy systems previously ordered.
This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions. The Company expects this order to contribute to near-term revenues as installation and deployment activities commence.
Under the scope of work, OPT will execute deployment, commissioning, and operational activation to ensure the systems are fully integrated and mission ready. The buoys are expected to enter active service shortly following installation.
Jason Weed, SVP Commercial Sales, noted “OPT’s expanding focus on defense and security has enabled us to engage more deeply with our customers, gain a clearer understanding of their evolving mission challenges, and deliver innovative solutions that were previously unavailable.
This
strategic emphasis is directly aligned with the updated doctrine of the U.S. Department of Homeland Security and the U.S. Department
of Defense to further strengthen Homeland Defense.”
The systems are designed to provide persistent offshore presence, enhancing surveillance, situational awareness, and operational effectiveness
in demanding maritime environments. OPT’s responsibility spans manufacturing through installation and in-field support, ensuring
continuity from delivery to operational performance.
This
order reinforces OPT’s position as a trusted partner supporting Coast Guard and DHS objectives while driving meaningful near-term
revenue impact.
For more information about 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® unmanned surface vehicles (USV’s) and marine robotics services. The Company’s headquarters is located 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. Actual results, including the performance of the PowerBuoys®, 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 did Ocean Power Technologies (OPTT) disclose in this 8-K filing?
How large is the new U.S. Coast Guard order for Ocean Power Technologies (OPTT)?
What operational progress did Ocean Power Technologies (OPTT) report on its autonomy infrastructure?
How is Ocean Power Technologies (OPTT) expanding its international presence?
What role does the Mythos AI collaboration play for Ocean Power Technologies (OPTT)?
How will the Coast Guard buoy order affect Ocean Power Technologies (OPTT) operations?
Filing Exhibits & Attachments
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