reports
Ocean Power Technologies Successfully Demonstrates Counter Unmanned Un...
Ocean Power Technologies Successfully Demonstrates Counter Unmanned Underwater Vehicle Capability Results of Successful Demonstrations will be presented at the International Mine Warfare Technology Symposium MONROE TOWNSHIP, N.J., May 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed successful demonstrations of a Counter Unmanned Underwater Vehicle (“CUUV”) WAM-V capability. Recent demonstrations at th...
Ocean Power Technologies Announces Renewable Energy Production Milesto...
Ocean Power Technologies Announces Renewable Energy Production Milestone Approaches 15MWh of Renewable Energy Production MONROE TOWNSHIP, N.J., May 13, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it is approaching 15MWh of renewable energy production from its family of PowerBuoys ® (“PB”). The recent launch of its Next Generation PB off the coast of New Jersey has materially accelerated average energy production by co...
Ocean Power Technologies Successfully Demonstrates Advanced AI Solutio...
Ocean Power Technologies Successfully Demonstrates Advanced AI Solutions in the North Atlantic Completes Several Customer Field Demonstrations in Support of Sales Activities MONROE TOWNSHIP, N.J., May 06, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed multiple offshore demonstrations for potential customers of its Artificial Intelligence capable Maritime Domain Awareness Solution, Merrows. These demonstr...
Ocean Power Technologies Awarded Multi-Year NOAA ProTech Oceans IDIQ C...
Ocean Power Technologies Awarded Multi-Year NOAA ProTech Oceans IDIQ Contract Early Potential Upside for Substantial Revenue Per Year MONROE TOWNSHIP, N.J., April 30, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced its selection as part of a team awarded the National Oceanic and Atmospheric Administration's (NOAA) Professional, Scientific, and Technical Services (ProTech) Oceans Domain Indefinite Delivery Indefinite Quant...
- Shawn Severson
Announces MDAS Agreement with a Major International Defense Contractor
OPT has entered into a teaming agreement with a major international defense contractor to offer OPT’s Merrows suite of solutions in specific international regions. The partnership aims to improve maritime domain awareness through OPT’s Maritime Domain Awareness Solution (MDAS). The agreement grants the defense contractor exclusive rights to sell MDAS in certain areas. The defense contractor’s capabilities will be strengthened through the integration of OPT’s MDAS suite of solutions. The collabor...
Ocean Power Technologies Announces Participation in NATO Digital Ocean...
Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium MONROE TOWNSHIP, N.J., April 17, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that Chief Commercial Officer, Matt Burdyny, will be presenting at the NATO Digital Ocean Industry Symposium on April 17th, at NATO Headquarters in Brussels, Belgium. The NATO Digital Ocean Industry Symposium is a landmark initiative aimed at enhancing ...
Ocean Power Technologies Announces Teaming Agreement with Major Intern...
Ocean Power Technologies Announces Teaming Agreement with Major International Defense Contractor to Deploy Maritime Domain Awareness Solutions MONROE TOWNSHIP, N.J., April 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed a teaming agreement with a major international defense contractor to provide its Merrows suite of solutions with a focus on certain geographic regions. This alliance is set to advance marit...
- Shawn Severson
Strategic Alliance with Red Cat
Ocean Power Technologies (OPT) and Red Cat Holdings are forming a strategic alliance to improve maritime defense and security. OPT’s ocean-powered platforms (PowerBuoy and WAM-V) will be integrated with Red Cat’s Teal 2 drones. This will provide real-time data and extend the range of surveillance missions. Additionally, this will increase maritime domain awareness through air, sea, and subsea surveillance. By taking to the skies, Red Cat’s Teal 2 drones, equipped with superior night vision, sign...
Ocean Power Technologies Announces Strategic Alliance with Red Cat for...
Ocean Power Technologies Announces Strategic Alliance with Red Cat for Advanced Maritime Defense Solutions Strengthening Maritime Security: Ocean Power Technologies Integrates Red Cat’s Aerial Drones for Cutting-Edge Intelligence, Surveillance, and Reconnaissance Capabilities MONROE TOWNSHIP, N.J., April 08, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced a strategic alliance with Red Cat Holdings, Inc. (Nasdaq: RCAT) (“R...
- Shawn Severson
"Merrows" - Maritime Domain Awareness Solution
Ocean Power Technologies (OPT), a company specializing in marine power and data solutions, announced a new initiative called Merrows. A major hurdle in maritime security is maintaining awareness of everything happening in and around our oceans. This requires collecting and transmitting vast amounts of data. Merrows is designed to be a comprehensive maritime domain awareness (MDA) system aimed at improving security and surveillance in oceans. Merrows integrates various technologies, including roa...
Ocean Power Technologies Announces “Merrows”: A Consolidated Solution ...
Ocean Power Technologies Announces “Merrows”: A Consolidated Solution for Maritime Domain Awareness Ocean Security is National Security™ Services for the Defense, National Security, and Offshore Industries MONROE TOWNSHIP, N.J., April 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced Merrows, a projected significant instep forward to enhance maritime domain awareness (MDA) and underline the critical importance of ocean ...
Ocean Power Technologies Secures $1.5 Million in Purchase Orders for W...
Ocean Power Technologies Secures $1.5 Million in Purchase Orders for WAM-V USV's in Latin America OPT's Landmark Orders in Latin America Support Path to Profitability and Open up Region for Additional Growth MONROE TOWNSHIP, N.J., March 26, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the largest quantity order in the company’s history, marking a significant commercial milestone. A valued customer engaged in the offsho...
- Shawn Severson
3QFY24 Results: OPT on Track for Profitability with Funding and New Or...
Ocean Power Technologies reported 3QFY24 revenue of $1.8 million, up 144% Y/Y from $0.7 million in 3QFY23, driven by sales of WAM-V autonomous vehicles and the contract with the Department of Energy. The company has an order book of $3.4 million YTD and growing, with backlogs standing at $3.3 million as of January 31, 2024. The company reported 3QFY24 gross profit of $0.8 million, compared with a profit of $0.1 million in 3QFY23. Gross margin continued its improving trend, driven by the unmanned...
Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2024 Res...
Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2024 Results Continued Growth in Pipeline, Revenue, and Gross Profit Reported MONROE TOWNSHIP, N.J., March 13, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal third quarter ended January 31, 2024 (“Q324”), including year over year revenue, gross profit, and pipeline growth. Financial Highlights from the third quarter: The Company’s pipeline at January 31, 2024 (“Q324”) was approximately $77 million, representing a 5.5x y...
Ocean Power Technologies to Report fiscal 2024 Third Quarter Results o...
Ocean Power Technologies to Report fiscal 2024 Third Quarter Results on March 13, 2024 MONROE TOWNSHIP, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2024 third quarter for the period ended January 31, 2024, results after the market closes on Wednesday March 13, 2024. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT’s financial results will be Thursda...
Ocean Power Technologies to Report fiscal 2024 Third Quarter Results o...
Ocean Power Technologies to Report fiscal 2024 Third Quarter Results on March 13, 2024 MONROE TOWNSHIP, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2024 third quarter for the period ended January 31, 2024, results after the market closes on Wednesday March 13, 2024. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT’s financial results will be Thursda...
Ocean Power Technologies Receives Funding for AT&T 5G-Enabled PowerBuo...
Ocean Power Technologies Receives Funding for AT&T 5G-Enabled PowerBuoy® Deployment in Monterey Bay 5G at Sea: Innovative Partnership with Naval Postgraduate School Ushers in New Era of Maritime Technology and Connectivity MONROE TOWNSHIP, N.J., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it has received funding from the Naval Postgraduate School (NPS) in Monterey, California, for the year-long deploymen...
Ocean Power Technologies Secures Orders Exceeding $1.25 Million for Fu...
Ocean Power Technologies Secures Orders Exceeding $1.25 Million for Fully Integrated WAM-V Unmanned Surface Vehicles Surge in Demand for Innovative Maritime Solutions Drives Significant Orders for OPT's Cutting-Edge WAM-V USVs MONROE TOWNSHIP, N.J., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has received multiple orders for fully integrated WAM-V Unmanned Surface Vehicles (USVs) totaling over $1.25 millio...
Ocean Power Technologies Announces $1.2 million award from the New Jer...
Ocean Power Technologies Announces $1.2 million award from the New Jersey Economic Development Authority (NJEDA) Net Operating Loss (NOL) Program MONROE TOWNSHIP, N.J., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has been awarded approximately $1.2 million under the 2023 Technology Business Tax Certificate Transfer Program, commonly known as the . This program enables technology and life sciences businesse...
Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vo...
Leading Independent Proxy Advisory Firm ISS Recommends Shareholders Vote ONLY on the WHITE Proxy Card “FOR” All of Ocean Power Technologies Board Nominees OPT Urges All Holders to Vote ONLY on the WHITE Proxy Card Today “FOR” All the Company’s Board Nominees and Other Proposals MONROE TOWNSHIP, N.J., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that leading proxy advisory firm Institutional Shareholder Services...
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