About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Core Insights - Ocean Power Technologies, Inc. has shipped a WAM-V Unmanned Surface Vehicle to the UAE, following a partnership with Unique Group, an offshore services provider [1][2] - The WAM-V will be showcased at the ADIPEC event in Abu Dhabi, which will feature over 2,200 organizations from the global energy sector [1] - The CEO of OPT expressed optimism about increasing demand for services in the Middle East, particularly in the UAE, and anticipates meeting potential customers at ADIPEC [2] Company Overview - Ocean Power Technologies specializes in low-carbon marine power solutions, providing services for various sectors including defense, oil and gas, science, research, and offshore wind [3] - The company offers products such as PowerBuoy platforms for clean electric power and real-time data communications, as well as WAM-V autonomous surface vessels [3] - The headquarters is located in Monroe Township, New Jersey, with an additional office in Richmond, California [3]

MONROE TOWNSHIP, N.J., Oct. 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 signed an agreement with 3B General Trading & Contracting Co. W.L.L. (3B) to explore projects in the offshore energy and maritime industry in Kuwait, including deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equ ...

Group 1 - Ocean Power Technologies, Inc. has confirmed a shipment of its AI capable Merrows™ PowerBuoy® to a customer in the Middle East [1] - The company specializes in low-carbon marine power solutions and provides services for various sectors including defense, oil and gas, science and research, and offshore wind [2] - The Merrows™ PowerBuoy® integrates Maritime Domain Awareness Systems and offers clean electric power and real-time data communications for remote maritime applications [2] Group 2 - Ocean Power Technologies is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [2] - The company also offers WAM-V® autonomous surface vessels and marine robotics services [2]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Core Points - Ocean Power Technologies, Inc. has received a preliminary award of $1.1 million under the NJEDA 2024 Technology Business Tax Certificate Transfer Program, which allows technology and life sciences businesses to monetize net operating losses and unused R&D tax credits [1][2] - The company participated in the NJEDA NOL program in the previous year, receiving a $1.2 million award for the 2023 program, highlighting the importance of these funds in its path to profitability [2] - The award signifies the potential value of the company's net operating losses and unused R&D tax credits, emphasizing the need to preserve these assets for future monetization opportunities [2] Company Overview - Ocean Power Technologies provides innovative maritime solutions and services aimed at enhancing safety, cleanliness, and productivity in ocean operations across various sectors, including defense, oil and gas, science, research, and offshore wind [4] - The company's offerings include the Merrows™ system for AI integration of Maritime Domain Awareness Systems, PowerBuoy® platforms for clean electric power and data communications, and WAM-V® autonomous surface vessels [4] - The headquarters is located in Monroe Township, New Jersey, with an additional office in Richmond, California [4]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

MONROE TOWNSHIP, N.J., Sept. 27, 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 shipped for prompt delivery multiple WAMVs on a previously announced sole source contract to a Department of the US Government. Delivery of the vehicles leads to revenue recognition. Due to the sensitive nature of this relationship, terms have not been dis ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

MONROE TOWNSHIP, N.J., Sept. 25, 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 Memorandum of Understanding (MOU) with Serviço Nacional de Aprendizagem Industrial (SENAI Innovation Institute for Virtual Production Systems from Firjan) in Brazil to explore collaborating together toward Blue Economy opportunities including depl ...