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, ...

Core Insights - Ocean Power Technologies, Inc. has successfully installed its PowerBuoy system for the Naval Postgraduate School, integrating AT&T 5G technology for enhanced Maritime Domain Awareness [1][2][3] Group 1: Technology and Innovation - The PowerBuoy system is equipped with advanced subsea sensors and the proprietary Merrows™ suite, designed for AI-capable integration across various platforms [2][5] - This deployment allows for continuous, autonomous monitoring and data collection in strategically significant maritime regions [2][3] Group 2: Strategic Partnerships - The collaboration with AT&T highlights the potential of PowerBuoys to function as 5G communication nodes along the U.S. coastline, supporting national defense and maritime security [4][5] - AT&T's involvement emphasizes the modernization of network infrastructure to support future technologies in naval platforms [4] Group 3: Business Growth and Market Position - The installation marks a significant milestone in the execution of the company's strategic plan to provide advanced offshore infrastructure for defense, security, and research missions [3][4] - The demand for rapidly deployable maritime systems is expected to accelerate the growth of the company's services business [4]

Core Viewpoint - Ocean Power Technologies Inc has been awarded a patent for integrated offshore charging systems, which will enhance the operational capabilities of autonomous surface and underwater vehicles, improving mission endurance and flexibility [1][3]. Group 1: Technology and Innovation - The newly awarded patent allows for the deployment of charging systems in the ocean, enabling autonomous vehicles to recharge and transfer data, similar to the early days of electric vehicles [3]. - The integration of floating charging stations with existing technologies like PowerBuoy and WAM-V will allow for a variety of operational capabilities, including long-duration missions with higher payloads and speeds [4]. Group 2: Commercialization Efforts - The company has deployed a high-fidelity prototype off the coast of New Jersey and is currently working on commercialization, with plans for pilot deployments with partners and government agencies [2][5]. - Ongoing discussions with government agencies and commercial partners are part of the strategy to bring the integrated solution to market [2]. Group 3: Intellectual Property Strategy - The patent is considered a critical component of the company's innovation strategy, helping to differentiate it from competitors and protect its intellectual property as it scales globally [6].

MONROE TOWNSHIP, N.J., June 26, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (OPT or the “Company”) (NYSE American: OPTT), a leader in innovative and sustainable marine energy and data solutions, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for its U.S. patent application titled “System and Method for Vehicle Charging.” The newly allowed patent (Application No. 18/936,528) protects OPT’s breakthrough system for an autonomous, floating ...

MONROE TOWNSHIP, N.J., June 04, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative, cost-effective, low-carbon and artificial intelligence maritime services that enable safer and more productive ocean operations and related power, data, and service solutions, today announced the hiring of Jason Weed as Senior Vice President – Commercial Sales. Mr. Weed is a strategic leader and retired U.S. Navy Captain with over 15 years of executi ...

Core Insights - Zacks Investment Research has initiated coverage of Ocean Power Technologies, Inc. (OPTT) with a "Neutral" recommendation, emphasizing both the company's emerging strengths and significant execution risks it faces [1] Company Overview - Ocean Power Technologies, based in New Jersey, specializes in autonomous maritime solutions and has achieved a record-high backlog of $7.5 million, driven by global demand for its AI-enabled PowerBuoy and WAM-V platforms [2] - The company is transitioning to a recurring revenue model through "Data as a Service" and "Robotics as a Service," which aims to enhance margins, improve cash flow predictability, and promote customer retention [2] Financial Performance - Financial discipline is improving, with OPTT reducing its operating cash burn by 41% over the first nine months of fiscal 2025 and enhancing liquidity to $10.2 million [3] - For the first nine months of fiscal 2025, OPTT reported a net loss of $15.1 million, although liquidity has improved [5] - The company has doubled its share count over the past year by issuing more than 100 million shares to fund operations, which may limit future upside for existing shareholders [6] Market Positioning - OPTT's proprietary autonomous maritime systems integrate AI for real-time monitoring and vehicle control, providing competitive advantages in various applications, including environmental monitoring and defense surveillance [4] - The recent demonstration of the WAM-V 22 platform operating autonomously for multiple days indicates growing technical maturity and market readiness [4] Stock Performance - Shares of Ocean Power have surged over 240% in the past six months, significantly outperforming both the Zacks Alternative Energy – Other subindustry and broader market indices [7] - Despite the stock rally, concerns remain regarding the company's ongoing losses, high customer concentration, and reliance on equity-linked financing [7] Additional Information - The full Zacks research report offers a comprehensive analysis of Ocean Power's financial health, strategic initiatives, and market positioning, providing insights into potential risks and opportunities [8]

Core Insights - Ocean Power Technologies, Inc. (OPT) has been recognized as one of the initial certified operators under the AUVSI Trusted UMS Operator Program, highlighting its commitment to operational excellence in autonomous maritime solutions [1][2][3] Group 1: Certification and Commitment - The AUVSI Trusted UMS Operator Program aims to establish high standards for training, proficiency, and safety in the operation of uncrewed maritime systems [2] - OPT's certification underscores its dedication to safety, operational rigor, and workforce training in deploying uncrewed technologies in challenging maritime environments [3] - The Trusted Operator designation provides a framework for standardizing skills and practices across the industry, helping stakeholders identify operators who meet high performance and accountability standards [3] Group 2: Company Overview and Services - OPT specializes in intelligent maritime solutions that enhance safety, cleanliness, and productivity in ocean operations across various sectors, including defense, security, oil and gas, science and research, and offshore wind [4] - The company offers products such as Merrows™, which integrates AI for Maritime Domain Awareness Systems, and PowerBuoy® platforms that provide clean electric power and real-time data communications for remote maritime applications [4]

Group 1 - Ocean Power Technologies, Inc. has successfully completed its first WAM-V 22 sea trials for a significant customer operating in Sub Saharan Africa, conducted at its newly permitted test site in Southern New Jersey [1][2] - The completion of these sea trials allows the company to conduct year-round testing on both the East and West Coasts, facilitating quicker product delivery and reducing the time from booking to revenue recognition [2] - Ocean Power Technologies specializes in intelligent maritime solutions, including AI-capable systems for maritime domain awareness, PowerBuoy platforms for clean energy, and WAM-V unmanned surface vehicles [3]

Core Viewpoint - Ocean Power Technologies, Inc. (OPT) is strategically positioned to navigate global supply chain challenges due to its majority domestic supply chain and resilient workforce [1][2]. Supply Chain and Operations - OPT confirms that its inventory levels and procurement practices remain unaffected by recent global developments impacting logistics and raw material availability [2]. - The company does not anticipate any material impact on inventory costs and continues to fulfill customer commitments on schedule [2]. - The strong domestic supply chain is highlighted as a key differentiator for OPT, especially during times of global economic uncertainty [3]. Workforce and Collaboration - OPT maintains a fully U.S.-based workforce, with over 20% being veterans, while effectively collaborating with international partners [3]. - This workforce structure enables the company to remain agile, responsive, and competitive across both defense and commercial energy sectors [3]. Market Demand - There is an increasing demand for dual-use technologies that serve both defense and renewable energy applications in domestic and international markets [3]. - OPT's supply chain strategy and operational footprint are designed to meet this growing demand while maintaining high standards of quality, security, and delivery performance [3]. Commitment to Manufacturing - The company's commitment to U.S. manufacturing and engineering excellence is central to its ability to support mission-critical applications for customers globally [4]. Product and Service Offerings - OPT provides intelligent maritime solutions and services for various markets, including defense, oil and gas, science and research, and offshore wind [5]. - Key products include Merrows™ for AI integration of Maritime Domain Awareness Systems, PowerBuoy® platforms for clean electric power, and WAM-V® autonomous surface vessels [5].