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Ocean Power Technologies Highlights Marine Energy Leadership in Testimony Before New Jersey Legislature
Globenewswire· 2025-08-14 20:15
Core Insights - Ocean Power Technologies, Inc. (OPT) is actively participating in shaping the future of marine energy in New Jersey through a joint hearing with state lawmakers, emphasizing the importance of tidal and wave energy [1][2] - The company’s proprietary technologies, including PowerBuoy systems and WAM-V autonomous surface vehicles, are positioned to provide clean energy and environmental monitoring, showcasing New Jersey's potential as a leader in the marine energy sector [2][4] Company Developments - OPT recently achieved a significant milestone with the installation of an AI-capable Merrows™ PowerBuoy for the Naval Postgraduate School, integrating advanced technology for continuous monitoring and real-time data applications [3] - The company’s President and CEO, Philipp Stratmann, highlighted the strategic advantages of New Jersey, including its coastline and industrial base, which could support a global leadership position in marine energy if backed by appropriate policies [2][4] Industry Context - Stratmann called for accelerated actions from lawmakers to foster industry collaboration and enable real-world testing within state waters, which could drive innovation and create high-value jobs while enhancing climate resilience and national security [4] - OPT's offerings include intelligent maritime solutions that cater to various sectors such as defense, oil and gas, and offshore wind, indicating a broad market application for its technologies [6]