Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North and South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in remote offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and payloads, integration services, and marine installation services. In addition, it offers electric power and real-time data communications for remote offshore and subsea applications in markets, such as offshore oil and gas, defense and security, science and research, and communications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was founded in 1984 and is headquartered in Monroe Township, New Jersey.
IPO Year: 2007
Exchange: NASDAQ
Website: oceanpowertechnologies.com
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4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
MONROE TOWNSHIP, N.J., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that concurrent with the completion of the Company's 2024 Annual Meeting of Stockholders on January 16, 2025, the OPT Board of Directors has appointed Natalie Lorenz-Anderson, Rear Admiral Joseph A. "Digger" DiGuardo and Rear Admiral Victorino "Vic" Mercado as Advisory Board Members. The Advisory Board Members will provide advice and recommendations to the OPT Board with respect to matters as the Board may from time-to-time request concerning operations, s
MONROE TOWNSHIP, NJ / ACCESSWIRE / January 9, 2025 / Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), is pleased to announce its participation in The Microcap Conference 2025, the premier event for growth-focused companies and investors. The conference will take place January 28-30, 2025, at the Borgata Hotel Spa & Casino in Atlantic City, NJ.OPT's management team will deliver a corporate presentation and engage in one-on-one meetings with institutional and individual investors to discuss the company's recent developments, growth strategy, and investment opportunities.About The Microcap Conference 2025The Microcap Conference is the largest independent microcap event in th
MONROE TOWNSHIP, N.J., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has finalized the main assembly of the previously announced PowerBuoy® for Naval Postgraduate School. The full system, which includes installing AT&T® 5G technology and integrating advanced subsea sensors into a PowerBuoy® equipped with OPT's latest Merrows™ suite for AI capable seamless integration of Maritime Domain Awareness (MDA) across platforms, is now being readied for shipment ready for deployment in early 2025 alongside the Technology Showcase
MONROE TOWNSHIP, N.J., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that as part of the Company's ongoing commitment to connecting with the investor community, it will participate in a fireside chat on Thursday, December 19, 2024, at 11:00 a.m. ET. Dr. Philipp Stratmann, President and Chief Executive Officer for OPT, will discuss the Company's recent performance and revenue growth, cost savings and expenditure reductions implemented over the past several quarters, and ongoing innovation in integrating payloads and systems
MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue: $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase.Net Loss: $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities: $4.8 million, compared to $7.5 milli
MONROE TOWNSHIP, N.J., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced a new partnership, with $3M of purchase order commitments over 36 months in Latin America. This increases by $1.5M the previously announced $1.5M of purchases orders in Latin America. The WAM-V USV's, renowned for their cutting-edge technology and versatility, will be deployed in hydrographic applications and by utilizing their adaptability and reliability will provide our customer with an unrivaled versatile multi-application solution. This landmark orde
MONROE TOWNSHIP, N.J., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the second quarter ended October 31, 2024 (Q2FY25). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its second quarter financial results and update in mid‐December. Preliminary Q2FY25 Financial Highlights(All figures are preliminary, unaudited, and subject to finalization): Revenue: Estimated to be greater than $2 million, compared to $0.9 million for the same period last year, representing a m
MONROE TOWNSHIP, N.J., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release early earnings for its fiscal 2025 second quarter for the period ended October 31, 2024 after the market closes on Monday December 2, 2024. It also announced it will release its full results for the same quarter after the market closes on Monday December 16, 2024. Philipp Stratmann, OPT's CEO and President, stated, "We are excited to provide our shareholders with an early earnings update for our recent quarter. The ongoing growth in
MONROE TOWNSHIP, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 several major contractual milestones and delivered new unmanned surface vehicles, a WAM-V 16 and a WAM-V 22, to previously announced survey customers in Latin America. This delivery is part of the Company's ongoing expansion into the region, working with end customers and resellers. This milestone supports revenue recognition of the fully integrated system, including survey equipment. The Company also announced it has secured a follow-on o
MONROE TOWNSHIP, N.J., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 completed the second set of exercises of the previously announced follow-on contract as a subcontractor to EpiSci and successfully deployed several of its WAM-V autonomous surface vehicles during the Mission Autonomy Proving Grounds (MAPG) as part of Project Overmatch. Under this contract, OPT continues to ruggedize and enhance the operational capability of its autonomous maritime technologies to support the U.S. military and its allies. The f
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
8-K - Ocean Power Technologies, Inc. (0001378140) (Filer)
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8-K - Ocean Power Technologies, Inc. (0001378140) (Filer)
8-K - Ocean Power Technologies, Inc. (0001378140) (Filer)
424B5 - Ocean Power Technologies, Inc. (0001378140) (Filer)
DEF 14A - Ocean Power Technologies, Inc. (0001378140) (Filer)
8-K - Ocean Power Technologies, Inc. (0001378140) (Filer)
MONROE TOWNSHIP, N.J., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that concurrent with the completion of the Company's 2024 Annual Meeting of Stockholders on January 16, 2025, the OPT Board of Directors has appointed Natalie Lorenz-Anderson, Rear Admiral Joseph A. "Digger" DiGuardo and Rear Admiral Victorino "Vic" Mercado as Advisory Board Members. The Advisory Board Members will provide advice and recommendations to the OPT Board with respect to matters as the Board may from time-to-time request concerning operations, s
MONROE TOWNSHIP, N.J., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 Distributor Agreement with Remah International Group ("RIG"), a privately held and UAE headquartered company with a focus on both military and civilian services. Through its locally owned group of 48 companies, RIG partners with esteemed solution providers globally, including Northrop Grumman and SAAB, to ensure the highest levels of service and product are supplied to the UAE. OPT and RIG will collaborate to promote, distribute, sell, and
MONROE TOWNSHIP, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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® equipped with AI capable Merrows™. Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this agreement, stating, "As we continue our growth, we are excited to continue our exp
MONROE TOWNSHIP, N.J., June 27, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, is pleased to announce the signing of an Original Equipment Manufacturer ("OEM") agreement with Teledyne Marine, a division of Teledyne Technologies Inc. (NYSE:TDY) ("Teledyne"), a key supplier in the maritime technology inclusive of connectors, instruments, and vehicles. This strategic partnership aims to enhance OPT's product offerings and drive innovation within the industry providing customers with a turnkey system. Philipp Stratmann, CEO of OPT, expressed his enth
MONROE TOWNSHIP, N.J., April 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE: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 maritime domain awareness through OPT's innovative Maritime Domain Awareness Solution (MDAS). Under the terms of the agreement, the defense contractor will have exclusive rights to provide OPT's MDAS solution within certain international geographic regions. Le
MONROE TOWNSHIP, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced Robert P. (Bob) Powers has been appointed by the Company's Board of Directors as Senior Vice President and Chief Financial Officer, effective December 13, 2021. Mr. Powers brings more than 25 years of experience in finance and strategy to OPT, most recently as CFO of Constellation Advisors, a private equity-owned provider of outsourced back-office operations and compliance services. He has held financial leadership roles with Sterling Talent Solutions, Wo
Philipp Stratmann Appointed as President and CEO, and Matthew Shafer Promoted to Senior Vice President, CFO and Treasurer MONROE TOWNSHIP, N.J., June 21, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and cost-effective low carbon ocean energy solutions, today announced that its Board of Directors appointed Philipp Stratmann as its new President and Chief Executive Officer (CEO), and a Director. Mr. Stratmann previously served as OPT's Vice President of Global Business Development since 2019. In addition, the Board of Directors has elevated Matthew T. Shafer, to Senior Vice President, Chief Financial Officer and Treas
MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue: $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase.Net Loss: $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities: $4.8 million, compared to $7.5 milli
MONROE TOWNSHIP, N.J., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the second quarter ended October 31, 2024 (Q2FY25). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its second quarter financial results and update in mid‐December. Preliminary Q2FY25 Financial Highlights(All figures are preliminary, unaudited, and subject to finalization): Revenue: Estimated to be greater than $2 million, compared to $0.9 million for the same period last year, representing a m
MONROE TOWNSHIP, N.J., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release early earnings for its fiscal 2025 second quarter for the period ended October 31, 2024 after the market closes on Monday December 2, 2024. It also announced it will release its full results for the same quarter after the market closes on Monday December 16, 2024. Philipp Stratmann, OPT's CEO and President, stated, "We are excited to provide our shareholders with an early earnings update for our recent quarter. The ongoing growth in
MONROE TOWNSHIP, N.J., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal first quarter ended July 31, 2024 ("Q125"), which included year over year reductions in operating expenses, operating loss, and cash burn. Recent Financial and Operational Highlights: Operating expenses of $4.9 million for Q125 decreased 39% as compared to operating expenses of $8.1 million for the same period in the prior year ("Q124") reflecting previously disclosed restructuring and streamlining activities. Use of cash for operating activities of $6.1 million for Q125 decreased 23% as compared to operating e
MONROE TOWNSHIP, N.J., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2025 first quarter results for the period ended July 31, 2024 after the market closes on Monday September 16, 2024. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Tuesday September 17, 2024 at 9:00 AM EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Web
MONROE TOWNSHIP, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today reminds stockholders that a Special Meeting of the Stockholders of OPT will be held at 9 a.m. Eastern time on August 30, 2024, in virtual format only at www.cesonlineservices.com/optt24_vm, for the purpose of voting on proposals to (i) approve an amendment to OPT's Certificate of Incorporation to increase the number of authorized shares of common stock, par value $.001 per share, from 100,000,000 to 200,000,000, and (ii) approve an adjournment of the Special Meeting
MONROE TOWNSHIP, N.J., July 25, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal fourth quarter ("4Q24") and full-year ended April 30, 2024 ("FY24"). Highlights include: 4Q24 and RECENT HIGHLIGHTS Backlog at April 30, 2024 is $4.9 million, a 25% increase over the prior year.Pipeline at April 30, 2024 stood at $71.6 millionIn July 2024 we announced a contract for immediate delivery of a PowerBuoy equipped with Merrows, our Artificial Intelligence capable Maritime Domain Awareness Solution, in the Midde East. This order follows our previous announcement of the customer's selection of O
MONROE TOWNSHIP, N.J., July 12, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE: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 fourth quarter results for the period ended April 30, 2024 after the market closes on Thursday July 25, 2024. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be Friday July 26, 2024 9:00am EDT. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Webcast | Ocean Pow
MONROE TOWNSHIP, N.J., March 13, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE: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 year-over-year increase over the pipeline of approximately $14 million at January 31, 2023. The Company's pipeline continues to grow, reflecting a significant increase in defense and security activity as well as an expansion of commercial opportunities.The
MONROE TOWNSHIP, N.J., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE: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 Thursday March 14, 2024, 9:00am EDT. Philipp Stratmann, CEO, Bob Powers, CFO, and Joseph Dipietro, Controller, will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-834
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