OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V autonomous surface vessels (ASVs) and marine robotics services through our wholly owned subsidiary MarineAdvanced Robotics. We are headquartered in Monroe Township, New Jersey, and have offices in Houston, Texas, and Richmond, California.
Ocean Power Technologies Inc (NYSE-A:OPTT) will carry out a 1-for-30 reverse stock split, with shares trading on a split-adjusted basis starting September 14, 2026.
The company said the split is meant to raise its per-share price and improve marketability and liquidity.
Every 30 existing shares will be combined into one. No fractional shares will be issued; holders otherwise due a fraction will instead get one whole share.
Ownership percentages stay unchanged, and stockholders need not take any action. Outstanding warrants and other derivatives will adjust automatically per their terms.
Ocean Power Technologies Inc (NYSE-A:OPTT) is participating in a week-long uncrewed surface vehicle demonstration hosted by the US Army Engineer Research and Development Center’s Coastal and Hydraulics Laboratory in Duck, North Carolina.
The demonstration at ERDC’s Field Research Facility is evaluating uncrewed surface vehicle technologies capable of operating through surf zones, breaking waves, currents and coastal inlets. OPT was selected to participate following a competitive technical evaluation and will demonstrate its WAM-V maritime drone platform in live coastal conditions.
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it is implementing Palantir Foundry to support the expansion of its autonomous maritime systems and services.
The platform will be used to provide greater visibility across Ocean Power Technologies’ operations, including manufacturing, supply chain management, deployment, fleet operations, maintenance and customer support.
Ocean Power Technologies Inc (NYSE-A:OPTT) is expected to cap off a strong 2024 with reduced losses and commercial growth opportunities, according to analysts at Water Tower Research.
The manufacturer of the Wave Adaptive Modular Vessel (WAV) recently stated its guidance of achieving profitability by the fourth quarter of 2025.
OPT’s military contracts and commercial growth will fuel its profitability push, Water Tower Research noted.
Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to share news regarding the company's progress on its innovative PowerBuoy system for the Naval Postgraduate School. The primary assembly of the PowerBuoy, equipped with AT&T® 5G technology and advanced subsea sensors, is now complete. Integration of OPT’s Merrows suite, which offers AI-driven Maritime Domain Awareness, has also been finalized.
The system is being prepared for shipment, with deployment slated for early 2025. It will coincide with the Technology Showcase hosted by NPS in January, marking a significant milestone for OPT’s strategic initiatives. Once operational, the PowerBuoy will deliver continuous, autonomous monitoring and data collection capabilities in a critical maritime region. According to Stratmann, this deployment underscores OPT's strategic plan and ability to scale cutting-edge solutions.
He added, “This project demonstrates the capability of PowerBuoys to serve as 5G communication nodes across U.S. coastlines.” This collaboration with NPS highlights OPT's role in advancing maritime technology and supporting strategic defense and communication initiatives in key maritime zones.