Ocean Power Technologies, Inc.

Ocean Power Technologies, Inc. (OPT) is a publicly traded company that provides intelligent maritime solutions and services designed to enable safer, cleaner, and more productive ocean operations. Founded in 1984, the company's mission is to energize ocean intelligence for various sectors. Its global headquarters are located in Monroe Township, New Jersey, with an additional office in Richmond, California.

OPT's core offerings include its proprietary PowerBuoy® platform, which generates clean and reliable electric power by harnessing renewable energy from ocean waves, wind, and solar for remote maritime and subsea applications. The company also provides WAM-V® autonomous surface vessels (ASVs) and Merrows™, an AI-capable system for seamless integration of Maritime Domain Awareness Systems across platforms. These products and services support critical operations such as ocean data collection and reporting, marine power, and offshore communications for defense and security, oil and gas, science and research, and offshore wind markets.

Led by President and CEO Philipp Stratmann, Ocean Power Technologies continues to advance its market positioning as a leader in low-carbon marine data, power, and service solutions. In April 2026, the company successfully deployed its first PowerBuoy system under a U.S. Department of Homeland Security contract to enhance U.S. Coast Guard maritime domain awareness off California. This followed a February 2026 U.S. Coast Guard order for installation and deployment of operational buoy systems and a multi-buoy contract exceeding $5 million in January 2026 for MERROWS®-equipped PowerBuoy® systems.