Ocean Power Technologies, Inc.

Ocean Power Technologies, Inc. (NASDAQ: OPTT) is a Maritime Domain Awareness company specializing in intelligent autonomous maritime solutions for defense, security, offshore infrastructure, and commercial markets. The company designs, manufactures, deploys, and operates integrated systems that combine persistent sensor platforms, autonomous vehicles, renewable power generation, and advanced command-and-control software.

OPT's core product portfolio includes the PowerBuoy®, a renewable energy-powered autonomous offshore platform that converts wave motion, solar, and wind energy into continuous electrical power for remote maritime operations; the WAM-V®, a modular unmanned surface vehicle available in three standard sizes engineered for autonomous operations in inshore, nearshore, and offshore environments; and Merrows™, an integrated user interface and command-and-control platform that consolidates multi-sensor data feeds and enables artificial intelligence and machine learning integration across OPT's systems.

The company operates through multiple service-based business models including Data as a Service for persistent maritime intelligence collection, Robotics as a Service providing subscription-based access to autonomous vehicles, and Power as a Service offering leased renewable energy platforms. These offerings emphasize capital-light deployments and recurring revenue from service and maintenance contracts.

OPT maintains manufacturing and assembly operations at its headquarters in Monroe Township, New Jersey, encompassing approximately 56,000 square feet of combined manufacturing, engineering, and administrative space, and operates an additional facility in Richmond, California supporting prototyping, testing, and West Coast operations. As of April 30, 2026, the company employed 65 full-time employees, all located in the United States. The company holds a Facility Security Clearance from the U.S. Department of War, enabling work on classified defense contracts.

OPT has deployed over 100 WAM-V® platforms globally and completed multiple operational deployments of PowerBuoy® systems across varying marine conditions. The company holds approximately 82 issued U.S. patents covering autonomous maritime systems, wave energy conversion, and integrated ocean intelligence solutions, with patent protections extending through fiscal 2041. As of April 30, 2026, OPT's contract backlog was approximately $20.1 million. The company's website is www.oceanpowertech.com.