Ocean Power Technologies Announces Completion of Product Shipment for Naval Postgraduate School

Ocean Power Technologies, Inc. (NASDAQ: OPTT) recently disclosed in an 8-K filing with the Securities and Exchange Commission that on December 23, 2024, it issued a press release regarding the successful completion of a product shipment for the Naval Postgraduate School. The company announced the completion of the main assembly of a PowerBuoy® equipped with advanced features, including AT&T® 5G technology and subsea sensors, all integrated into OPT’s latest Merrows™ suite for AI capable operations.

The fully assembled system is currently being readied for shipment in preparation for deployment in early 2025. This deployment will coincide with the Technology Showcase hosted by NPS in January. Once in operation, the PowerBuoy® will provide continuous autonomous monitoring and data collection services in a highly significant maritime environment, furthering Ocean Power Technologies’ strategic plan objectives.

Philipp Stratmann, the CEO of Ocean Power Technologies, expressed excitement over this milestone achievement, highlighting the significance of the PowerBuoy® technology in enhancing maritime security and operational capabilities both above and below the surface. Stratmann emphasized the company’s commitment to cutting-edge advancements and customer service excellence, further strengthened by recent institutional investor support.

The upcoming deployment with the Naval Postgraduate School aims to demonstrate the versatility and capabilities of PowerBuoy® technology as 5G communication nodes along the U.S. coastline. Ocean Power Technologies continues to distinguish itself through technological innovations, and the backing of institutional financing is expected to contribute to the growth of its services business.

For detailed information on Ocean Power Technologies and its offerings, interested parties are encouraged to visit the company’s official website at Ocean Power Technologies.

About Ocean Power Technologies:
Ocean Power Technologies (NASDAQ: OPTT) offers intelligent maritime solutions for various sectors, including defense, oil and gas, science and research, and offshore wind industries. The company’s products, including Merrows™ and PowerBuoy® platforms, provide clean and reliable power along with real-time data communications for remote maritime and subsea applications. Ocean Power Technologies is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California.

This news release may contain forward-looking statements, subject to risks and uncertainties outlined in the company’s filings with the U.S. Securities and Exchange Commission. Ocean Power Technologies disclaims any obligation to update such forward-looking statements following the release of this information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ocean Power Technologies’s 8K filing here.

Ocean Power Technologies Company Profile

Ocean Power Technologies, Inc develops and commercializes proprietary power platforms that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Australia, and Asia. It offers PB3 PowerBuoy that generates power for use independent of the power grid in offshore locations.