Ocean Power Technologies Inc (OPTT) News & EventsOPTTNews & EventsOcean Power Technologies Inc

Selling Stockholders Plan to Sell Up to 10.98M Shares

This filing relates to the offer and sale from time to time by the selling stockholders of up to 10.98M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.

Ocean Power Technologies Achieves CMMC Level 2 Certification

Ocean Power Technologies announced that it has achieved Cybersecurity Maturity Model Certification, or CMMC, Level 2 compliance, further strengthening the company's readiness to support the U.S. Department of War and other federal programs requiring the protection of Controlled Unclassified Information. The milestone reflects OPT's continued investment in cybersecurity and secure operations as the company expands its portfolio of autonomous maritime solutions supporting U.S. and allied defense customers. Achieving CMMC Level 2 compliance aligns with the cybersecurity requirements applicable to a growing number of Department of War contracts and further enhances OPT's ability to pursue opportunities requiring the secure handling of sensitive information. Jason Weed, senior VP of commercial sales at Ocean Power Technologies, said, "The cybersecurity requirements associated with defense programs continue to evolve, and meeting those requirements has become an important part of doing business with the U.S. Government. Achieving CMMC Level 2 compliance reflects another investment in the capabilities our defense customers expect from their industry partners. As OPT continues to expand across maritime intelligence, autonomous systems, and maritime security, we believe that this milestone strengthens our ability to compete for new opportunities and support increasingly sensitive missions."

Ocean Power Acquires Strategic Technology Assets from Columbia Power

Ocean Power announced the acquisition of strategic subsea developmental technology assets from Columbia Power Technologies. The transaction has been structured as an asset acquisition, securing ownership of strategic intellectual property and technical capabilities. In addition to expanding OPT's technology portfolio, the acquisition includes developmental work and early customer engagement. The transaction closed effective, July 22.