Ocean Power Technologies Inc (OPTT) News & EventsOPTTOcean Power Technologies Inc

Ocean Power and Stratum Sign Strategic Collaboration LOI

Ocean Power (OPTT) and Stratum Holdings (SRTM) announced that they have entered into a non-binding letter of intent, or LOI, for a proposed strategic collaboration to demonstrate offshore data center assets powered by renewable wave, wind, and solar energy. The LOI contemplates that OPT and Stratum negotiate definitive agreements pursuant to which OPT would grant Stratum a limited, non-exclusive license to certain of its PowerBuoy patents for use in the demonstration program and make available certain prototype PowerBuoy assets currently on hand, and Stratum would make available certain GPU assets, including its latest generation Nvidia B300 GPUs, and related integration expertise. Stratum would also pay OPT a monthly retainer under the terms of the definitive agreements. The proposed strategic collaboration would focus on integrating OPT's PowerBuoy platforms with Stratum's compute hardware to validate the technical feasibility of hosting edge AI inference and related workloads on systems powered primarily by onboard renewable generation, without a power umbilical to shore.

Ocean Power Technologies Demonstrates Unmanned Vessel Capabilities at REPMUS 2026

Ocean Power Technologies announced that three classes of its WAM-V unmanned surface vessels operated across multiple mission sets at REPMUS 2026, the multinational robotic experimentation exercise led by the Portuguese Navy in close collaboration with NATO, the University of Porto, and the European Defense Agency, EDA. "The test of an unmanned system isn't whether it performs at a demonstration. It's whether an operational commander will task it alongside everything else he's responsible for," said Jason Weed, Chief Operating Officer of OPT. "At REPMUS, our vessels weren't on display; they were given work. Three different classes, five different missions, inside someone else's operational picture. That's the capability our customers are actually buying."

Ocean Power Technologies Reports Q1 Revenue of $1.7M

Reports Q1 revenue $1.7M vs. $1.18M last year. Backlog increased 58% to a $19.1M, a 27% increase compared to $15M at July 31, 2025. "During the first quarter, we continued advancing our technology development to repeatable operational execution," said Philipp Stratmann, president and CEO of Ocean Power Technologies. "Our PowerBuoy systems operated as an integrated offshore network supporting a U.S. Coast Guard maritime domain awareness mission, while our teams completed additional customer deployments and demonstrated autonomous docking and charging capabilities that we believe are essential to persistent maritime autonomy. We also expanded our technology portfolio into subsea power and strengthened our eligibility for sensitive defense programs through CMMC Level 2 compliance. Since quarter end, our selection under the Naval Oceanographic Office's multiple-award IDIQ contract has created a new pathway to compete for autonomous ocean-mapping work, and our implementation of Palantir Foundry is designed to provide the operating backbone needed to execute at greater scale. Our team remains focused on serving customers, converting backlog into revenue, expanding recurring services and strengthening the Company's financial position. We believe our integrated portfolio of PowerBuoy platforms, WAM-V vehicles, Merrows software and subsea technologies positions OPT to address a growing need for persistent, intelligent maritime infrastructure."