Ocean Power Technologies, Inc.
OPTTOcean Power Technologies, Inc. (OPTT) is a developer of renewable energy solutions that harness the power of ocean waves to generate electricity. Established in 1984, the company focuses on designing and commercializing wave energy conversion systems to provide sustainable and predictable power for remote locations, offshore applications, and the utility grid. Ocean Power Technologies aims to advance the utilization of marine energy resources as a clean alternative to traditional energy sources.
Company News
Ocean Power Technologies reported fiscal 2025 results with increased backlog, strategic international partnerships, and reduced operating expenses, focusing on maritime autonomous solutions for defense and commercial markets.
Ocean Power Technologies reported a 39% decrease in operating expenses, reducing operating loss and cash burn. The company's pipeline grew to $92 million, reflecting increased defense, security, and commercial opportunities. The company also announced several new partnerships and technological advancements.
Several industrial stocks saw significant pre-market movement on Thursday, with Zoomcar Holdings, Mesa Air Group, and Dragonfly Energy Holdings among the notable gainers, while Shapeways Holdings, Solidion Technology, and Ocean Power Technologies were among the decliners.
Ocean Power Technologies Inc (AMEX:OPTT) shares are trading higher after the close on Thursday after the company announced it signed an agreement with Teldyne Marine. What Happened: After the market close on Thursday, Ocean Power Technologies said it signed an Original Equipment Manufacturer agreement with Teledyne Marine, a division of Teledyne ...
OPT signs OEM deal with Teledyne Marine to expand AI sensor capabilities and drive innovation in marine technology. Enhancing product offerings and growth.
