Ocean Power Technologies (NASDAQ:OPTT) develops and delivers marine power, data, and autonomous systems for use in offshore environments. The company’s solutions are designed to support applications where conventional power sources and communications infrastructure can be difficult or costly to deploy, including maritime security, offshore energy, environmental monitoring, and ocean research.
Its product portfolio includes the PowerBuoy, a wave-powered platform intended to provide renewable energy and support communications, monitoring, and other payloads at sea. Ocean Power Technologies also offers WAM-V autonomous surface vehicles, which are designed for tasks such as data collection, surveillance, inspection, and hydrographic surveying. The company provides related engineering, integration, software, and support services for marine deployments.
Ocean Power Technologies is headquartered in Monroe Township, New Jersey, and serves government, defense, commercial, and scientific customers in the United States and international markets. The company has historically focused on developing ocean-based power systems and has expanded into autonomous maritime vehicles and ocean intelligence solutions. Its leadership has included Chief Executive Officer Philipp Stratmann.
