About the Company
Ocean Power Technologies (OPT) is a U.S. publicly owned renewable energy company, providing electric power and communications solutions, services and related for remote offshore applications. The company's PowerBuoy wave energy conversion technology is theoretically scalable to hundreds of megawatts and the generated energy from wave power can be supplied to the grid via submarine cables. Several projects were undertaken around the world, but the economic viability of the theoretical concept has been problematic. Ocean Power was involved in several large PowerBuoy projects, including a very large Australian project with Lockheed Martin from 2012–2014, when they determined that "the project wasn’t 'commercially viable,' and [the company] changed its strategy. It has since commercialized the technology by providing power and communications to remote sites such as offshore oil fields."Ocean Power Technologies Australasia Pty Ltd, OPTA is an Australian-owned subsidiary of Ocean Power Technologies Inc (OPT), previously engaged in wave power projects in Australia. Ocean Power Technologies Limited is the UK-based wholly owned subsidiary.
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Latest $OPTT News
Ocean Power Technologies looks to expand growth teaming with major defense contractor
Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to unveil a groundbreaking development: ...
Ocean Power Technology Loses Ground On News
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Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium
The NATO Digital Ocean Industry Symposium is a landmark initiative aimed at enhancing Maritime Situational Awareness (MSA) from Seabed to Space. The symposium will focus on the exploitation of ...
Ocean Power Technologies Announces Teaming Agreement with Major International Defense Contractor to Deploy Maritime Domain Awareness Solutions
Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has ...
Ocean Power Technologies teams with Red Cat to provide advanced maritime defence solutions
Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to announce a significant strategic ...
Ocean Power Board Battle Widens With New Lawsuit by Paragon
Paragon Technologies Inc. sued Ocean Power Technologies Inc. on Friday, seeking to force the offshore energy company to redo ...
Ocean Power Technologies (OPTT) Stock Price and Analyst Predictions
The stock has a 36-month beta value of 2.10. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.” The public float for OPTT is 55.17M ...
Ocean Power Technologies collaborates with Red Cat for maritime defense solutions
Ocean Power Technologies (NYSE:OPTT) said Monday it has signed a strategic alliance with Red Cat Holdings (NASDAQ:RCAT), a drone technology ...
Ocean Power Hooks Up With Red Cat
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Ocean Power Technologies Announces “Merrows”: A Consolidated Solution for Maritime Domain Awareness
Ocean Security is National Security™ Services for the Defense, National Security, and Offshore IndustriesMONROE TOWNSHIP, N.J., April 02, 2024 (GLOBE NEWSWIRE) -- (NYSE American: OPTT) (“OPT” or the ...
Red Cat Announces Agreement with Sentien Robotics UAS Hive for Land, Air and Sea Drone Swarming Operations
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, announces a ...
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