MONROE TOWNSHIP, N.J., Oct. 08, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in maritime operational infrastructure and autonomous ocean systems, today announced an order from the Naval Postgraduate School (NPS) for a WAM-V® 8 maritime drone.
Researchers from the NPS Consortium for Robotics and Unmanned Systems Education & Research (CRUSER) plans to use the WAM-V 8 as a mobile platform for littoral sensing and autonomous-systems research, including the integration of atmospheric and electro-optical instrumentation. The compact platform’s modular payload architecture and shallow draft allow researchers to configure and deploy specialized sensors in coastal operating environments. The order expands an established relationship between OPT and NPS. Their previous work has included an OPT PowerBuoy® deployed in Monterey Bay to support oceanographic, meteorological, communications, and maritime-sensing research. The WAM-V 8 adds a mobile research asset alongside that persistent sensing infrastructure.
Recent field operations have also demonstrated the WAM-V 8’s ability to perform work in demanding coastal conditions. At REPMUS 2026, the platform delivered bathymetric survey data in amphibious surf zones and was launched from shore ahead of amphibious operations. During a separate evaluation at the U.S. Army Corps of Engineers’ Field Research Facility, the WAM-V 8 operated in challenging surf-zone conditions and generated data on sensor performance, vehicle configuration, and deployment methods.
“NPS came to us with a defined research requirement: integrate specialized sensors on a compact autonomous platform for littoral experiments,” said Jason Weed, Chief Operating Officer of OPT. “The WAM-V 8’s modular architecture and demonstrated field performance make it well suited to that work. This order expands a relationship that began with persistent ocean sensing and now adds a mobile element.”
Tracy Pagliara, Acting President and CEO of OPT also stated: “The NPS order extends OPT’s relationship from persistent ocean sensing to mobile autonomous research. It reflects OPT’s role as an enabling maritime infrastructure layer, providing the mobile platform and integration framework designed to accommodate NPS sensors, data collection requirements, and research workflows.” For more information about Ocean Power Technologies, visit www.OceanPowerTechnologies.com.
ABOUT OCEAN POWER TECHNOLOGIES
OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® unmanned surface vessels (USVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s products, services and solutions, visit www.OceanPowerTechnologies.com.
FORWARD-LOOKING STATEMENTS
This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the potential for further expansion of the Company’s relationship with NPS and additional orders, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
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