MONROE TOWNSHIP, N.J., Aug. 24, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that Dr. Philipp Stratmann, President and Chief Executive Officer will participate in the upcoming Water Tower Research Fireside Chat Series, taking place on Tuesday, August 25, 2026 at 11:00 am ET.
The Fireside Chat will be hosted by Peter Gastreich, Managing Director, Energy Transition & Sustainable Investing at Water Tower Research, and will cover the following topics:
- Evolution to an operational provider. What made FY26 the year OPT became an operational provider rather than a technology developer.
- Record backlog. Backlog of $19.8 million, up 58% in 2026 and nearly five times FY26 revenue.
- Coast Guard program and recurring revenue. The largest deployment in company history, renewal prospects, and how the lease-like model layers revenue across a buoy’s life.
- Speed as a differentiator. A WAM-V delivered five weeks from order and what that pace demands of inventory and fleet readiness.
- Defense and international momentum. The US government’s WAM-V selection, CMMC Level 2 compliance, and converting European engagement into contracts.
- Margins, capital, and milestones. The path toward the 35–55% gross margin range, funding plans for growth, and FY27 milestones that would demonstrate execution.
This event is open access for all investors to participate. Interested parties can register for the event through Water Tower Research at: Fireside Chat: Ocean Power Technologies, Inc (OPTT) - 1772197
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 continuing successful operations of the PowerBuoy® deployed in Southeast Asia, the delivery of customer services, 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.
CONTACT INFORMATION
Investors: 203-561-6945 or [email protected]
Media: 609-730-0400 x402 or [email protected]