Ocean Power Technologies, Inc.

Ocean Power Technologies, Inc. is a Maritime Domain Awareness (MDA) company specializing in intelligent maritime solutions delivered as "as a service" systems, including Data as a Service (DaaS), Robotics as a Service (RaaS), and Power as a Service (PaaS). These systems consist of platforms including the PowerBuoy®, its persistent sensor and power solution; the WAM-V® (Wave Adaptive Modular Vessel), its autonomous unmanned surface vehicle; and Merrows™, its user interface and command and control (C2) system that integrates multiple sensor feeds using software and hardware and enables artificial intelligence and machine learning (AI/ML) integration. The company designs, manufactures, deploys, and operates these systems for defense, security, subsea infrastructure, offshore oil and gas, offshore energy, marine research, and communication markets. It operates primarily through a combination of direct sales and leases, strategic partnerships, and long-term service agreements, with a business model emphasizing capital-light deployments, recurring revenue from service and maintenance contracts, and high-margin technology sales and leases. It serves a global customer base, including the U.S. and allied defense agencies, offshore energy operators, and commercial interests. The company holds numerous patents and leverages decades of research including control systems, energy storage, and marine integration. Its headquarters and assembly operations are located in New Jersey, and it maintains an additional manufacturing and robotics development facility in Richmond, CA. It also maintains an office at the Association for Uncrewed Vehicle Systems International (AUVSI) headquarters in Washington, D.C.