Ocean Power Technologies, Inc. (NYSE: OPTT) announced on July 17, 2026, that its WAM-V unmanned surface vehicle (USV) has been selected for further engagement by the U.S. Government following a recent competitive capability assessment. This selection validates the company's continued investment in autonomous maritime capabilities and supports its ongoing engagement with U.S. defense and security customers. While not a contract award, the notification creates an opportunity for future technical engagement and reinforces the growing relevance of OPT's USV platform.

The WAM-V USV is part of OPT's portfolio of intelligent maritime solutions, which includes PowerBuoy platforms for clean electric power and real-time data communications, as well as marine robotics services. The company provides these solutions to defense and security, oil and gas, science and research, and offshore wind markets. OPT's headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California.

Jason Weed, Senior Vice President, Commercial Sales, stated that the notification reflects the continued expansion of OPT's engagement across the U.S. Government and reinforces the growing demand for autonomous maritime capabilities that support maritime dominance. He emphasized that the company's ability to combine proven USV technology with persistent maritime awareness positions OPT well to support evolving government requirements.

The notification is not a contract award or procurement decision, and there can be no assurance that it will result in additional government engagements or future business opportunities. The company's forward-looking statements rely on assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including continued WAM-V operations with the U.S. Government and the conversion of potential customers to contracts.

Key Details

OPT's Merrows™ product provides AI-capable seamless integration of Maritime Domain Awareness Systems across platforms, complementing its autonomous surface vessels. The company's focus on autonomous maritime solutions aligns with increasing government interest in technologies that support maritime dominance and security.

Ocean Power Technologies, Inc. has expanded its international maritime security engagements across Europe through recent customer deployments and strategic forum participation. The company completed customer training and maritime drone handover activities in Italy and Greece, supporting the successful deployment and operation of autonomous maritime systems by international customers. These initiatives underscore the increasing role OPT is playing in supporting maritime security and critical infrastructure protection efforts with allied and partner nations.

In addition to deployment activities, OPT participated in the 11th National Maritime Security Forum in Warsaw, Poland. Nicholas Woodhams, OPT’s General Manager Arabian Gulf, joined government, military, and industry leaders to discuss maritime critical infrastructure protection and Baltic security. During the forum, Jacek Siewiera, the former Head of National Security Bureau of Poland, recognized OPT for its ongoing involvement in security planning for Polish infrastructure.

Strategic Expansion

OPT continues to grow its international presence through a combination of customer deployments, training programs, strategic partnerships, and participation in key maritime security forums. These efforts are focused on advancing operational capabilities and resilience in the maritime domain. The company’s activities reflect growing international interest in autonomous maritime technologies.

Key Activities Overview

Company Overview

OPT provides intelligent maritime solutions and services for defense and security, oil and gas, science and research, and offshore wind markets. Its offerings include Merrows™, which provides AI-capable integration of Maritime Domain Awareness Systems, PowerBuoy® platforms for electric power and data communications, and WAM-V® unmanned surface vessels (USVs). The company is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California.