Ocean Power Technologies Inc - Company Profile

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Ocean Power Technologies Inc: Overview

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Ocean Power Technologies Inc (OPT) is a provider of ocean energy solutions. The company develops, manufactures, and sells ocean wave power conversion technology products. Its PB3 PowerBuoy product integrates technologies in hydrodynamics, energy conversion, electronics, and computer control systems to extract energy from ocean waves. OPT serves offshore power and real-time data communications applications in defense, security, ocean observing, oil and gas, and communications offshore wind sectors in Asia, North America, and Europe. Through a direct sales force including employees and industry expert consultants, the company markets PowerBuoys systems. The company has in-house manufacturing, assembly, final systems integration, and testing of the PTO and its components facility in the US. OPT is headquartered in Monroe, New Jersey, the US.

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Headquarters United States of America
Address 28 Engelhard Drive, Suite B, Monroe Township, New Jersey, 08831
Website oceanpowertechnologies.com
Telephone 1 609 7300400
No of Employees 72
Industry Alternative Energy
Ticker Symbol & Exchange OPTT (AFM)
Revenue (2022) $2.7M 55.3% (2022 vs 2021)
EPS XYZ
Net Income (2022) XYZ -39.5% (2022 vs 2021)
Market Cap* $11.3M
Net Profit Margin (2022) XYZ 10.2% (2022 vs 2021)
* As of and is in US$
View Ocean Power Technologies Inc financials
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Ocean Power Technologies Inc premium industry data and analytics

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Tenders & Contracts

Detailed insights into open, awarded and pre-solicited tenders and contracts for Ocean Power Technologies Inc.

Products and Services

Products Services Brands
PB3 Undersea Power Connection Infrastructure Services PowerBuoy
PowerBuoy Systems
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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

Year Event Description
2023 Contracts/Agreements In December, the company secured a contract of US$6.5 million from a US-based prime contractor for numerous buoys promoting marine domain awareness, strengthening our dedication to intelligence and national security.
2023 Contracts/Agreements In October, the company entered into an agreement with WildAid and Caribbean Law Enforcement to protect vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies.
2023 Contracts/Agreements In September, the company secured a contract with the National Oceanic and Atmospheric Administration (NOAA) to provide uncrewed maritime systems (UMS) Services to NOAA's Office of marine and Aviation Operations.
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Competitor Comparison

Key Parameters Ocean Power Technologies Inc American Water Works Co Inc AWS Ocean Energy Ltd Columbia Power Technologies Inc Eco Wave Power Ltd
Headquarters United States of America United States of America United Kingdom United States of America Israel
City Monroe Township Camden Inverness Corvallis Tel Aviv
State/Province New Jersey New Jersey Scotland Oregon Tel Aviv
No. of Employees 72 6,500 4 - -
Entity Type Public Public Private Private Private
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Executives
Name Position Board Since Age
Terence J. Cryan Chairman Executive Board 2014 61
Philipp Stratmann President; Chief Executive Officer; Director Executive Board 2021 44
Robert P. Powers Chief Financial Officer; Director; Senior Vice President Executive Board 2021 -
Maria Force Vice President - Human Resources Senior Management - -
Mark Gundersen Vice President - Autonomous Vehicles Senior Management 2021 -
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
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