Business
Ocean Power Technologies Receives Approximately $1.5 Million U.S. Coast Guard Order for Installation and Deployment of Operational Buoy Systems
MONROE TOWNSHIP, N.J., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), today announced it has received an approximate $1.5 million Purchase Order from the United States Coast Guard (USCG) for the installation and deployment of buoy systems previously ordered. This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions. The Co
About this update from Ocean Power Technologies, Inc.
[{"type":"image","alt":"Ocean Power Technologies, Inc.","displaySize":"","headline":null,"caption":"Ocean Power Technologies, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":67,"url":"https://media.zenfs.com/en/globenewswire.com/d45c6ee84515ee423edc7341cff22d29"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/5G5ltsouE_sl04rToTg85A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk0O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/d45c6ee84515ee423edc7341cff22d29","width":300,"height":67}},"lazy":false},{"type":"text","content":"MONROE TOWNSHIP, N.J., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), today announced it has received an approximate $1.5 million Purchase Order from the United States Coast Guard (USCG) for the installation and deployment of buoy systems previously ordered.","length":324,"tagName":"p"},{"type":"text","content":"This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions. The Company expects this order to contribute to near-term revenues as installation and deployment activities commence.","length":287,"tagName":"p"},{"type":"text","content":"Under the scope of work, OPT will execute deployment, commissioning, and operational activation to ensure the systems are fully integrated and mission ready. The buoys are expected to enter active service shortly following installation.","length":236,"tagName":"p"},{"type":"text","content":"Jason Weed, SVP Commercial Sales, noted "OPT's expanding focus on defense and security has enabled us to engage more deeply with our customers, gain a clearer understanding of their evolving mission challenges, and deliver innovative solutions that were previously unavailable.","length":286,"tagName":"p"},{"type":"text","content":"This strategic emphasis is directly aligned with the updated doctrine of the U.S. Department of Homeland Security and the U.S. Department of Defense to further strengthen Homeland Defense."","length":194,"tagName":"p"},{"type":"text","content":"The systems are designed to provide persistent offshore presence, enhancing surveillance, situational awareness, and operational effectiveness in demanding maritime environments. OPT’s responsibility spans manufac...