Ocean Power Technologies to demonstrate its WAM-V maritime drone at U.S. Army's vehicle evaluation in North Carolina.
Quiver AI Summary
Ocean Power Technologies, Inc. announced its participation in a week-long demonstration of uncrewed surface vehicle technologies hosted by the U.S. Army Engineer Research and Development Center in Duck, North Carolina. The demonstration aims to assess the capabilities of technologies to operate in challenging coastal conditions, utilizing OPT's WAM-V® maritime drone platform. This evaluation will focus on applications like bathymetric mapping and submerged hazard detection, crucial for military logistics and civil engineering missions. Jason Weed, Senior Vice President of Commercial Sales at OPT, emphasized the potential for these autonomous operations to enhance missions where conventional vessels face difficulties. The demonstration does not guarantee any procurement contract from the U.S. Government, but it may lead to further testing based on promising results and available funding.
Potential Positives
- Participation in a U.S. Army-hosted demonstration enhances OPT's visibility and credibility in the defense and maritime sectors.
- Demonstration of the WAM-V® maritime drone platform in challenging coastal conditions showcases its advanced capabilities, potentially leading to further interest from military and research applications.
- Successful performance in this demonstration may lead to considerations for follow-on testing, which could open avenues for future contracts and partnerships with the U.S. Army Corps of Engineers.
Potential Negatives
- Participation in the demonstration does not guarantee any procurement contract or commitment by the U.S. Government, indicating potential uncertainty about securing future business.
- The forward-looking statements highlight reliance on assumptions and estimates that may prove inaccurate, which could affect investor confidence.
- The lack of guaranteed funding for follow-on testing may limit future opportunities and raise questions about the viability of the company’s technology in practical applications.
FAQ
What is Ocean Power Technologies participating in?
Ocean Power Technologies is participating in a week-long uncrewed surface vehicle demonstration hosted by the U.S. Army Engineer Research and Development Center.
What technology will OPT demonstrate during the event?
OPT will demonstrate its WAM-V® maritime drone platform in live coastal conditions during the demonstration.
What are the applications of the technologies being evaluated?
The technologies are aimed at supporting bathymetric mapping and submerged-hazard detection for military and civil operations.
How does the WAM-V platform enhance maritime operations?
The WAM-V platform improves stability and reduces structural loading with its articulating suspension system, designed for challenging conditions.
Are there any commitments from the U.S. Government for procurement?
No, participation in the demonstration does not represent a procurement contract or commitment by the U.S. Government.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$OPTT Hedge Fund Activity
We have seen 35 institutional investors add shares of $OPTT stock to their portfolio, and 27 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- POLAR ASSET MANAGEMENT PARTNERS INC. added 3,043,227 shares (+inf%) to their portfolio in Q2 2026, for an estimated $797,325
- UBS GROUP AG added 2,887,946 shares (+72.5%) to their portfolio in Q2 2026, for an estimated $756,641
- HAMILTON CAPITAL PARTNERS, LLC added 500,195 shares (+inf%) to their portfolio in Q2 2026, for an estimated $131,051
- PEAK6 LLC removed 256,619 shares (-80.2%) from their portfolio in Q2 2026, for an estimated $67,234
- D'ORAZIO & ASSOCIATES, INC. removed 207,174 shares (-51.2%) from their portfolio in Q2 2026, for an estimated $54,279
- ROYAL BANK OF CANADA removed 187,500 shares (-26.6%) from their portfolio in Q2 2026, for an estimated $49,125
- STATE STREET CORP added 172,400 shares (+21.3%) to their portfolio in Q2 2026, for an estimated $45,168
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Full Release
MONROE TOWNSHIP, N.J., Sept. 09, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT ), a leader in intelligent maritime solutions and services, today announced that it is participating in a week-long uncrewed surface vehicle demonstration hosted by the U.S. Army Engineer Research and Development Center’s Coastal and Hydraulics Laboratory.
The demonstration, taking place at ERDC’s Field Research Facility in Duck, North Carolina, will evaluate technologies designed to sustain uncrewed surface vehicle operations through surf zones, breaking waves, currents and coastal inlets. OPT was previously selected to participate following a competitive technical evaluation and will demonstrate its WAM-V® maritime drone platform in live coastal conditions.
ERDC is assessing platforms and sensing technologies that can support bathymetric mapping and submerged-hazard detection. Potential applications include U.S. Army Corps of Engineers civil works missions and military operations such as logistics over the shore, where reliable information about nearshore water depths and hazards is critical to safe vessel transit.
“We believe reliable autonomous operations in the surf zone may open an important set of missions that remain difficult and hazardous for conventional vessels and personnel,” said Jason Weed, Senior Vice President Commercial Sales of OPT. “This demonstration gives us the opportunity to show how the WAM-V platform’s mobility, shallow draft and adaptable payload architecture can support nearshore operations in challenging real-world conditions.”
The WAM-V platform uses an articulating suspension system designed to improve stability and reduce structural loading while operating in waves. Its modular architecture can support hydrographic and other sensing payloads for defense, research and civil applications.
Participation in the demonstration does not represent a procurement contract or commitment by the U.S. Government. ERDC has stated that promising technologies may be considered for follow-on testing, subject to the availability of funding.
For additional information about OPT, please 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 groundbreaking products, services and solutions, visit www.OceanPowerTechnologies.com .
FORWARD-LOOKING STATEMENTS
This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words or phrases such as “may,” “will,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “seek,” “potential,” “should” and similar expressions. These statements reflect the Company’s current expectations regarding the demonstration, the performance and potential applications of its technologies, and the possibility of follow-on testing or commercial opportunities, including with the U.S. Army Corps of Engineers. These statements rely on assumptions and estimates that may be inaccurate and are subject to risks and uncertainties. Actual results could differ materially from those anticipated or expressed. Please refer to the Company’s most recent Forms 10-K and 10-Q and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation to update forward-looking statements except as required by law.
CONTACT INFORMATION
Investors:
203-561-6945 or [email protected]
Media:
609-730-0400 x402 or [email protected]
