Ocean Power Technologies Ships First PowerBuoy Under \$6.5M DHS Contract

Key Highlights

• Milestone Shipment: Ocean Power Technologies, Inc. (NYSE American: OPTT) has announced the shipment of the first PowerBuoy® system under its \$6.5 million contract with the U.S. Department of Homeland Security (DHS).
• Deployment for U.S. Coast Guard: The PowerBuoy® will support maritime domain awareness operations for the U.S. Coast Guard, marking a transition from system development to operational deployment.
• Strategic Integration: The PowerBuoy® system is to be deployed off the coast of California, providing persistent, autonomous offshore surveillance capabilities. Integration with Anduril’s technology is also progressing.
• Broader Impact: The PowerBuoy network will form part of DHS’s efforts to strengthen coastal and offshore monitoring capabilities.

Details for Investors

Ocean Power Technologies (OPT) reached a key milestone by shipping the first PowerBuoy® system under its previously announced \$6.5 million contract with the U.S. Department of Homeland Security. This contract is a significant win for OPT, positioning the company as a critical technology provider for U.S. national security and defense operations.

The shipment signals the move from project development to real-world operational deployment. The first PowerBuoy® unit, and subsequent systems under the contract, will be deployed off the coast of California, enabling persistent and autonomous maritime surveillance. These units are designed to enhance the U.S. Coast Guard’s maritime domain awareness, supporting a range of mission-critical security requirements.

OPT is also integrating its PowerBuoy® technology with Anduril’s advanced systems, expanding the operational capabilities and interoperability of its platforms. This partnership could potentially unlock more contract opportunities in the defense and security sectors.

According to Jason Weed, SVP Commercial Sales at OPT, “This shipment represents an important milestone in the execution of our DHS program and highlights the progress we have made in delivering innovative maritime infrastructure to support national security missions. We believe our PowerBuoy platform provides a unique capability for persistent offshore monitoring, enabling government agencies to enhance maritime domain awareness while reducing operational costs and logistical complexity.”

The systems will be deployed after the completion of site preparations and operational readiness checks. Once operational, the PowerBuoy network will deliver autonomous, real-time surveillance, supporting DHS’s broader strategy to strengthen offshore monitoring and situational awareness.

What Shareholders Need to Know

• This milestone shipment is a critical step in fulfilling a multi-million dollar government contract, demonstrating OPT’s ability to move from R&D to revenue-generating deployments. This may positively impact both investor confidence and future revenue streams.
• Strategic alignment with U.S. Homeland Security and technology partners like Anduril could position OPT for further contract wins and industry partnerships, potentially driving long-term growth and market share.
• The project’s successful delivery and operational performance are key to unlocking follow-on business and larger-scale deployments. Any issues or delays could present risks, so investors should monitor further updates closely.
• Price Sensitivity: The announcement of successful progress and government contract execution is typically seen as a positive catalyst for share price. However, the company also cautions that results are subject to risks and uncertainties, including system performance, contract conversion, and operational execution.

About Ocean Power Technologies

Ocean Power Technologies provides intelligent maritime solutions and services to the defense, security, oil and gas, science, research, and offshore wind markets. Its offerings include the Merrows™ AI-capable integration platform for maritime domain awareness, PowerBuoy® platforms for remote power and data communications, and WAM-V® autonomous surface vessels and marine robotics services. OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California.

Forward-Looking Statements

The company notes that this release contains forward-looking statements subject to risks and uncertainties, including the ongoing success of PowerBuoy® deployments, customer service delivery, and conversion of potential contracts into revenue. Actual outcomes may differ materially from current expectations.

Contact Information:
Investors: 203-561-6945 or [email protected]
Media: 609-730-0400 x402 or [email protected]

Disclaimer: This article is based on the latest press release and filings by Ocean Power Technologies as of March 2026. The information is intended for informational purposes only and does not constitute investment advice. Investors should consult the company’s SEC filings and their financial advisor before making investment decisions. The author and publisher are not responsible for any losses arising from reliance on this information.

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