Ocean Power Technologies
Monroe Township, New Jersey, United States · Renewable Energy, Transportation
OPT, a leader in innovative and cost-effective, low carbon marine data, power, and consulting services, 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. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data
Key facts
- Headquarters
- Monroe Township, New Jersey, United States
- Employees
- 76
- Industries
- Renewable Energy, Transportation
- Status
- Public (OPTT)
- Website
- oceanpowertechnologies.com
- Company page
Recent activity at Ocean Power Technologies
- : SEC 8-K (1.01): On November 2, 2026, Ocean Power Technologies, Inc. entered into a Securities Purchase Agreement with Vanquish Funding Group Inc., involving the issuance of a 12% promissory note amounting to $373,750. The note has an original issue discount of $48,750, resulting in a net purchase price of $325,000, and allows for additional financing of up to $2,875,000 over the next twelve months contingent on further agreements. The note matures on October 30, 2027, with a prepayment option at a discount based on the timing of repayment. The proceeds from the note will be utilized for general working capital purposes, and in the event of default, the outstanding amount could be converted into shares of common stock at a 25% discount to the lowest trading price prior to a certain timeframe. This arrangement highlights strategic financing aimed at enhancing the Company's liquidity and operational capability.
- : OCEAN POWER TECHNOLOGIES, INC. and Stratum Holdings Sign Letter of Intent for Strategic Collaboration
- : SEC 8-K (8.01): On October 26, 2026, Ocean Power Technologies, Inc. announced the execution of a letter of intent with Stratum Holdings for a strategic collaboration aimed at demonstrating offshore renewable-powered data center assets. This partnership potentially indicates a significant shift towards sustainable energy solutions in data management, highlighting the strategic importance of harnessing renewable energy for technological advancements. The press release detailing this initiative is included as Exhibit 99.1 in the filing.
- : SEC 8-K (5.02): On September 30, 2026, Robert Powers departed from his position as Chief Financial Officer of Ocean Power Technologies, Inc. pursuant to a mutual agreement with the Board. His departure involved the termination of his employment letter from December 13, 2021, and in connection with this departure, the Company entered into an engagement agreement with Flexible Consulting, LLC for the services of Victoria Hay as the interim Chief Financial Officer. Mrs. Hay, who has extensive experience including acting as CFO for other companies, will assume her role immediately while the search for a permanent CFO is underway. Mr. Powers will receive six months of salary, his fiscal 2026 bonus, and continued health benefits until October 31, 2026, while assisting in the transition until October 14, 2026.
- : SEC 8-K (1.01): On September 25, 2026, Ocean Power Technologies, Inc. entered into Exchange Agreements with the holders of its Series C-1 Convertible Notes. The Noteholders exchanged their Existing Notes for Series D Convertible Notes at a reduced conversion price from $12.00 to $2.45. The Series D Notes, which bear an interest rate of 4.5% per annum, will mature eighteen months from the issuance date. Significant terms include restrictions on beneficial ownership and conversion limits, ensuring compliance with NYSE American regulations. The restructuring aims to improve liquidity and manage debt repayments effectively.
- : Tracy Pagliara Appointed Acting President and CEO of Ocean Power Technologies
- : Ocean Power Technologies Appoints Tracy Pagliara as Acting CEO and Jason Weed as COO
- : SEC 8-K (1.01): On September 14, 2026, Ocean Power Technologies, Inc. (the 'Company') entered into a new employment agreement with Tracy Pagliara, who was appointed as Acting President and Chief Executive Officer. This agreement, known as the Pagliara Employment Agreement, replaces the prior agreement dated January 16, 2025. Under the new agreement, Mr. Pagliara's annual base salary is capped at $400,000, and he is eligible for a performance-based bonus targeted at 75% of his base salary, subject to terms and conditions set by the Company. This agreement is significant for the Company's executive leadership and aligns compensation with performance metrics.
- : SEC 8-K (8.01):
- : SEC 8-K (8.01): On August 17, 2026, Ocean Power Technologies, Inc. initiated a strategic investment review, as announced in their press release. This assessment aims to determine opportunities for optimizing the company's investment strategy and enhancing shareholder value. Details regarding the nature of the investments are not specified, but such a review usually involves analyzing current operations and exploring potential partnerships or acquisitions. The event indicates proactive management efforts to navigate market conditions effectively.
Ocean Power Technologies funding history
| Date | Round | Amount |
|---|---|---|
| Feb 2024 | Funding Round | Undisclosed |
Leadership
- Robert, Senior Director Business Development
- Tracy Pagliara, President
- Jason Weed, Chief Operating Officer
- Philipp Stratmann, Chief Executive Officer
Verified email and direct lines for Ocean Power Technologies’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Employee benefit plans
Ocean Power Technologies files 2 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.
Ocean Power Technologies in the news
- Ocean Power Technologies Announces Shipment Of WAM-Vs To The UAE - Ocean News & Technology (Sep 02, 2025)
- Ocean Power Technologies Initiates Review of Strategic Alternatives to Maximize Stockholder Value | OPTT Stock News - Quiver Quantitative (Aug 17, 2026)
- A 300-pound amphibious vehicle was released offshore, then reached the beach - Stock Titan (Oct 06, 2026)
- 30 shares become one for Ocean Power Technologies on Sept. 14 - Stock Titan (Sep 10, 2026)
- Ocean Power Technologies Announces WAM-V Demonstration in U.S. Army ERDC Coastal Operations Trial - Quiver Quantitative (Sep 09, 2026)
- Ocean Power Technologies, Inc. (OPTT) company profile and facts - Yahoo Finance Singapore (Jun 14, 2017)
- Researchers plan to use a maritime drone for coastal sensing - Stock Titan (Oct 08, 2026)
- Ocean Power Technologies Completes Proof of Concept for Greensea IQ Offshore Deployment of Bayonet 150 From Modified WAM-V 16 - Quiver Quantitative (Oct 06, 2026)
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About Ocean Power Technologies: questions and answers
What does Ocean Power Technologies do?
OPT, a leader in innovative and cost-effective, low carbon marine data, power, and consulting services, 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. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data
Where is Ocean Power Technologies headquartered?
Ocean Power Technologies is headquartered in Monroe Township, New Jersey, United States.
How many employees does Ocean Power Technologies have?
Ocean Power Technologies has about 76 employees.
Has Ocean Power Technologies raised funding?
Yes. Fundz has recorded 1 funding event for Ocean Power Technologies. The most recent, Funding Round of Undisclosed, was in Feb 2024.
Who leads Ocean Power Technologies?
Tracy Pagliara is a President at Ocean Power Technologies.
What is the latest news on Ocean Power Technologies?
On Nov 03, 2026, SEC 8-K (1.01): On November 2, 2026, Ocean Power Technologies, Inc. entered into a Securities Purchase Agreement with Vanquish Funding Group Inc., involving the issuance of a 12% promissory note amounting to $373,750. The note has an original issue discount of $48,750, resulting in a net purchase pr
Is Ocean Power Technologies a public company?
Yes. Ocean Power Technologies is publicly traded under the ticker OPTT.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy