Offshore Power Technology Signs Contract with Department

Monroe, NJ, Oct. 5, 2022 (GLOBE NEWSWIRE) — Ocean Power Technologies (“OPT” or the “Company”) (NYSE: OPTT), a leader in innovative and cost-effective low-carbon ocean data, power and consulting services solutions, has been selected by Amentum Services for a total of 529,025 Purchase in US dollars. OPT was procured to assist Amentum in providing land, air, space, and port and coast surveillance services for the Department of Defense (DoD) Information Analysis Center (IAC) in support of the U.S. Department of Homeland Security (DHS) Technology Directorate (S&T).

OPT’s work under the subcontract will include scientific hardware delivery, training and integration services for the Department of Homeland Security’s Technology Port and Coastal Surveillance (P&CS) program. The P&CS project aims to identify and integrate sensors and systems and share data applicable to a full range of offshore operations. OPT will provide the required hardware, hardware deployment support, software, software deployment support, integration services, monitoring and telemetry data, and related training to support the PB3 PowerBuoy® Equipped with OPT’s proprietary maritime domain awareness solution. Deploy marine domain awareness solutions to support security efforts to detect illegal, unreported and unregulated (IUU) fishing, black boats and human/drug trafficking in 24/7/365 operations.

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(Image: OPT’s PB3 PowerBuoy® Equipped with a proprietary maritime domain awareness solution. )

“We at OPT are proud to support the mission of the Department of Homeland Security to help protect the nation’s coastline,” said OPT President and CEO Philipp Stratmann. “Ocean security is national security. We believe OPT’s systems are well suited for long-term sea area awareness deployments with little adverse impact on the environment. DHS has thousands of miles of coastline to protect and needs to develop detailed, sustainable information resources to carry out its mission of protecting our nation. We look forward to working with our partner, Amentum, to provide the Department of Homeland Security with new technologies to help it achieve these goals.”

About the DoD IAC Program:
The DoD IAC, sponsored by the Defense Technology Information Center, provides technical data management and research support to DoD and federal government users. Established in 1946, the IAC program serves the Department of Defense’s science and technology (S&T) and acquisition communities to enhance collaboration by providing comprehensive scientific and technological information development and dissemination for the Department of Defense and the broader science and technology community to drive innovation and technology development.

About Ocean Power Technology:
OPT provides smart maritime solutions and services that enable safer, cleaner and more efficient marine operations for the defense and security, oil and gas, science and research, and offshore wind markets.Our powered buoys® The platform provides clean and reliable power and real-time data communications for remote offshore and subsea applications. We also offer WAM-V® Autonomous Surface Vessel (ASV) and marine robotics services are provided through our wholly owned subsidiary Marine Advanced Robotics. We are headquartered in Monroe, NJ with offices in Houston, Texas and Richmond, California. To learn more, visit

Forward-Looking Statements:
This press release may contain forward-looking statements that fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may,” “will,” “target,” “will likely result,” “believe,” “expect,” “will continue,” “expect,” “estimate,” “,” “intends,” “plans,” “consides,” “seeks,” “future,” “goals,” “goals,” “projects,” “should,” “will pursue” and similar expressions or expressions variants. These forward-looking statements reflect the company’s current expectations about its future plans and performance. These forward-looking statements rely on certain assumptions and estimates that may be inaccurate and are subject to risks and uncertainties. Actual results may differ from the company’s The results expected or expressed in any forward-looking statements made differ materially from those expected or expressed. For a further discussion of these risks and uncertainties, please refer to the company’s most recent Forms 10-Q and 10-K and subsequent SEC filings The company disclaims any obligation or intention to update forward-looking statements to reflect events or circumstances after the date of this press release.

Contact information
Investors: 609-730-0400 x401 or
Media: 609-730-0400 x402 or

Disclaimer: This material is based on work supported by the Department of Defense Information Analysis Center program (DoD IAC) by the Defense Technology Information Center (DTIC) under contract number FA807518D0014/FA807520F0084.

Approved for public distribution, unlimited distribution: Any opinions, findings and conclusions or recommendations expressed in this material are those of the author and do not necessarily reflect the views of the Department of Defense.

Photos accompanying this announcement are available at

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