Rutgers, Stevens deals grow Ocean Power Technologies’ marine research footprint

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to discuss two new milestones that expand the company’s presence in the academic and marine research markets: the successful deployment of a PowerBuoy® system for Rutgers University and a new WAM-V® unmanned surface vehicle order from Stevens Institute of Technology. Stratmann said the Rutgers project, supported by the New Jersey Economic Development Authority, is now fully installed and operational off the coast of New Jersey. The deployed PowerBuoy replaces a legacy ocean monitoring system that depended on fixed seabed cables, providing continuous offshore power and communications without the need for permanent underwater infrastructure. The system is expected to support a range of research applications, including ocean monitoring, environmental data collection, and integration of both surface and subsea sensors. Management believes the flexible design of the PowerBuoy allows it to be deployed more quickly than traditional subsea cable systems while also enabling relocation, upgrades, and long-term expansion as research needs evolve. In a second development, Ocean Power Technologies received a purchase order from Stevens Institute of Technology for one of its WAM-V autonomous maritime drones. The vehicle will support advanced marine research and development initiatives and is currently in production. Stratmann noted that academic research customers represent an attractive market segment because they often involve multi-phase programs, recurring grant funding, and follow-on deployment opportunities. The latest Stevens order reflects growing demand for the company’s autonomous maritime systems and expands its footprint in university-led marine innovation programs. Management believes these two developments reinforce Ocean Power Technologies’ strategy of positioning its PowerBuoy and WAM-V platforms as flexible, scalable solutions for offshore research, environmental monitoring, and autonomous maritime operations. #proactiveinvestors #oceanpowertechnologiesinc #nyseamerican #optt #PhillipStratmann #PowerBuoy #WAMV #MaritimeTech #OceanResearch #AutonomousSystems #MarineTechnology #EnvironmentalMonitoring #Rutgers #StevensInstitute