Ocean Power Technologies (OPT)
Ocean Power Technologies develops autonomous maritime systems — wave-energy PowerBuoy platforms, WAM-V unmanned surface vehicles, and Merrows AI maritime domain awareness software — for defense, offshore energy, and research customers, with a primary focus on U.S. federal agencies and allied forces.
- Company typePublic
- Founded1984
- HeadquartersMonroe Township, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Ocean Power Technologies (OPT) does
Ocean Power Technologies (NYSE American: OPTT) is a U.S.-based provider of autonomous maritime systems that integrate renewable ocean energy generation with unmanned surface vehicles and AI-capable maritime domain awareness (MDA) software. Founded in 1984 and headquartered in Monroe Township, New Jersey, the company serves government/defense, offshore energy, and science/research customers globally, with its primary end-market being U.S. federal agencies (Department of Homeland Security, U.S. Coast Guard, U.S. Navy) and allied defense forces.
OPT's product architecture rests on three interconnected platforms: the PowerBuoy® wave energy converter (available in a 1.6 kW Wind/Solar Mini variant and a 4.1 kW Wind/Wave/Solar full-scale variant with 44–88 kWh battery storage), the WAM-V® family of unmanned surface vehicles (USVs) in 8–22 ft configurations featuring a patented articulating suspension system, and Merrows™, an AI-capable MDA software suite that fuses radar, AIS, EO/IR and acoustic sensor data for real-time threat detection. The platforms are designed to interoperate — PowerBuoys can serve as offshore charging stations for WAM-Vs, and Merrows integrates sensor outputs across the fleet, including with Anduril's Lattice command-and-control system.
The company monetizes through hardware sales (PowerBuoy and WAM-V systems), multi-year contract-based enterprise sales to defense and government customers, leasing arrangements (including revenue-sharing WAM-V deployments via partner Unique Group in the UAE), AUVSI-certified operator training services, and ongoing system support/data services. Pricing is custom quote-based given configuration variability. Distribution combines direct enterprise sales (especially for U.S. federal and defense primes) with an 18+ agent/distributor channel network spanning North America, Latin America, Europe, the Middle East (UAE, Kuwait), and Asia-Pacific. Revenue remains modest (Q3 FY2026 revenue of $513K, down from $825K YoY, with the company citing federal shutdown timing impacts), but contracted backlog stood at a record $19.9M as of January 31, 2026, up from $7.5M year-over-year, with a project pipeline cited in the $137.5M–$163.9M range (63% YoY growth).
Ocean Power Technologies (OPT) firmographics
Firmographics- Name
- Ocean Power Technologies (OPT)
- Legal name
- Ocean Power Technologies, Inc.
- Website
- https://oceanpowertechnologies.com
- Company type
- Public
- Founded year
- 1984
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Ocean Power Technologies develops autonomous maritime systems — wave-energy PowerBuoy platforms, WAM-V unmanned surface vehicles, and Merrows AI maritime domain awareness software — for defense, offshore energy, and research customers, with a primary focus on U.S. federal agencies and allied forces.
- Ownership category
- akta.pro rank
Ocean Power Technologies (OPT) industry classification
Industry- Product category
- Autonomous Maritime Systems
- NAICS
- Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)
- SIC
- Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Unmanned Surface Vehicles (USV) & Autonomous Maritime Surface Platforms (IMABAIAE)
- akta.pro secondary industries
- Marine Power Generation & Energy Storage (Generators, Batteries, UPS) (IMAJAJAB), Maritime Unmanned Systems (USV/UUV) & Control Stations (IMABAKAJ)
Keywords
Where Ocean Power Technologies (OPT) is headquartered
LocationHeadquarters
- HQ city
- Monroe Township
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Ocean Power Technologies (OPT) business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- PowerBuoy Systems Sales: Sale of PowerBuoy autonomous maritime platforms, including the Wind and Solar Mini and Wind Wave and Solar models. Revenue recognized upon deployment and commissioning. Currently generating minimal revenue ($0.4M Q2 2026) with significant backlog conversion pending.
- WAM-V USV Sales and Leasing: Sale and lease of WAM-V unmanned surface vehicles for defense, security, and commercial applications. Includes recurring lease income from WAM-V deployments, particularly in international markets like the UAE through Unique Group partnership.
- Training Services: AUVSI-certified operator training services using WAM-V platform for government, defense, commercial, and academic customers. Offered at Pacific and Atlantic coastal facilities and customer sites, creating recurring revenue stream.
- System Support and Data Services: Ongoing system support, maintenance, and data services for deployed maritime autonomy infrastructure. Management expects revenue growth to shift toward higher-margin services, data, and system support as international deployments scale.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom quote-based pricing for PowerBuoy and WAM-V systems |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Ocean Power Technologies (OPT) product offering
Product offeringCore offering
Ocean Power Technologies (OPT) designs, manufactures, and sells autonomous maritime platforms that combine renewable ocean energy generation with unmanned surface robotics and AI-powered maritime domain awareness software. Its product portfolio includes the PowerBuoy wave/wind/solar energy converter platforms, the WAM-V family of unmanned surface vehicles (USVs), and the Merrows AI-capable maritime domain awareness software, sold primarily to government, defense, offshore energy, and research customers.
Product overview
Ocean Power Technologies offers a modular platform architecture centered on three interconnected products: the PowerBuoy® wave energy converter platform (available in Wind and Solar Mini and full-scale Wind, Wave and Solar variants) providing autonomous offshore power generation; the WAM-V® family of unmanned surface vehicles (USVs) in 16 and 22-foot configurations offering maritime robotics capabilities; and Merrows™, an AI-capable Maritime Domain Awareness software solution that integrates across both platforms. The PowerBuoy serves as the core power and sensor hosting infrastructure, the WAM-V provides mobility and data collection capabilities, and Merrows unifies the ecosystem with AI-powered analytics for threat detection and classification. Together, these products enable persistent offshore monitoring, autonomous maritime operations, and real-time ocean intelligence for defense, energy, and research applications.
Differentiator
Problem solved
Functional benefit
Brands
- PowerBuoy: Autonomous wave, wind, and solar-powered maritime platform providing continuous surface power and sensor hosting for defense, energy, and research applications
- WAM-V
- Merrows
Products and services
- PowerBuoy® Autonomous wave energy converter platform that generates clean, renewable electric power from ocean waves, wind, and solar, providing continuous surface power and sensor hosting for remote maritime and subsea applications with real-time data communications. Sold to government, defense, energy, and research customers.
- PowerBuoy® Wind and Solar Mini (PB 2.0 Mini) Compact autonomous buoy platform powered by solar and wind energy with 1.6 kW solar capacity and 1 wind turbine, providing persistent renewable power with 5G/4G/LTE communications for maritime monitoring, AUV residency, and offshore operations.
- PowerBuoy® Wind, Wave and Solar (PB 2.0) Full-scale autonomous maritime platform combining wave, wind, and solar energy generation with 4.1 kW solar capacity, 2 wind turbines, and 44-88 kWh battery capacity, designed for demanding missions and 50-year storm survival.
- WAM-V® (Wave Adaptive Modular Vessel) Unmanned surface vehicle (USV) with patented articulating suspension system that absorbs wave impact, providing unmatched stability for high-precision sensors and hydrographic surveys in harsh maritime conditions. Available in 8-22 foot lengths for defense, security, and commercial applications.
- Merrows™ Maritime Domain Awareness Solution AI-capable Maritime Domain Awareness (MDA) software suite that integrates sensors (radar, AIS, EO/IR cameras, acoustic sensors) and fuses raw data into a unified stream for edge-processed, AI-ready analysis, supporting real-time threat detection and classification for defense and security customers.
- AUVSI-Certified WAM-V Operator Training Certified operator training services using the WAM-V platform for government, defense, commercial, and academic customers, offered at Pacific and Atlantic coastal facilities and customer sites.
Quantifiable outcome
- Up to 4 tons of carbon displaced per PowerBuoy deployment per year
- +2 more outcomes
Companies that use Ocean Power Technologies (OPT)
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Ocean Power Technologies (OPT) technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability4 records
Feature4 records
Ocean Power Technologies (OPT) partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- AndurilcoreMulti-buoy contract deploying MERROWS-equipped PowerBuoy systems integrated with Anduril's Lattice Command-and-Control system for U.S. Coast Guard homeland security operations. Creates integrated maritime domain awareness architecture combining OPT's power/surveillance platforms with Anduril's AI-powered control systems.
- Rutgers UniversityminorPartnership to deploy PowerBuoy research buoy for LEO ocean research program off New Jersey coast, revitalizing ocean research capabilities. Collaborates with Stockton University and NJEDA.
- Mythos AIcorePartnership to integrate advanced AI autonomy software across OPT's WAM-V fleet and PowerBuoy platforms. Combines OPT's platform engineering with Mythos AI's real-time edge processing, multi-sensor fusion, and adaptive learning architecture. Initial demonstrations planned for early 2026.
- Remah International Group (RIG)corePartnership with UAE-headquartered defense services company for WAM-V USV delivery and regional expansion. OPT shipping WAM-Vs to RIG with plans to establish sales and operations office in Middle East.
- Unique GroupcoreMaster Services Agreement making Unique Group the exclusive execution partner for non-defense WAM-V USV projects in UAE. Agreement includes immediate WAM-V 22 vessel lease with revenue sharing and purchase options, plus plans for regional MRO hub.
- Latin America-based PartnerminorStrategic reseller agreement for Mexican offshore and maritime markets including $3 million purchase commitment for WAM-V USVs, expanding OPT's commercial footprint in Latin America.
- U.S. Naval Postgraduate SchoolminorContract for PowerBuoy deployment at Monterey Bay for enhanced maritime domain awareness and connectivity, integrating multi-domain drones, communication systems, and AT&T 5G technology.
Scale indicators7 records
Ocean Power Technologies (OPT) competitors and assessment
Company assessmentDirect peers
- Saildrone: Saildrone builds wind/solar-powered autonomous uncrewed surface vehicles used for persistent maritime data collection, ocean mapping, and defense MDA — directly competing with OPT's WAM-V/PowerBuoy/Merrows combination for the same defense and science customers.
- Sea Machines Robotics: Sea Machines provides autonomous control and perception software for commercial marine vessels and USVs, directly overlapping with WAM-V/Merrows in bringing autonomy and AI situational awareness to surface platforms for defense and commercial users.
- ThayerMahan: ThayerMahan specializes in autonomous maritime surveillance, undersea sensors, and persistent MDA for U.S. and allied navies, competing head-to-head for Coast Guard, Navy, and DHS maritime domain awareness program dollars.
Emerging players
- Maritime Robotics: Maritime Robotics supplies USVs and autonomous control systems for hydrographic survey and ocean observation — overlapping with WAM-V's hydrographic/survey use case and competing for research and offshore-energy survey contracts.
- AutoNaut: AutoNaut builds wave-and-solar-propelled uncrewed surface vessels for long-endurance ocean data collection — overlapping with PowerBuoy's persistent-power and WAM-V's data-collection value proposition for science and defense customers.
Broad incumbents
- Kongsberg Maritime: Kongsberg Maritime is a large incumbent offering naval/maritime automation, autonomous surface and underwater systems, and integrated bridge/control products, broadly overlapping with OPT across WAM-V autonomy, PowerBuoy sensor hosting, and defense MDA deployments.
- L3Harris Technologies: L3Harris is a major defense prime with maritime sensing, unmanned surface/undersea systems, and C4ISR portfolios — a broad incumbent that supplies many of the same DHS, Coast Guard, and allied navies OPT targets.
- HII (Huntington Ingalls Industries): HII builds U.S. Navy ships and is expanding into unmanned maritime systems and mission autonomy — a broad incumbent positioned to capture the same DEF and allied naval programs that fund OPT's growth.
- Teledyne Technologies: Teledyne supplies marine sensors, instruments, and autonomous underwater vehicles to defense, science, and offshore-energy clients, broadly comparable to the instrumenting and persistent-power capabilities of OPT's PowerBuoy/Merrows stack.
Others
- Anduril Industries: Anduril is OPT's strategic C2 partner (Lattice integration) for MERROWS-equipped PowerBuoy nodes but is also a broader maritime autonomy prime that could field competing persistent-surveillance platforms over time.
Market position
Strengths5 records
Weaknesses5 records
Key risks7 records
Key highlights7 records
Customer concentration
Ocean Power Technologies (OPT) social profiles
Digital presenceOcean Power Technologies (OPT) compliance and trust
Trust signalCompliance3 records
Ocean Power Technologies (OPT) financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ocean Power Technologies (OPT) leadership team
Management profileNumber of profiles
Profiles4 records
Ocean Power Technologies (OPT) funding detail
Funding detailFunding overview
Funding rounds5 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ocean Power Technologies (OPT) M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ocean Power Technologies (OPT)
What does Ocean Power Technologies (OPT) do?
Ocean Power Technologies (OPT) designs, manufactures, and sells autonomous maritime platforms that combine renewable ocean energy generation with unmanned surface robotics and AI-powered maritime domain awareness software. Its product portfolio includes the PowerBuoy wave/wind/solar energy converter platforms, the WAM-V family of unmanned surface vehicles (USVs), and the Merrows AI-capable maritime domain awareness software, sold primarily to government, defense, offshore energy, and research customers.
Is Ocean Power Technologies (OPT) a public or private company?
Ocean Power Technologies (OPT) is a public company. It is classified as public and is currently operating.
When was Ocean Power Technologies (OPT) founded?
Ocean Power Technologies (OPT) was founded in 1984. It employs 51 to 100 people.
Where is Ocean Power Technologies (OPT) based?
Ocean Power Technologies (OPT) is headquartered in Monroe Township, United States, in the North America region.
How does Ocean Power Technologies (OPT) make money?
Four revenue lines are on record. PowerBuoy Systems Sales are the primary driver. The others are WAM-V USV Sales and Leasing, training Services and system Support and Data Services.
Who are Ocean Power Technologies (OPT)'s main competitors?
Direct peers on record are Saildrone, Sea Machines Robotics and ThayerMahan. Emerging players are Maritime Robotics and AutoNaut. Broad incumbents are Kongsberg Maritime, L3Harris Technologies, HII (Huntington Ingalls Industries) and Teledyne Technologies. Anduril Industries is listed as an others.
Does Ocean Power Technologies (OPT) have an API?
No public API is recorded for Ocean Power Technologies (OPT).
What industry is Ocean Power Technologies (OPT) in?
Ocean Power Technologies (OPT)'s product category is Autonomous Maritime Systems. Its primary akta.pro industry code is IMABAIAE, Unmanned Surface Vehicles (USV) & Autonomous Maritime Surface Platforms, with a secondary code of IMAJAJAB, Marine Power Generation & Energy Storage (Generators, Batteries, UPS). Its NAICS code is 334511 and its SIC code is 3812.