Ocean Power Technologies Acquires Subsea Technology to Expand Maritime Platform
Ocean Power Technologies has acquired strategic subsea technology assets from Columbia Power Technologies, enhancing its AI-enabled maritime infrastructure platform. The acquisition adds intellectual property and engineering expertise in subsea power systems, complementing the company's existing capabilities in offshore energy generation, autonomous vehicles, sensing, communications, and software solutions. The move supports persistent underwater operations such as those involving autonomous underwater vehicles (AUVs), subsea sensors, distributed communication networks, and long-duration missions. The company also reported strong fiscal 2026 results, including a $6.5 million U.S. Coast Guard contract for its PowerBuoy® program—the largest deployment in the firm's history—and a record backlog of $19.8 million, up 58% year-over-year. Looking ahead, Ocean Power Technologies plans to execute on key contracts and expand relationships with government agencies and defense partners as demand grows for AI-enabled maritime infrastructure.
Topics: AI-Enabled Platforms Maritime Infrastructure Subsea Power Systems