Ocean Power Technologies Delivers WAM-V Unmanned Surface Vehicle to Stevens Institute
Ocean Power Technologies Inc (NYSE-A:OPTT) has delivered a Wave Adaptive Modular Vessel (WAM-V), an unmanned surface vehicle, to the Stevens Institute of Technology. The delivery was made five weeks after the order was placed in June 2026 and is intended for marine research and development initiatives at the institute. This transaction supports OPT's strategy to expand its presence in academic research markets while converting existing backlog into revenue. The company highlighted that this timely delivery reflects strong manufacturing capabilities, driven by investments in inventory and capital expenditures. CEO Philipp Stratmann emphasized disciplined execution as a key factor for long-term value creation across multiple market segments including research, commercial, and defense. The Stevens Institute order is part of OPT's broader growth strategy targeting recurring funding opportunities and potential follow-on orders. Shares of Ocean Power Technologies rose approximately 9.4% following the announcement.
Topics: academic partnerships marine research unmanned surface vehicle WAM-V