Ocean Power Technologies Selected by U.S. Government for Further Assessment of its Maritime Drones

Ocean Power Technologies, Inc. (NYSE American: OPTT) today announced that it has received notification from the U.S. Government that its maritime drone technology, the WAM-V unmanned surface vehicle (USV), has been selected for further engagement following a recent competitive capability assessment.

The notification represents another step in OPT's ongoing engagement with the U.S. Government and validates the Company's continued investment in autonomous maritime capabilities. While not a contract award, the selection creates an opportunity for future technical engagement and reinforces the growing relevance of OPT's USV platform to U.S. defense and security customers.

The notification is not a contract award or procurement decision, and there can be no assurance that it will result in additional government engagements or future business opportunities.

ABOUT OCEAN POWER TECHNOLOGIES OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s groundbreaking products, services and solutions, visit www.OceanPowerTechnologies.com.