8-K
Ocean Power Technologies, Inc. (OPTT)
View as plain text
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
Current
Report Pursuant to Section 13 or 15(d) of
the
Securities Act of 1934
Date of Report (Date of earliest event reported): March 24, 2026
OceanPower Technologies, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33417 | 22-2535818 |
|---|---|---|
| (State<br> or other jurisdiction<br><br> <br>of<br> incorporation) | (Commission<br><br> <br>File<br> Number) | (I.R.S.<br> Employer<br><br> <br>Identification<br> No.) |
| 28 Engelhard Drive, Suite B Monroe Township, New Jersey | 08831 | |
| --- | --- | |
| (Address<br> of principal executive offices) | **(**Zip<br> Code) |
(609)730-0400
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title<br> of each class | Trading<br> Symbol (s) | Name<br> of each exchange on which registered |
|---|---|---|
| Common<br> Stock, $0.001 Par Value | OPTT | NYSE<br> American |
| Series<br> A Preferred Stock Purchase Rights | N/A | NYSE<br> American |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events. |
|---|
On March 24, 2026, Ocean Power Technologies, Inc. (the “Company”) issued a press release announcing the shipment of the first PowerBuoy® system under its previously announced contract with the U.S. Department of Homeland Security. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
Exhibits
| 99.1 | Press release dated March 24, 2026. |
|---|---|
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Ocean Power Technologies, Inc. | |
|---|---|
| Dated:<br> March 26, 2026 | /s/ Philipp Stratmann |
| Philipp<br> Stratmann | |
| President<br> and Chief Executive Officer |
Exhibit99.1
OceanPower Technologies Advances U.S. Homeland Security Contract with Shipment of First PowerBuoy^®^
MONROETOWNSHIP, N.J. March 24, 2026 — Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the shipment of the first PowerBuoy® system under its previously announced $6.5M contract with the U.S. Department of Homeland Security (DHS). The system will support maritime domain awareness operations for the U.S. Coast Guard.
The shipment marks a key milestone in the program and represents the transition from system development and integration into operational deployment. This PowerBuoy® system, together with others under the contract, will be deployed off the coast of California to provide persistent, autonomous offshore surveillance capabilities supporting DHS mission requirements. Integration with Anduril’s systems is progressing in parallel.
“This shipment represents an important milestone in the execution of our DHS program and highlights the progress we have made in delivering innovative maritime infrastructure to support national security missions,” said Jason Weed, SVP Commercial Sales of Ocean Power Technologies. “We believe our PowerBuoy platform provides a unique capability for persistent offshore monitoring, enabling government agencies to enhance maritime domain awareness while reducing operational costs and logistical complexity.”
The system is expected to be deployed following final site preparations and operational readiness procedures. Once installed, the PowerBuoy network will support maritime surveillance operations as part of DHS’s broader efforts to strengthen coastal and offshore monitoring capabilities.
OPT continues to work closely with DHS and its technology partners to deliver autonomous maritime monitoring solutions designed to enhance situational awareness and support critical security operations.
For additional information about OPT, please visit our website Ocean Power Technologies.
ABOUTOCEAN 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.
FORWARD-LOOKINGSTATEMENTS
This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the continuing successful operations of the PowerBuoy® to be deployed in support of DHS, the delivery of customer services, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company’s most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
ContactInformation
Investors: 203-561-6945 or investorrelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com