Ocean Power Technologies expands maritime platform with subsea technology acquisition

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to discuss the company's acquisition of strategic subsea technology assets from Columbia Power Technologies, a move that expands its AI-enabled maritime infrastructure platform from the ocean surface to the seabed. Stratmann said the acquisition adds intellectual property and engineering expertise in subsea power systems, complementing the company's existing capabilities in offshore power generation, autonomous surface vehicles, maritime sensing, communications, and AI-powered software. The enhanced platform is designed to support persistent underwater operations, including autonomous underwater vehicles, subsea sensing, distributed communications, and long-duration maritime missions. The company also reported financial results for fiscal 2026, which management described as a transformational year as Ocean Power Technologies evolved from technology demonstrations to operational deployments serving defense, security, and commercial customers. Highlights included securing the company's largest deployment and recurring revenue contract—an approximately $6.5 million U.S. Coast Guard PowerBuoy® maritime domain awareness program—as well as integrating its PowerBuoy®, Merrows® AI platform, and autonomous technologies into active maritime security missions alongside leading defense partners, including Anduril. Ocean Power Technologies also ended the year with a record backlog of $19.8 million, a 58% increase from the previous year, providing improved visibility into future revenue. Looking ahead, Stratmann said the company's priorities include executing the U.S. Coast Guard deployment, converting its record backlog into revenue, and expanding relationships with U.S. government agencies, allied nations, and major defense contractors as demand for AI-enabled maritime infrastructure continues to grow. #proactiveinvestors #oceanpowertechnologiesinc #nyseamerican #optt #PhillipStratmann #PowerBuoy #WAMV #MaritimeTech #MaritimeTechnology #DefenseTech #ArtificialIntelligence #AutonomousSystems #USCoastGuard #OceanInnovation #Defense #CleanTech