Business UpdateJul 30, 2026, 08:18 AM
Ocean Power Technologies Delivers WAM-V® to Stevens Institute
AI Summary
Ocean Power Technologies, Inc. announced the successful delivery of its WAM-V® unmanned surface vehicle (USV) to Stevens Institute of Technology, completing an order announced in June 2026. This delivery, achieved in just five weeks, marks a significant milestone in converting customer backlog into revenue and operating cash flow. The WAM-V® will support advanced marine research at Stevens and further expand OPT's presence in the academic research market, demonstrating the company's strong execution and operational capabilities.
Key Highlights
- Ocean Power Technologies successfully delivered its WAM-V® USV to Stevens Institute of Technology.
- The delivery completed an order announced in June 2026.
- The WAM-V® was delivered in five weeks from order to delivery.
- This expands OPT's presence within the academic research market.
- The delivery converts customer backlog into revenue and operating cash flow.
- It follows the recently completed Rutgers PowerBuoy® deployment.
Price Impact
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