Ocean Power Technologies launches strategic alternatives review

Ocean Power Technologies launches strategic alternatives review

Mon, August 17, 2026 at 4:23 PM GMT+3 1 min read

• OPTT -2.84%

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that its Board of Directors has initiated a review of strategic alternatives with the goal of maximizing value for its stockholders.

The company has retained Bowen, an investment banking advisory firm, as its financial advisor in connection with the review.

The Board intends to consider a full range of potential alternatives that could accelerate OPT's growth, expand market access and strengthen its financial position.

"OPT has built a differentiated portfolio of intelligent maritime technologies and established a growing position across defense, security and commercial markets," said Joseph Diguardo, acting chairman of the Board of OPT.

"Given the increase in demand for maritime technologies, we believe this is an appropriate time to evaluate opportunities that can accelerate our next phase of growth and create additional value for stockholders."

"Our team remains fully focused on serving customers and executing during this process," added OPT CEO Philipp Stratmann. "Day-to-day operations, customer commitments and product support will continue without interruption."

The company said that there can be no assurance that the exploration of strategic alternatives will result in any agreement or transaction, or, if a transaction is undertaken, as to its terms, structure or timing.

OPT has not set a timetable for completion of the process and does not intend to comment on or disclose developments regarding the process unless and until the Board has approved a definitive course of action, the process is concluded, or it is otherwise determined that disclosure is appropriate or legally required. The Board has not approved a definitive course of action at this time.