Ocean Power Technologies deploys PowerBuoy for Rutgers, receives maritime drone order from Stevens Institute

Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has deployed and commissioned a PowerBuoy system for Rutgers University off the coast of New Jersey and received an order for a WAM-V unmanned surface vehicle from Stevens Institute of Technology.

The Rutgers project, supported by the New Jersey Economic Development Authority, is fully installed and operational, according to the company. The PowerBuoy system replaces an existing ocean monitoring setup that relied on fixed seabed cables and is designed to provide continuous offshore power and communications without permanent infrastructure.

Ocean Power said the system will be used to support ocean research, environmental monitoring, and the integration of surface and subsea sensors.

Separately, Stevens Institute of Technology placed an order for one of the company's WAM-V maritime drones, which will support marine research and development initiatives. Ocean Power said the vehicle is currently in production.

The company said academic research programs often involve multiple phases, recurring funding opportunities, and the potential for follow-on deployments.

Ocean Power noted that its PowerBuoy systems can be deployed and relocated more easily than traditional subsea cable systems and can be upgraded over time to accommodate additional sensors, expanded capabilities, and long-term service requirements.

Philipp Stratmann, Ocean Power CEO, said the Rutgers deployment demonstrates the company's efforts to move awarded projects into operational systems and revenue generation, while the Stevens order highlights continued demand for its autonomous maritime technologies within the academic research sector.

“We are building a growing base of customers that require ongoing deployments, upgrades, and support. With both Rutgers University and Stevens Institute of Technology based in New Jersey, we are proud to continue our active collaboration within the state,” Stratmann said.