Ocean Power Technologies expands with Columbia Wave IP - ICYMI

Ocean Power Technologies Inc (NYSE-A:OPTT) CEO Philipp Stratmann talked with Proactive astir the company's acquisition of the subsea question powerfulness generating intelligence spot portfolio from Columbia Wave Power, caller fiscal results and however the concern is expanding its capabilities from aboveground maritime operations to seabed infrastructure.

Proactive: Welcome backmost wrong our Proactive newsroom. Joining maine present is Philipp Stratmann, CEO of Ocean Power Technologies. Philipp, it's large to spot you again. How are you doing?

Philipp Stratmann: I'm doing well. It's bully to beryllium connected again.

You precocious reported your fiscal results and besides completed an acquisition. Tell america astir the acquisition.

We acquired the subsea question powerfulness generating IP portfolio from Columbia Wave Power. We've been focused connected aboveground maritime domain consciousness and maritime dominance, but this acquisition helps america widen our offering from the aboveground down to the seabed. As experts successful maritime powerfulness procreation astatine a non-grid-connected scale, it completes an important portion of our wide solution.

Why is the surface-to-seabed capableness truthful significant?

While overmuch of our enactment is supra the water, overmuch of what customers request to show is beneath it. Our existing buoy systems already enactment subsea applications, including underwater cablegram connections successful Monterey Bay and subsea junction boxes successful Chile that cod biology data. This acquisition allows america to grow into the subsea domain, powering underwater sensors, robotics and different instrumentality portion complementing our existing aboveground technologies.

It sounds similar this creates a much implicit exertion offering.

Exactly. We've described it arsenic providing the operational infrastructure furniture that's presently missing. Everyone talks astir robots and autonomous vessels, but those systems inactive request monitoring, consciousness and power. We tin present supply that operational infrastructure from seabed to aboveground and assistance customers present a much holistic solution.

Turning to your fiscal results, FY26 included your largest deployment and recurring gross declaration worthy astir $6.5 cardinal from the US Coast Guard. It seems similar a transformational year.

It truly was. We worked connected transforming the institution from being a exertion supplier into an infrastructure services provider. In FY27 we'll absorption connected expanding recurring revenue, converting much pipeline opportunities into contracted backlog and accelerating backlog conversion into revenue.

Government contracts stay an important opportunity?