Ocean Power Technologies Receives Further Contract For PowerBuoy Deployment By The Naval Postgraduate School In Monterey, California

Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it has received a further contract by the Naval Postgraduate School (NPS) in Monterey, California. This contract, which supports revenue generation in the near-term, adds to the deployment of OPT's PowerBuoy® as part of an ongoing initiative to enhance maritime domain awareness and connectivity in Monterey Bay and demonstrate the use of PowerBuoys® for multi-domain drone and communication integration.

Building on the success of the previously announced NPS contract, which included installing AT&T 5G technology on a PowerBuoy®, this new order focuses on integrating advanced subsea sensors into a PowerBuoy® equipped with OPT's latest Merrows™ suite for AI capable seamless integration of Maritime Domain Awareness (MDA) across platforms and utilizing communication technologies from AT&T for NPS. The PowerBuoy® will provide continuous, autonomous monitoring and data collection capabilities in one of the world's most strategically significant maritime environments.

This deployment will contribute to NPS's series of Field Experimentation exercises, designed to test and refine technologies that improve situational awareness and operational efficiency for naval operations. The PowerBuoy® will play a critical role in these exercises, offering a robust, resilient platform that supports persistent surveillance and secure communications in maritime settings. Permits pending, the integrated system will be deployed in the late Fall.