MONROE TOWNSHIP, N.J., Aug.  17, 2026  (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (&#34;OPT&#34; or the &#34;Company&#34;) (NYSE:OPTT), a leader in maritime operational infrastructure and autonomous ocean

OPTT

Ocean Power Technologies Initiates Review of Strategic Alternatives

OPT Initiates Strategic Alternatives Review; Bowen to Advise Value Maximization

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>MONROE TOWNSHIP, N.J., Aug.  17, 2026  (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (&amp;#34;OPT&amp;#34; or the &amp;#34;Company&amp;#34;) (NYSE:OPTT), a leader in maritime operational infrastructure and autonomous ocean</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Ocean Power Technologies (OPTT) said its board has begun a strategic alternatives review to maximize stockholder value, with Bowen, Inc. engaged as advisor. The move could unlock growth opportunities, attract potential buyers or partners, and reshape OPT&#039;s financial position, though no timetable or guarantee of a transaction was provided. Operational continuity remains solid, reducing near-term execution risk while investors weigh potential outcomes.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Board initiates strategic alternatives review. Bowen, Inc. named advisor.</li><li>Board will consider full range of options to accelerate growth. No timetable set.</li><li>No conference call; day-to-day operations unaffected. Customer commitments and product support continue.</li><li>Forward-looking statements warn risks; listing, customer conversions, and revenue. Real results may differ materially.</li><li>OPT&#039;s AI tech Merrows and PowerBuoys drive interest. Strategic review could unlock value.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Ocean Power Technologies, Inc. (OPTT)</strong>: Board-initiated strategic alternatives review; potential value impact.</li><li><strong>Bowen, Inc. (N/A)</strong>: Financial advisor retained for strategic review; may influence process timing and terms.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The article reports a strategic review rather than earnings; it could presage M&amp;A activity or strategic partnerships, impacting OPTT valuation and liquidity.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Strategic review outcome could lead to a sale, partnership, or financing.</li><li>No timetable; stock may remain volatile on speculation.</li><li>Advisory appointment Bowen, Inc. signals seriousness of the process.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date: Aug 17, 2026.</li><li>Board initiated strategic alternatives review.</li><li>Bowen, Inc. engaged as financial advisor.</li><li>No timetable for completion or definitive action.</li><li>Operations continue; listing risk cited.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Neutral near-term; a value-maximizing deal could lift OPTT in weeks to months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>MONROE TOWNSHIP, N.J., Aug.  17, 2026  (GLOBE NEWSWIRE) -- <strong>Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OPTT">OPTT</a>)</strong>, a leader in maritime operational infrastructure and autonomous ocean systems, today announced that that its Board of Directors has initiated a review of strategic alternatives with the goal of maximizing value for its stockholders.</p>  <p>The Company has retained Bowen, Inc., an investment banking advisory firm, as its financial advisor in connection with the review.</p>  <p>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.</p>  <p>"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."</p>  <p>&#34;Our team remains fully focused on serving customers and executing during this process,&#34; added Philipp Stratmann, President and Chief Executive Officer. &#34;Day-to-day operations, customer commitments and product support will continue without interruption.&#34;</p>  <p>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. The Company 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.</p>  <p>The Company does not intend to host a conference call regarding this announcement and does not expect to respond to individual inquiries regarding the process.</p>  <p>For more information about Ocean Power Technologies, visit <a href="https://www.globenewswire.com/Tracker?data=rmYW7eWtP9g5YRwrWl1j6CZYyFuD4HJRlbVEDgeNgwFOPcphAL2GANvcPGvuHSy2-mTSeOGxExpRoRM0rmgTL5-QN3_ZHww61Yq0QSlRGnqZZA5p1Pt-FJs78n3ChpHq" rel="nofollow" target="_blank">www.OceanPowerTechnologies.com</a>.<br></br></p>  <p><strong>ABOUT OCEAN POWER TECHNOLOGIES</strong></p>  <p>OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows&#x2122;, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy<sup>&#xAE;</sup> platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V<sup>&#xAE;</sup> unmanned surface vessels (USVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s products, services and solutions, visit <a href="https://www.globenewswire.com/Tracker?data=rmYW7eWtP9g5YRwrWl1j6CZYyFuD4HJRlbVEDgeNgwHKvcWgDUPKxAkrbe1IlAPAmqGHFA1j1liGmSuOpaJcYnKYmSG48aK0F7wDt-iITAC-Zv9ipZS9HA0jHFh2X2-gZ_Uapt1AyVHevv7hBTYYRjHzUBYOckhVESyVY5_1yUfA0P0FHrxwjkgoLKJHkhfh0qO7Whv9VEmjdHsNp1k86mMDANkS3P1p68vJvKiZYAbQNpPxP6HlueUsnmMXZ2JS0K203Q4ZkgFOpJekuBpPomONJkFrJp1RxOLJpRUZQlGHiQUswLqG9dQrWJMYBurpWkxBsy4YIs-xJvqGSQUZleDBbIzmbnSJCwYLUVzZa6svrzgRNsncr2ezPROrcJLYYyzqmk6S0W7SOu2a42jPLMe8O1DOnvQiMCHGLlA29EPVRehm0RGBHPvw6FNR-mfpqXel3pqDOfXYE49Nlu55ubnmC8M0dGZDulZ_8qXSZUZwInV5-g1XLB7XVVOJS5bSUabDBIMsZ2LnwddI_gteQWjoiIqvnP3AJLk79c31m8YDkO0CTAiv5EvyqLuX9uSs" rel="nofollow" target="_blank">www.OceanPowerTechnologies.com.</a></p>  <p><strong>FORWARD-LOOKING STATEMENTS</strong></p>  <p>This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as &#34;may&#34;, &#34;will&#34;, &#34;aim&#34;, &#34;will likely result&#34;, &#34;believe&#34;, &#34;expect&#34;, &#34;will continue&#34;, &#34;anticipate&#34;, &#34;estimate&#34;, &#34;intend&#34;, &#34;plan&#34;, &#34;contemplate&#34;, &#34;seek to&#34;, &#34;future&#34;, &#34;objective&#34;, &#34;goal&#34;, &#34;project&#34;, &#34;should&#34;, &#34;will pursue&#34; and similar expressions or variations of such expressions. These forward-looking statements reflect the Company&#39;s current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the Company’s ability to have a successful strategic review process and to maintain its listing requirements under the NYSE American, the delivery of customer services, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company&#39;s most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.</p>  <p><strong>Contact Information</strong></p>  <p>Investors: 203-561-6945 or <a href="https://www.globenewswire.com/Tracker?data=R-LyT0AQL7tfC37oJToN8MBbBzus8syoOD8WkaCg8PMh2rDfHUJ8ZL_Fg__oYZI6eVJyJmIsotuIULIUpNIwLmw9TdR28z7ahR_OzvNOs4pZP-PgJYb__XDxNwfk3q6FVQo1Ulg0-jZ5QoGp3h9kTw==" rel="nofollow" target="_blank">investorrelations@oceanpowertech.com</a></p>  <p>Media: 609-730-0400 x402 or <a href="https://www.globenewswire.com/Tracker?data=x9xpDJqX5-nyfrH5654TvbPUyTfLSblXJ6Au3N-XVvtCWGnFQ-UePrGJjX3lhZVVVzfI_83UErNkHtZm-YCiFMk_ZHBl6M4nX1g9c-Y3r9-Ec_jrV7WP5byP9Yw79Rprz0PHr0cbspKPgSSLPuPYmA==" rel="nofollow" target="_blank">MediaRelations@oceanpowertech.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxMDk3MiM3Nzc4OTgxIzIwMDY5MTQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MGQ5MGYyNmEtODc2Zi00ZWNkLWFiYjQtODdlNzNhNzVlMDc1LTEwMTg0ODctMjAyNi0wOC0xNy1lbg==/tiny/Ocean-Power-Technologies-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/37cacdbe-8798-448b-acbc-529b6949576c"><img src="https://ml.globenewswire.com/media/37cacdbe-8798-448b-acbc-529b6949576c/small/opt-logo-300dpi-png.png" border="0" width="150" height="33" alt="Primary Logo"></img></a></p>

Ocean Power Technologies (OPTT) said its board has begun a strategic alternatives review to maximize stockholder value, with Bowen, Inc. engaged as advisor. The move could unlock growth opportunities, attract potential buyers or partners, and reshape OPT's financial position, though no timetable or guarantee of a transaction was provided. Operational continuity remains solid, reducing near-term execution risk while investors weigh potential outcomes.

News insight

Ocean Power Technologies Initiates Review of Strategic Alternatives

AI summary

Sentiment rationale

Key facts

Corporate Developments