Ocean Power Technologies, Inc.

Maritime tech company making ocean power buoys and autonomous surface drones

What Ocean Power does

Ocean Power Technologies builds and operates technology that monitors and works at sea. Its PowerBuoy floats offshore to supply power and carry sensors, its WAM-V is an unmanned boat that can operate on its own, and its Merrows software lets operators command and control these systems. Customers include defense agencies, offshore energy operators, and marine researchers.

How Ocean Power makes money

The company earns revenue from direct sales and leases of its buoys and vehicles, and from long-term service agreements. It also sells subscription-style offerings (Data as a Service, Robotics as a Service, and Power as a Service), sometimes through strategic partners.

Products & services

• PowerBuoy
• WAM-V autonomous surface vehicle
• Merrows command and control system
• Data as a Service (DaaS)
• Robotics as a Service (RaaS)
• Power as a Service (PaaS)