Ocean Power Technologies Inc. (OPTT) Shares Surge 11.81% on Strategic Partnerships

Ocean Power Technologies Inc. (OPTT) shares surged 11.81% in pre-market trading on April 11, 2025, driven by strategic partnerships and expanding market reach.

Ocean Power Technologies has recently signed a strategic reseller agreement with Elektron SAS, a Colombia-based specialist in hydrographic and maritime technology. This partnership aims to expand the availability and support of OPT's Unmanned Surface Vehicles (USVs) and Wave Adaptive Modular Vessels (WAM-V) in Latin America, securing a $4 million deal for maritime technology.

Additionally, OPTT has entered into a reseller agreement with Grava Hydrographic Solutions LLC, further broadening the commercial reach of its intelligent maritime solutions. This agreement is part of OPT's broader strategy to scale its operations and enhance its market presence.

These strategic moves are expected to bolster Ocean Power Technologies' position in the maritime technology sector, driving growth and innovation in the industry.