Ocean Power Technologies Appoints Jason Weed as Senior VP for Sales

Ocean Power Technologies has appointed Jason Weed as Senior Vice President - Commercial Sales to bolster its defense and security market objectives. Weed has extensive experience in maritime operations and will join the company on June 13, 2025. The company has also amended its Employment Inducement Incentive Award Plan to attract top talent.

Ocean Power Technologies, Inc. (OPT), a leader in innovative, cost-effective, low-carbon, and artificial intelligence maritime services, has appointed Jason Weed as Senior Vice President - Commercial Sales. Weed, a retired U.S. Navy Captain with over 15 years of executive-level experience in maritime and technology-focused organizations, will join the company on June 13, 2025. His appointment underscores OPT's strategic focus on expanding its presence in the defense and security market.

Weed's distinguished career includes multiple command and senior operational leadership roles, such as Commodore of the Navy’s first Uncrewed Undersea Vehicle Squadron (UUVRON ONE) and Director of Maritime Operations for Commander Submarine Group TWO. His leadership has transformed operational capabilities, introduced cutting-edge AI/ML technologies, and advanced strategic planning across submarine and unmanned systems domains. Most recently, he served as Senior Business Developer and Capture Manager at Leidos’ Maritime Systems Division.

The appointment of Weed follows the departure of Matt Burdyny, the previous Senior Vice President, who chose to pursue a new opportunity outside the company. OPT has amended its Employment Inducement Incentive Award Plan to attract top talent, granting Weed a significant inducement award consisting of 500,000 restricted share units vesting equally over two years, and an additional 150,000 restricted stock units subject to performance-based vesting over the same period. This award aligns with OPT's commitment to incentivizing high-performance executives.

Philipp Stratmann, President and CEO of OPT, expressed enthusiasm about Weed's expertise and its anticipated contribution to the company's defense and security market expansion. "We are thrilled to welcome Jason Weed to the OPT senior management team," Stratmann said. "His exceptional defense leadership experience and deep understanding of advanced maritime operations will be invaluable as we expand our presence in the defense and security market."

OPT provides intelligent maritime solutions, including AI integration, clean power platforms, and autonomous surface vessels for various markets. The company's headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California.

References:
[1] https://www.nasdaq.com/articles/ocean-power-technologies-hires-jason-weed-senior-vice-president-commercial-sales