Why Are Investors Paying Attention To Ocean Power?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) are rising Tuesday after the marine company announced the award of a multi-buoy contract greater than $5 million with the U.S. Department of Homeland Security.

Ocean Power Techs stock is surging to new heights today. What’s fueling OPTT momentum?

What Is The Contract For?

This demonstration will enable persistent and resident maritime domain awareness off the coast of San Diego, California. The contract is for several Merrows-equipped PowerBuoy systems in support of a U.S. Coast Guard mission.

“We are honored to support DHS and the U.S. Coast Guard in strengthening national security at sea, and we look forward to expanding the use of renewable-powered maritime infrastructure across the country's most critical waterways,” said Ocean Power CEO Philipp Stratmann.

The four provided platforms will integrate into the Department of Homeland Security's chosen environment and will be deployed alongside several Anduril surveillance towers, forming an integrated sensing architecture. All data streams will feed into Anduril's Lattice Command-and-Control system, providing mission operators with unified situational awareness, enhanced detection capability, and real-time decision support.

Ocean Power Stock Is On The Up

OPTT Price Action: Shares were up 17.4% at 39 cents at the time of publication on, according to Benzinga Pro.

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