Ocean Power Technologies has acquired a subsea wave-power intellectual property portfolio from Columbia Wave Power, a move that extends the company's capabilities from surface maritime systems down to the seabed.
What the deal adds
The acquisition gives the company technology for generating power beneath the surface, allowing it to supply energy directly to equipment on the seabed. Ocean Power Technologies, which trades on the NYSE American as OPTT, had previously concentrated on above-water maritime applications such as buoys that support environmental monitoring and communications.
"We acquired the subsea wave power generating IP portfolio from Columbia Wave Power," said Philipp Stratmann, CEO of Ocean Power Technologies.
According to the company, its existing buoy systems already support subsea applications. Examples cited include underwater cable connections in Monterey Bay and subsea junction boxes in Chile that collect environmental data. The new IP is intended to power underwater sensors, robotics and other subsea equipment, complementing the firm’s surface products.
Why surface-to-seabed matters
Ocean Power Technologies describes the capability as completing an "operational infrastructure layer" between seabed and surface. While robotics, autonomous vessels and sensors receive much of the attention in maritime technology, those systems require continuous power and monitoring. By offering both surface and seabed power solutions, the company aims to provide a more integrated package for customers needing persistent, non-grid-connected energy at sea.
- Expanded product scope: from surface buoys to subsea wave-power systems.
- Operational use cases: powering sensors, subsea junctions and robotics.
- Existing deployments: cited examples include Monterey Bay (US) and installations in Chile.
Financial backdrop
The acquisition comes after what the company characterised as a transformational financial year. Ocean Power Technologies reported its largest deployment and a recurring-revenue contract with the US Coast Guard worth around $6.5 million in fiscal year 2026. The combination of a significant public-sector contract and expanded IP holdings positions the firm to compete for projects that require both energy generation and continuous maritime awareness.
| Item | Detail |
|---|---|
| Acquired IP | Subsea wave power generation portfolio from Columbia Wave Power |
| Key customers / deployments | Underwater cable in Monterey Bay; subsea junction boxes in Chile; US Coast Guard contract (~$6.5m) |
The company’s stated focus on non-grid-connected maritime power remains central: the newly acquired subsea technology is explicitly intended for off-grid scenarios where traditional power infrastructure is unavailable. That niche covers environmental monitoring networks, persistent maritime surveillance systems and remote robotic operations on or near the seabed.
The transaction expands an already specialised offering and reshapes Ocean Power Technologies’ product narrative from single-domain (surface) solutions to a multi-domain systems supplier able to deliver an end-to-end power and infrastructure stack for maritime customers.
