secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Power Technologies, Inc. (OPTT)
CIK:        0001378140
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0001493152-24-036040
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Power completes WAM-V delivery, readies PowerBuoy for Middle East, wins $1M Navy contract
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- Completed WAM-V USV build for Latin America survey customer; triggers revenue recognition of over $0.3M.
- AI-capable Merrows PowerBuoy readied for shipment to Middle East customer; revenue recognition milestone achieved.
- Awarded $1M follow-on contract as subcontractor to EpiSci for Naval Information Warfare Center Pacific's Project Overmatch.
- First MAPG exercises concluded, enabling immediate revenue recognition on the Navy contract.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224036040/0001493152-24-036040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378140/000149315224036040/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-036040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer