Ocean Power Technologies receives $1.1M NJEDA NOL award; ships PowerBuoy to Middle East

Ocean Power Technologies, Inc.

Preliminary $1.1M award from NJEDA Technology Business Tax Certificate Transfer Program (NOL program).
Non-dilutive funding from selling net operating losses and R&D credits; similar to $1.2M in 2023.
Confirms shipment of AI-capable Merrows PowerBuoy to a Middle East customer.
Shipment expands Merrows offering in the region; customer confirmed previously announced unit.

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