Ocean Power Technologies, Inc. (NYSE American: OPTT) announced the deployment and commissioning of a PowerBuoy® system off the coast of New Jersey for Rutgers, The State University of New Jersey, and a purchase order from Stevens Institute of Technology for a WAM-V® unmanned surface vehicle.

The Rutgers project, supported by the New Jersey Economic Development Authority, is fully installed and operational. The PowerBuoy® replaces a legacy ocean monitoring system that relied on fixed seabed cables, providing continuous offshore power and communications without permanent infrastructure. The system will support ocean research, environmental monitoring, and integration of surface and subsea sensors.

The Stevens Institute of Technology order is for one maritime drone currently in production. The company said the order reflects demand within the academic research market, which it described as characterized by multi-phase programs, recurring funding cycles, and follow-on deployment opportunities.

Chief Executive Officer Philipp Stratmann said, "The Rutgers deployment reflects our continued focus on converting awarded projects into operational systems and revenue. At the same time, the new order from Stevens demonstrates the repeatability of our offerings within the advanced autonomy and sensor community."

According to the company, the PowerBuoy can be deployed more quickly than traditional subsea cable systems, relocated as needed, and upgraded over time, supporting system expansion, sensor integration, and long-term service.