When was Ocean Power Technologies founded?

Ocean Power Technologies was founded in 1984 and raised its 1st funding round 24 years after it was founded.

Where is Ocean Power Technologies located?

Ocean Power Technologies is headquartered in Monroe Township, United States.

How many employees does Ocean Power Technologies have?

As of Apr 30, 2026, the latest employee count at Ocean Power Technologies is 91.

Is Ocean Power Technologies a funded company?

Ocean Power Technologies is a funded company, having raised an undisclosed amount across 18 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on Sep 03, 2008.

When was the latest funding round of Ocean Power Technologies?

Ocean Power Technologies' latest funding was a $***** Post IPO round on Feb 14, 2024, with participation from 1 investor.

What is the annual revenue of Ocean Power Technologies?

Annual revenue of Ocean Power Technologies is $5.86M as on Apr 30, 2025.

Where does Ocean Power Technologies rank among its competitors?

Ocean Power Technologies ranks 1st amongst 188 active competitors, of which 22 are funded. It stands 5th in terms of total funding among its competitors. The most recent competitor to raise funding was CorPower Ocean, which secured an undisclosed amount in Jul, 2025.

Who are the top competitors of Ocean Power Technologies?

Ocean Power Technologies' top competitors include Carnegie Clean Energy, CorPower Ocean and Schottel Hydro. Among them, CorPower Ocean secured the most recent funding round in July, 2025.

Ocean Power Technologies - 2026 Company Profile, Team, Funding, Competitors & Financials

Ocean Power Technologies is a public company based in Monroe Township (United States), founded in 1984 by George W Taylor and Joseph R Burns. It operates as an Ocean energy technology provider offering intelligent maritime solutions. Ocean Power Technologies has raised an undisclosed amount in funding. The company has 188 active competitors, including 22 funded and 13 that have exited. Its top competitors include companies like Carnegie Clean Energy, CorPower Ocean and Schottel Hydro.

Company Details

Ocean energy technology provider offering intelligent maritime solutions and services. The company leverages power generation and data capabilities to deliver actionable insights, promoting safer and more productive ocean operations across various sectors. These sectors include defense and security, offshore wind and oil and gas, science and research. The platform develops and deploys technologies such as wave-powered mini data centers to extend cloud computing to remote waters. The company's focus is on providing smarter, faster insights for improved maritime operations.

Website: oceanpowertechnologies.com
Social
Email ID: *****@oceanpowertech.com
Phone Number: +1 **********

Key Metrics

Founded Year

1984

Location

Monroe Township, United States

Stage

Public

Latest Funding Round

Post IPO, Feb 14, 2024, $*****

Investors

Aspire Capital & 6 more

Ranked

1^st among 188 active competitors

Annual Revenue

$5.86M as on Apr 30, 2025

Employee Count

91 as on Apr 30, 2026

Investment & Acquisitions

Marine Advanced Robotics & 1 more

Similar Companies

Carnegie Clean Energy & 180 more

Exit Details

Public

View Ocean Power Technologies' full profile

Ocean Power Technologies is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Ocean Power Technologies, Inc. CIN: 32066120216 , United States, Active	Jan 29, 2018	-	-	-
OCEAN POWER TECHNOLOGIES, INC. CIN: 1378140 , United States, Active	Mar 26, 2007	$5.86M (As on Apr 30, 2025)	72 (As on Apr 30, 2023)	-

Ocean Power Technologies got listed on Apr 25, 2007.

Click here to take a look at Ocean Power Technologies's IPO in detail

Ocean Power Technologies has raised funding over 18 rounds. Its first funding round was on Sep 03, 2008. Its latest funding round was a Post IPO round on Feb 14, 2024 for $*****. 1 investor participated in its latest round. Ocean Power Technologies has 7 institutional investors.

Here is the list of recent funding rounds of Ocean Power Technologies:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Feb 14, 2024	5217065	Post IPO	7892493	6077038	6176069	2716183
Jun 28, 2021	4331022	Grant (prize money)	4133772	3233540	3548482	OSTI
May 13, 2021	4631693	Grant (prize money)	1333097	9070367	7673328	9934170

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View details of Ocean Power Technologies's funding rounds and investors

The founders of Ocean Power Technologies are George W Taylor and Joseph R Burns.

Here are the details of Ocean Power Technologies' key team members:

George W Taylor: Co-Founder of Ocean Power Technologies.
Contact Info: 1 email address
Joseph R Burns: Former Co-Founder of Ocean Power Technologies.

View details of Ocean Power Technologies's Founder profiles and Board Members

Ocean Power Technologies' employee count trend

Ocean Power Technologies has 91 employees as of Apr 26. Here is Ocean Power Technologies's employee count trend over the years:

Employee count trend for Ocean Power Technologies

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Top competitors of Ocean Power Technologies include Carnegie Clean Energy, CorPower Ocean and Schottel Hydro. Here is the list of Top 10 competitors of Ocean Power Technologies, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Ocean Power Technologies 1984, Monroe Township (United States), Public	Ocean energy technology provider offering intelligent maritime solutions	-	Aspire Capital, Australian Renewable Energy Agency ... & 5 others	61/100
2nd	Carnegie Clean Energy 1987, Fremantle (Australia), Public	Provider of CETO wave energy converter and solar PV systems	-	Government of Western Australia, Australian Renewable Energy Agency ... & 9 others	62/100
3rd	CorPower Ocean 2009, Stockholm (Sweden), Series B	Wave energy converter solutions provider	$91.4M	Midroc, Swedish Energy Agency & 15 others	61/100
4th	Schottel Hydro 1921, Morsbach (Germany), Funding Raised	Provider of hydrokinetic turbines and semi-submerged platforms	-	Canadian Space Agency, Schottel Hydro & 11 others	55/100
5th	Ocean Harvesting Technologies 2007, Karlskrona (Sweden), Seed	Developer of wave energy converter technology for electricity generation	$355K	Lundin Foundation, Swedish Energy Agency & 2 others	54/100
6th	Raymarine 1974, Hampshire (United States), Acquired	Range of marine electronic equipment.	-	Hg	54/100
7th	SINN Power 2014, Gauting (Germany), Series B	Provider of photovoltaic technology for energy generation on land and water	$9.36M	SCHWEIZER KAPITAL GROUP, Europa & 8 others	52/100
8th	Navico 2006, Egersund (Norway), Acquired	Manufacturer of marine electronics and navigation systems	-	Altor Equity Partners	49/100
9th	FURUNO 1951, Nishinomiya (Japan), Unfunded	Manufacturer of diversified electronic systems for the marine industry	-	-	47/100
10th	Wavepiston 2006, Gribskov (Denmark), Seed	Power generation solutions using wind energy	$7.46M	Arbejdernes Landsbank, Seedrs & 4 others	47/100

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Ocean Power Technologies has acquired 2 companies including Marine Advanced Robotics and 3DENT. Ocean Power Technologies has not made any investments as of now.

Here is the latest report on Ocean Power Technologies's sector:

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Renewable Energy Tech - Sector Report

Edition: October, 2025 (86 Pages)

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Media has covered Ocean Power Technologies for a total of 31 events in the last 1 year, 19 of them have been about company updates and 5 about partnerships.