Ocean Power Technologies | OPT and SubCtech Explore Joint…
April 2022

OPT and SubCtech Explore Joint Opportunities

Sub C Tech

OPT and marine technologies company SubCtech have agreed to collaborate on mutually beneficial solutions in North America and the European Union. The privately held German firm specializes in Li-Ion batteries for vehicles, subsea and offshore use, as well as surface and subsea environmental monitoring technologies, including its OceanPack™ product line.

“We are looking forward to working with a leader in the electrification of vehicles and offshore operations,” said Philipp Stratmann, OPT President and CEO. “OPT’s and SubCtech’s product and solutions have obvious synergies, and we are jointly exploring opportunities for combined deployments, as well as potential deepwater and WAM-V® optimization projects.”

“OPT as a global player in energy storage systems and innovative vehicles is an ideal partner for joint business development,” said Stefan Marx, SubCtech CEO and founder. “With our joint solutions, we offer products and services for new markets. Sustainable, safe and efficient energy solutions in the ocean will become increasingly important.”

This article may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions made by management regarding future circumstances over which the Company may have little or no control and involve risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. Additional information about these risks and uncertainties can be found in the Company's most recent Form 10-K and subsequent filings with the SEC. The Company disclaims any obligation or intent to update the forward-looking statements made in order to reflect events or circumstances after the date of this article.