Ocean Power Technologies Strengthens Leadership with Appointment of Jason Weed as SVP of Commercial Sales

Ocean Power Technologies, Inc. (OPTT), a leader in low-carbon and artificial intelligence-driven maritime services, has taken a significant step forward in its strategic expansion into the defense and security sectors with the appointment of Jason Weed as Senior Vice President – Commercial Sales. Weed's impressive 34-year career in the U.S. Navy, including leadership roles in uncrewed undersea vehicle operations and command of the USS New Hampshire, brings unparalleled expertise in maritime operations and the integration of AI and machine learning technologies. This appointment is poised to accelerate OPT's objectives in these critical markets.

Philipp Stratmann, President and CEO of OPT, emphasized the value of Weed's defense leadership and operational knowledge in driving the company's growth. Weed's background is particularly relevant as OPT seeks to leverage its innovative maritime solutions, such as the PowerBuoy® platforms and WAM-V® autonomous surface vessels, to enhance ocean operations' safety and productivity across industries. His induction into the company is supported by a substantial inducement award, including restricted and performance-based stock units, aligning his success with OPT's long-term goals.

The implications of this leadership addition are significant for the maritime technology and defense industries. Weed's expertise in AI and machine learning applications in maritime operations could herald new advancements in autonomous and uncrewed systems, offering safer and more efficient solutions for defense and commercial applications. For industry leaders and stakeholders, this move underscores the growing importance of integrating advanced technologies into maritime operations, setting a precedent for innovation and strategic growth in the sector.