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

Ocean Power Technologies, Inc. (NYSE American: OPTT), a pioneer in low-carbon and AI-driven maritime services, has announced the appointment of Jason Weed as Senior Vice President – Commercial Sales. This strategic hire underscores the company's commitment to expanding its footprint in the defense and security sector, leveraging Weed's profound expertise in maritime operations and technology innovation.

Jason Weed brings to OPT a wealth of experience, including a 34-year tenure in the U.S. Navy where he held pivotal command roles and spearheaded the integration of AI and machine learning technologies in maritime operations. His recent role as Senior Business Developer and Capture Manager at Leidos’ Maritime Systems Division further solidifies his reputation as a leader capable of driving growth and innovation in technology-focused maritime organizations.

Philipp Stratmann, President and CEO of OPT, highlighted the significance of Weed's appointment, noting his exceptional defense leadership and deep understanding of advanced maritime operations as key assets for the company's strategic objectives. Weed's vision is expected to accelerate OPT's initiatives in the defense and security market, a critical area for the company's growth.

The appointment comes as OPT continues to innovate in the maritime sector, offering solutions like the PowerBuoy® platforms and WAM-V® autonomous surface vessels, which are pivotal for safer, cleaner, and more productive ocean operations. Weed's leadership is anticipated to enhance OPT's capabilities in delivering intelligent maritime solutions, further establishing the company as a leader in the industry.

As part of his hiring, OPT granted Weed an inducement award under the company's Employment Inducement Incentive Award Plan, reflecting the value and expectations tied to his role. This move not only signifies OPT's investment in top-tier talent but also its dedication to advancing maritime technology and services on a global scale.