Ocean Power Technologies designs and deploys autonomous systems for persistent offshore monitoring and surveillance. The company's core products include the PowerBuoy, a renewable energy-powered buoy that harvests wave, solar, and wind energy to power sensors and communications, and the WAM-V, a modular unmanned surface vehicle for autonomous survey and inspection missions. The Merrows software platform integrates these hardware platforms by fusing data from radar, cameras, and acoustics into a unified maritime domain awareness system. Ocean Power Technologies serves the U.S. Coast Guard, the Department of Homeland Security, the Department of Defense, allied foreign militaries, and commercial customers in offshore energy and marine research. The business model combines direct equipment sales with service-based subscriptions, including Power as a Service, Robotics as a Service, and Data as a Service. In these service models, Ocean Power Technologies typically retains ownership of the hardware and recognizes revenue over the deployment period. The company's strategy involves expanding its fleet of buoys and vehicles, pursuing international defense contracts in regions like the Middle East and Europe, and expanding into subsea technology. Ocean Power Technologies also invests in autonomous docking and artificial intelligence to extend mission duration without human intervention.