Ocean Power Technologies, Inc. (OPTT, OPT.L) said it signed commercial engineering services agreement with Lockheed Martin Corp. (LMT) to develop Ocean Power Technologies' wave energy systems for use in future utility-scale power generation projects.
As per the agreement, Lockheed Martin will provide its expertise in systems integration, lean manufacturing, and test and optimization analysis to enhance Ocean Power Technologies' PowerBuoy wave power generation technology to utility-scale. This move will allow the two companies to pursue future utility-scale power generation projects in North America.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.