Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and sustainable ocean energy solutions, today announced that it remains fully operational and strategically positioned to navigate ongoing global supply chain challenges, thanks to its majority domestic supply chain and resilient workforce.

In light of recent global developments impacting international logistics and raw material availability, OPT confirms that its current inventory levels and procurement practices remain unaffected. The Company does not anticipate any material impact on inventory costs and continues to fulfill customer commitments on schedule.