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 move underscores the company's commitment to bolstering its position in the defense and security sectors, leveraging Weed's extensive experience in maritime and technology-focused organizations.

Jason Weed brings over 15 years of executive-level experience, including a distinguished 34-year career in the U.S. Navy, where he held pivotal roles such as Commodore of the Navy’s first Uncrewed Undersea Vehicle Squadron and Commanding Officer of the USS New Hampshire. His expertise in operational leadership and strategic planning, particularly in integrating AI and ML technologies into maritime operations, is expected to drive innovation and growth at Ocean Power Technologies.

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 expansion in the defense and security market. Weed's vision and insights are anticipated to accelerate the company's strategic objectives in this critical sector.

The appointment follows the departure of Matt Burdyny, whom the company wishes success in his future endeavors. As part of the hiring agreement, Weed was granted an inducement award under the Ocean Power Technologies, Inc. Employment Inducement Incentive Award Plan, reflecting the company's confidence in his ability to contribute to its growth and success.

This leadership change is significant for human resources professionals and the HR industry, as it exemplifies the strategic importance of aligning executive talent with company goals, especially in sectors requiring specialized knowledge and experience. For business leadership, Weed's appointment signals Ocean Power Technologies' aggressive push into the defense and security market, potentially reshaping competitive dynamics in the maritime services industry.