Porter Hedges Represents Ocean Power Technologies in the Acquisition of Marine Advanced Robotics

Porter Hedges represented Ocean Power Technologies, Inc. (OPT) (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, in the acquisition of Marine Advanced Robotics, Inc., a Richmond (San Francisco Bay Area), California-based developer and manufacturer of autonomous surface vehicles. This acquisition immediately provides OPT with an established, innovative offshore product line that features roaming capability and highly complements the OPT business strategy.

Based in Monroe Township, New Jersey, OPT is a provider of ocean energy and intelligent data services. OPT provides these services through its innovative low-carbon distributed and autonomous ocean power and data solutions, combined with its offshore engineering and design services.