{"success":true,"data":{"pressRelease":{"id":"179441","rtpr_id":"nGNX5FjlRz-20261026","ticker":"OPTT","exchange":"NYSE American","all_tickers":["OPTT","SRTM"],"title":"Ocean Power Technologies and Stratum Holdings Sign Letter of Intent for Proposed Strategic Collaboration to Demonstrate Offshore Renewable-Powered Data Center Assets","author":"Globe Newswire","published_at":"2026-10-26T11:30:00.343Z","article_body":"MONROE TOWNSHIP, N.J. and CELEBRATION, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) --\nOcean Power Technologies, Inc. (NYSE American: OPTT) (“OPT”) and Stratum\nHoldings Corp. (NASDAQ: SRTM) (“Stratum”) today announced that they have\nentered into a non-binding letter of intent (the “LOI”) for a proposed\nstrategic collaboration to demonstrate offshore data center assets powered by\nrenewable wave, wind, and solar energy.\n\nThe LOI contemplates that OPT and Stratum negotiate definitive agreements\npursuant to which OPT would grant Stratum a limited, non-exclusive license to\ncertain of its PowerBuoy® patents for use in the demonstration program and\nmake available certain prototype PowerBuoy® assets currently on hand, and\nStratum would make available certain GPU assets, including its latest\ngeneration NVIDIA B300 GPUs, and related integration expertise. Stratum would\nalso pay OPT a monthly retainer under the terms of the definitive agreements.\nThe proposed strategic collaboration would focus on integrating OPT’s\nPowerBuoy® platforms with Stratum’s high-performance compute hardware to\nvalidate the technical feasibility of hosting edge AI inference and related\nworkloads on systems powered primarily by onboard renewable generation,\nwithout a power umbilical to shore.\n\nOPT holds more than 60 issued patents worldwide relating to its PowerBuoy®\ntechnology, including more than 15 in the U.S., covering buoy architecture,\nenergy conversion, power take-off, control systems, mooring and anchoring,\nautonomous charging interfaces, communications, and related systems. These\npatents form the foundation of the PowerBuoy® platform, which is designed to\ndeliver persistent, renewable power and real-time communications in remote\nmarine environments.\n\nCooling accounts for a significant portion of power consumption in\nconventional data centers. OPT and Stratum believe that positioning\nPowerBuoy®-based systems in cooler regions of the ocean could reduce this\ncooling-related power demand, although this has not yet been demonstrated and\nwill be among the matters tested in the proposed demonstration program.\n\n“This proposed strategic collaboration aligns with OPT’s mission to\ndeliver persistent renewable power and technology integration for critical\noffshore applications,” said Tracy Pagliara, Acting President and Chief\nExecutive Officer of Ocean Power Technologies. “By combining our patented\nPowerBuoy® technology with Stratum’s GPU assets, we aim to demonstrate a\npractical path toward self-powered edge AI infrastructure that operates\nindependently of shore-based power.”\n\n“Stratum is focused on expanding high-performance compute capacity in new\nenvironments,” said Nicholas H. Adler, Chief Executive Officer of Stratum\nHoldings. “Partnering with OPT allows us to explore the potential of\nrenewable-powered offshore platforms combined with our GPU assets for edge AI\ninference, where local processing can reduce bandwidth requirements and\nleverage the natural cooling advantages of the marine environment.”\n\nThe proposed strategic collaboration’s initial efforts are expected to\ncenter on system integration, performance validation, and data collection from\ndemonstration deployments. Results from the program, if any, may inform\npotential future commercial applications in maritime domain awareness,\noffshore energy monitoring, scientific sensing, and other remote edge-compute\nuse cases.\n\nAbout Ocean Power Technologies\n\nOcean Power Technologies, Inc. (NYSE American: OPTT) provides intelligent\nmaritime systems and services for defense and security, offshore energy,\nscience and research, and offshore wind. Its PowerBuoy® platforms deliver\nclean, renewable power and real-time data communications for remote maritime\nand subsea applications. The company also offers the WAM-V® autonomous\nsurface vehicle and Merrows™ software for multi-domain awareness. For more\ninformation, visit www.oceanpowertechnologies.com.\n\nAbout Stratum Holdings\n\nStratum Holdings Corp. (NASDAQ: SRTM) is an AI infrastructure company focused\non GPU leasing and high-performance compute capacity. The company is\ntransitioning from legacy real estate operations to provide scalable compute\nsolutions supporting artificial intelligence workloads. For more information,\nvisit www.stratumholdingscorp.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. These statements involve\nrisks and uncertainties that could cause actual results to differ materially\nfrom those anticipated, including the risk that the parties do not negotiate\nor execute definitive agreements on the terms described or at all; the\nnon-binding nature of the LOI and the ability of either party to terminate\ndiscussions; the failure to obtain required board, regulatory, or stockholder\napprovals; the potential dilution to Stratum stockholders from any issuance of\nshares as payment of the retainer; the value and liquidity of potential\nStratum common stock received by OPT, including restrictions on resale pending\nregistration; the parties’ ability to fund and complete the demonstration\nprogram on the anticipated timeline or at all; risks related to the successful\nintegration of technologies, technical performance of demonstration systems,\nregulatory approvals, and market adoption; and other factors described in the\ncompanies’ filings with the Securities and Exchange Commission, including\ntheir most recent Annual Reports on Form 10-K and Quarterly Reports on Form\n10-Q. Neither company undertakes any obligation to update these\nforward-looking statements, except as required by law.\n\nMedia Contacts\n\nOcean Power Technologies\nInvestors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com\nMedia: 609-730-0400 x402 or MediaRelations@oceanpowertech.com\n\nStratum Holdings\n\nCrescendo Communications, LLC\nsrtm@crescendo-ir.com | (212) 671-1020\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/37cacdbe-8798-448b-acbc-529b6949576c)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5FjlRz-20261026","title":"Ocean Power Technologies and Stratum Holdings Sign Letter of Intent for Proposed Strategic Collaboration to Demonstrate Offshore Renewable-Powered Data Center Assets","author":"Globe Newswire","ticker":"OPTT","created":"2026-10-26T11:30:00.343Z","tickers":["OPTT","SRTM"],"exchange":"NYSE American","article_body":"MONROE TOWNSHIP, N.J. and CELEBRATION, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) --\nOcean Power Technologies, Inc. (NYSE American: OPTT) (“OPT”) and Stratum\nHoldings Corp. (NASDAQ: SRTM) (“Stratum”) today announced that they have\nentered into a non-binding letter of intent (the “LOI”) for a proposed\nstrategic collaboration to demonstrate offshore data center assets powered by\nrenewable wave, wind, and solar energy.\n\nThe LOI contemplates that OPT and Stratum negotiate definitive agreements\npursuant to which OPT would grant Stratum a limited, non-exclusive license to\ncertain of its PowerBuoy® patents for use in the demonstration program and\nmake available certain prototype PowerBuoy® assets currently on hand, and\nStratum would make available certain GPU assets, including its latest\ngeneration NVIDIA B300 GPUs, and related integration expertise. Stratum would\nalso pay OPT a monthly retainer under the terms of the definitive agreements.\nThe proposed strategic collaboration would focus on integrating OPT’s\nPowerBuoy® platforms with Stratum’s high-performance compute hardware to\nvalidate the technical feasibility of hosting edge AI inference and related\nworkloads on systems powered primarily by onboard renewable generation,\nwithout a power umbilical to shore.\n\nOPT holds more than 60 issued patents worldwide relating to its PowerBuoy®\ntechnology, including more than 15 in the U.S., covering buoy architecture,\nenergy conversion, power take-off, control systems, mooring and anchoring,\nautonomous charging interfaces, communications, and related systems. These\npatents form the foundation of the PowerBuoy® platform, which is designed to\ndeliver persistent, renewable power and real-time communications in remote\nmarine environments.\n\nCooling accounts for a significant portion of power consumption in\nconventional data centers. OPT and Stratum believe that positioning\nPowerBuoy®-based systems in cooler regions of the ocean could reduce this\ncooling-related power demand, although this has not yet been demonstrated and\nwill be among the matters tested in the proposed demonstration program.\n\n“This proposed strategic collaboration aligns with OPT’s mission to\ndeliver persistent renewable power and technology integration for critical\noffshore applications,” said Tracy Pagliara, Acting President and Chief\nExecutive Officer of Ocean Power Technologies. “By combining our patented\nPowerBuoy® technology with Stratum’s GPU assets, we aim to demonstrate a\npractical path toward self-powered edge AI infrastructure that operates\nindependently of shore-based power.”\n\n“Stratum is focused on expanding high-performance compute capacity in new\nenvironments,” said Nicholas H. Adler, Chief Executive Officer of Stratum\nHoldings. “Partnering with OPT allows us to explore the potential of\nrenewable-powered offshore platforms combined with our GPU assets for edge AI\ninference, where local processing can reduce bandwidth requirements and\nleverage the natural cooling advantages of the marine environment.”\n\nThe proposed strategic collaboration’s initial efforts are expected to\ncenter on system integration, performance validation, and data collection from\ndemonstration deployments. Results from the program, if any, may inform\npotential future commercial applications in maritime domain awareness,\noffshore energy monitoring, scientific sensing, and other remote edge-compute\nuse cases.\n\nAbout Ocean Power Technologies\n\nOcean Power Technologies, Inc. (NYSE American: OPTT) provides intelligent\nmaritime systems and services for defense and security, offshore energy,\nscience and research, and offshore wind. Its PowerBuoy® platforms deliver\nclean, renewable power and real-time data communications for remote maritime\nand subsea applications. The company also offers the WAM-V® autonomous\nsurface vehicle and Merrows™ software for multi-domain awareness. For more\ninformation, visit www.oceanpowertechnologies.com.\n\nAbout Stratum Holdings\n\nStratum Holdings Corp. (NASDAQ: SRTM) is an AI infrastructure company focused\non GPU leasing and high-performance compute capacity. The company is\ntransitioning from legacy real estate operations to provide scalable compute\nsolutions supporting artificial intelligence workloads. For more information,\nvisit www.stratumholdingscorp.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. These statements involve\nrisks and uncertainties that could cause actual results to differ materially\nfrom those anticipated, including the risk that the parties do not negotiate\nor execute definitive agreements on the terms described or at all; the\nnon-binding nature of the LOI and the ability of either party to terminate\ndiscussions; the failure to obtain required board, regulatory, or stockholder\napprovals; the potential dilution to Stratum stockholders from any issuance of\nshares as payment of the retainer; the value and liquidity of potential\nStratum common stock received by OPT, including restrictions on resale pending\nregistration; the parties’ ability to fund and complete the demonstration\nprogram on the anticipated timeline or at all; risks related to the successful\nintegration of technologies, technical performance of demonstration systems,\nregulatory approvals, and market adoption; and other factors described in the\ncompanies’ filings with the Securities and Exchange Commission, including\ntheir most recent Annual Reports on Form 10-K and Quarterly Reports on Form\n10-Q. Neither company undertakes any obligation to update these\nforward-looking statements, except as required by law.\n\nMedia Contacts\n\nOcean Power Technologies\nInvestors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com\nMedia: 609-730-0400 x402 or MediaRelations@oceanpowertech.com\n\nStratum Holdings\n\nCrescendo Communications, LLC\nsrtm@crescendo-ir.com | (212) 671-1020\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/37cacdbe-8798-448b-acbc-529b6949576c)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-26T11:30:00.525202459Z","server_sent_at_ms":1793014200525},"received_at":"2026-10-26T11:30:00.591Z","source_url":null},"analysis":{"id":"167332","press_release_id":"179441","analysis_json":{"industry":{"label":"Electrical Equipment & Instruments","sector":"Industrials"},"redFlags":["LOI is non-binding; either party may terminate discussions before definitive agreements","No dollar figures disclosed; retainer terms deferred to definitive agreements","Potential retainer paid in Stratum common stock creates dilution risk and resale-restricted, illiquid stock exposure for OPT","Cooling-power reduction claim 'has not yet been demonstrated'"],"eventType":"partnership","narrative":"Ocean Power Technologies and Stratum Holdings signed a non-binding letter of intent for a strategic collaboration to demonstrate offshore data center assets powered by renewable wave, wind, and solar energy.\n\nUnder the proposed deal, OPT would license PowerBuoy patents and supply prototype assets while Stratum would contribute NVIDIA B300 GPUs and integration expertise, with Stratum paying OPT a monthly retainer under future definitive agreements.\n\nThe program is demonstration-stage only and the LOI is non-binding, so commercial impact is speculative; a potential retainer paid in Stratum stock raises dilution and liquidity considerations for OPT.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"OPTT rides the AI-data-center theme with a renewable-powered offshore edge-compute LOI -- early-stage and non-binding, but a narrative catalyst for a micro-cap."},"keyFigures":{"customDimensions":{"gpu_platform":"NVIDIA B300","opt_us_patents":"more than 15","opt_patents_worldwide":"more than 60"}},"quotedText":"By combining our patented PowerBuoy® technology with Stratum’s GPU assets, we aim to demonstrate a practical path toward self-powered edge AI infrastructure that operates independently of shore-based power.","namedEntities":{"people":[{"name":"Tracy Pagliara","role":"Acting President and CEO of Ocean Power Technologies"},{"name":"Nicholas H. Adler","role":"CEO of Stratum Holdings"}],"products":["PowerBuoy","WAM-V","Merrows","NVIDIA B300 GPUs"],"companies":[{"name":"Ocean Power Technologies, Inc.","ticker":"OPTT","relationship":"filer / party to LOI"},{"name":"Stratum Holdings Corp.","ticker":"SRTM","relationship":"partner"},{"name":"NVIDIA","relationship":"GPU supplier (B300 GPUs named)"},{"name":"Crescendo Communications, LLC","relationship":"investor relations for Stratum"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"A non-binding LOI for a demonstration-stage collaboration with a small-cap counterparty; no definitive agreement, no dollar figures, and significant execution risk. Positive optionality on AI-edge data center use of PowerBuoy but early-stage."},"tickerRelevance":{"others":[{"ticker":"SRTM","relevance":"partner"},{"ticker":"NVDA","relevance":"mentioned (GPU platform)"}],"primary":"OPTT"},"globalImportance":22,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"non-binding LOI, demonstration program only","narrativeBoost":"AI infrastructure theme raises retail attention","dealValueDisclosed":false}},"event_type":"partnership","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Ocean Power Technologies and Stratum Holdings signed a non-binding letter of intent for a strategic collaboration to demonstrate offshore data center assets powered by renewable wave, wind, and solar energy.\n\nUnder the proposed deal, OPT would license PowerBuoy patents and supply prototype assets while Stratum would contribute NVIDIA B300 GPUs and integration expertise, with Stratum paying OPT a monthly retainer under future definitive agreements.\n\nThe program is demonstration-stage only and the LOI is non-binding, so commercial impact is speculative; a potential retainer paid in Stratum stock raises dilution and liquidity considerations for OPT.","key_figures":{"customDimensions":{"gpu_platform":"NVIDIA B300","opt_us_patents":"more than 15","opt_patents_worldwide":"more than 60"}},"named_entities":{"people":[{"name":"Tracy Pagliara","role":"Acting President and CEO of Ocean Power Technologies"},{"name":"Nicholas H. Adler","role":"CEO of Stratum Holdings"}],"products":["PowerBuoy","WAM-V","Merrows","NVIDIA B300 GPUs"],"companies":[{"name":"Ocean Power Technologies, Inc.","ticker":"OPTT","relationship":"filer / party to LOI"},{"name":"Stratum Holdings Corp.","ticker":"SRTM","relationship":"partner"},{"name":"NVIDIA","relationship":"GPU supplier (B300 GPUs named)"},{"name":"Crescendo Communications, LLC","relationship":"investor relations for Stratum"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-26T11:30:08.487Z","global_importance":22,"audience_relevance":30,"importance_components":{"tickerTier":"micro-cap","eventGravity":"non-binding LOI, demonstration program only","narrativeBoost":"AI infrastructure theme raises retail attention","dealValueDisclosed":false}},"durationMs":6827,"modelName":"glm-5.3-flashx"}}