Ocean Power Technologies Inc (AMEX:OPTT) shares are trading higher after the close on Thursday after the company announced it signed an agreement with Teldyne Marine.
What Happened: After the market close on Thursday, Ocean Power Technologies said it signed an Original Equipment Manufacturer agreement with Teledyne Marine, a division of Teledyne Technologies Inc (NYSE:TDY) to enhance Ocean Power’s product offerings and drive innovation within the industry.
“This agreement allows us to leverage Teledyne’s best-in-class offerings to deliver superior sensor and ocean technology products to our customers. Our shared commitment to excellence and innovation makes this a natural ...