News Release Details

PENNINGTON, N.J., March 6, 2015 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (Nasdaq:OPTT) (OPT), today announced that it will release its fiscal third quarter financial results before the market opens on Wednesday, March 11, 2015. A conference call to review these results will be held at 10:00 a.m. Eastern Time that day.

The call will be available by telephone at 866-318-8613 (toll free in the U.S.) or 617-399-5132 (for international callers), using passcode 56834949. Investors may also access a webcast by visiting the Company's website at www.oceanpowertechnologies.com and clicking on the Investor Relations tab. Recorded replays of the conference call will be available on the Company's website and by telephone at 888-286-8010 (toll free in the U.S.) or 617-801-6888 (for international callers), replay passcode 40246366, beginning at 2:00 p.m. Eastern on March 11, 2014.

About Ocean Power Technologies

Headquartered in Pennington, New Jersey, Ocean Power Technologies (Nasdaq:OPTT) is a pioneer in renewable wave-energy technology development that converts ocean wave energy into electricity. OPT's proprietary PowerBuoy^® technology is based on a modular design and has undergone periodic ocean testing since 1997. More information can be found at www.oceanpowertechnologies.com.

CONTACT: Company Contact:
         Mark A. Featherstone, Chief Financial Officer of OPT
         Telephone: +1 609 730 0400

         Investor Relations Contact:
         Shawn Severson, The Blueshirt Group
         Telephone: +1 415 489 2198