05:48 PM EDT, 06/27/2024 (MT Newswires) -- Ocean Power Technologies ( OPTT ) said Thursday it signed an Original Equipment Manufacturer agreement with Teledyne Marine, a Teledyne Technologies ( TDY ) unit providing maritime technology.

Ocean Power ( OPTT ) plans to leverage Teledyne's ( TDY ) offerings to produce sensor and ocean technology products.

Terms of the partnership weren't disclosed.

Shares of Ocean Power ( OPTT ) soared 23% in recent after-hours activity. Teledyne Technologies ( TDY ) rose 0.6% in the regular session Thursday.

Price: 0.1978, Change: +0.04, Percent Change: +23.63