Ocean Power Technologies Extends Headquarters Lease

Ocean Power Technologies (OPTT) has released an update.

Ocean Power Technologies, Inc. has recently amended its Industrial Lease Agreement to extend the lease term of its Monroe Township headquarters until April 30, 2026. Starting November 2024, the company will face a rent increase to $895,328, which will further rise to $931,141 in November 2025. This strategic move secures the company’s operational base for an additional period while adjusting their financial commitments accordingly.

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