MONROE TOWNSHIP, N.J., May 21, 2019 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that it has received written notification from the Nasdaq Hearings Panel (the “Panel”) notifying the Company that it has regained compliance with the minimum shareholders’ equity rule, and further, that the Company complies with all other applicable standards for continued listing of its securities on the NASDAQ Stock Market, and that the Panel considers this matter closed.

About Ocean Power Technologies

Headquartered in Monroe Township, New Jersey, Ocean Power Technologies aspires to transform the world through durable, innovative and cost-effective ocean energy solutions. Its PB3 PowerBuoy^® uses ocean waves to provide clean and reliable electric power and real-time data communications for remote offshore applications in markets such as oil and gas, defense and security, science and research, and communications. To learn more, visit www.oceanpowertechnologies.com.