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 plans to leverage Teledyne's offerings to produce sensor and ocean technology products.
Terms of the partnership weren't disclosed.
Shares of Ocean Power soared 23% in recent after-hours activity. Teledyne Technologies rose 0.6% in the regular session Thursday.
Price: 0.1978, Change: +0.04, Percent Change: +23.63
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