Ocean Power Technologies Announces Successful Defense and Security Demonstrations in UAE
Ocean Power Technologies (NYSE American: OPTT) successfully demonstrated its defense and security capabilities at NAVDEX in Abu Dhabi in partnership with Remah International Group (RIG). The demonstrations featured OPT's WAM-V® Unmanned Surface Vehicles (USV), equipped with underwater sensors and aerial drone integration capabilities, alongside presentations of their Next Generation Powerbuoy® and AI-capable Merrows™ technologies.
The company showcased potential applications including autonomous anti-submarine warfare, mine counter measures support, national security applications, and maritime monitoring and intelligence solutions. Through collaboration with RIG, a UAE-headquartered company specializing in military and civilian services, OPT aims to expand its presence in the region and accelerate the adoption of autonomous, resident, persistent, and AI-capable ocean security technologies.
Ocean Power Technologies (NYSE American: OPTT) ha dimostrato con successo le proprie capacità di difesa e sicurezza al NAVDEX di Abu Dhabi in collaborazione con Remah International Group (RIG). Le dimostrazioni hanno messo in evidenza i veicoli di superficie senza pilota WAM-V® di OPT, dotati di sensori sottomarini e capacità di integrazione con droni aerei, insieme a presentazioni delle loro tecnologie Next Generation Powerbuoy® e Merrows™ capaci di intelligenza artificiale.
L'azienda ha mostrato potenziali applicazioni tra cui guerra anti-sottomarino autonoma, supporto per misure contro le mine, applicazioni per la sicurezza nazionale e soluzioni per il monitoraggio marittimo e l'intelligence. Attraverso la collaborazione con RIG, un'azienda con sede negli Emirati Arabi Uniti specializzata in servizi militari e civili, OPT mira a espandere la propria presenza nella regione e accelerare l'adozione di tecnologie di sicurezza oceanica autonome, residenti, persistenti e capaci di intelligenza artificiale.
Ocean Power Technologies (NYSE American: OPTT) demostró con éxito sus capacidades de defensa y seguridad en NAVDEX en Abu Dhabi en colaboración con Remah International Group (RIG). Las demostraciones presentaron los WAM-V® Vehículos de Superficie No Tripulados (USV) de OPT, equipados con sensores submarinos y capacidades de integración de drones aéreos, junto con presentaciones de sus tecnologías Next Generation Powerbuoy® y Merrows™ capaces de inteligencia artificial.
La empresa mostró aplicaciones potenciales que incluyen guerra antisubmarina autónoma, apoyo a medidas contra minas, aplicaciones de seguridad nacional y soluciones de monitoreo e inteligencia marítima. A través de la colaboración con RIG, una empresa con sede en los Emiratos Árabes Unidos especializada en servicios militares y civiles, OPT tiene como objetivo expandir su presencia en la región y acelerar la adopción de tecnologías de seguridad oceánica autónomas, residentes, persistentes y capaces de inteligencia artificial.
오션 파워 테크놀로지스 (NYSE American: OPTT)는 레마 인터내셔널 그룹(RIG)과 협력하여 아부다비의 NAVDEX에서 방어 및 보안 능력을 성공적으로 시연했습니다. 시연에서는 OPT의 WAM-V® 무인 수상 차량 (USV)이 수중 센서와 공중 드론 통합 기능을 갖추고 있으며, 차세대 파워부이(Next Generation Powerbuoy®) 및 인공지능(AI) 기능을 갖춘 메로우(Merrows™) 기술에 대한 발표가 포함되었습니다.
회사는 자율 잠수함 전쟁, 기뢰 대응 지원, 국가 안보 응용 프로그램 및 해양 모니터링 및 정보 솔루션과 같은 잠재적 응용 프로그램을 선보였습니다. RIG와의 협력을 통해 군사 및 민간 서비스 전문 UAE 본사 기업인 OPT는 이 지역에서의 존재감을 확대하고 자율적이고 지속적이며 AI 기능을 갖춘 해양 보안 기술의 채택을 가속화하는 것을 목표로 하고 있습니다.
Ocean Power Technologies (NYSE American: OPTT) a démontré avec succès ses capacités de défense et de sécurité lors de NAVDEX à Abu Dhabi en partenariat avec Remah International Group (RIG). Les démonstrations ont présenté les WAM-V® Véhicules de Surface Autonomes (USV) d'OPT, équipés de capteurs sous-marins et de capacités d'intégration de drones aériens, ainsi que des présentations de leurs technologies Next Generation Powerbuoy® et Merrows™ capables d'intelligence artificielle.
L'entreprise a mis en avant des applications potentielles telles que la guerre anti-sous-marine autonome, le soutien aux mesures anti-mines, les applications de sécurité nationale et les solutions de surveillance maritime et d'intelligence. Grâce à sa collaboration avec RIG, une entreprise basée aux Émirats Arabes Unis spécialisée dans les services militaires et civils, OPT vise à étendre sa présence dans la région et à accélérer l'adoption de technologies de sécurité océanique autonomes, résidentes, persistantes et capables d'intelligence artificielle.
Ocean Power Technologies (NYSE American: OPTT) hat erfolgreich seine Verteidigungs- und Sicherheitsfähigkeiten auf der NAVDEX in Abu Dhabi in Partnerschaft mit der Remah International Group (RIG) demonstriert. Die Vorführungen zeigten die WAM-V® Unbemannten Oberflächenfahrzeuge (USV) von OPT, die mit Unterwassersensoren und der Integration von Luftdrohnen ausgestattet sind, sowie Präsentationen ihrer Next Generation Powerbuoy® und AI-fähigen Merrows™ Technologien.
Das Unternehmen stellte potenzielle Anwendungen vor, darunter autonome U-Boot-Kriegsführung, Unterstützung bei Minenbekämpfungsmaßnahmen, nationale Sicherheitsanwendungen und maritime Überwachungs- und Informationslösungen. Durch die Zusammenarbeit mit RIG, einem in den VAE ansässigen Unternehmen, das auf militärische und zivile Dienstleistungen spezialisiert ist, zielt OPT darauf ab, seine Präsenz in der Region auszubauen und die Einführung autonomer, residenter, persistenter und AI-fähiger Technologien zur Sicherheit der Ozeane zu beschleunigen.
- Successful demonstration of defense and security capabilities at NAVDEX
- Strategic partnership with UAE-based Remah International Group
- Potential expansion opportunities in the UAE defense and security market
- None.
Insights
The successful demonstration of OPT's maritime defense capabilities at NAVDEX represents a strategic pivot towards the lucrative UAE defense market, where maritime security spending has been rapidly expanding. The showcase of their WAM-V® USV platform, integrated with underwater sensors and aerial drone capabilities, positions OPT at the intersection of three important maritime defense segments: surface surveillance, subsurface detection, and aerial reconnaissance.
The partnership with Remah International Group is particularly significant as it provides OPT with a strong local presence in the UAE, where defense procurement often requires established regional partnerships. RIG's existing relationships with military and civilian services could accelerate OPT's market penetration and reduce traditional barriers to entry in the Gulf region's defense sector.
The demonstration of the AI-capable Merrows™ system alongside the Next Generation Powerbuoy® showcases OPT's comprehensive approach to maritime security. The integration of autonomous capabilities with persistent power solutions addresses a critical challenge in maritime operations - the need for long-duration, unmanned surveillance in strategic waterways.
While the immediate revenue impact remains to be seen, the focus on anti-submarine warfare and mine countermeasures aligns with regional naval modernization priorities, particularly given increasing tensions in nearby waters. The emphasis on commercially available solutions suggests a shorter sales cycle compared to custom military hardware, potentially accelerating revenue recognition.
However, investors should note that defense contract conversion cycles typically span 12-24 months, and the company's reference to future updates on backlog and revenues indicates that material financial impact may not be immediate. The success of these demonstrations could serve as a reference point for other Gulf Cooperation Council nations, potentially creating a broader regional opportunity for OPT's maritime security solutions.
Paving the Way for Strategic Expansion in the Region
MONROE TOWNSHIP, N.J., Feb. 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it successfully demonstrated its defense and security capabilities during NAVDEX in Abu Dhabi with Remah International Group (“RIG”), a privately held and UAE headquartered company with a focus on both military and civilian services. OPT and RIG conducted live demonstrations during NAVDEX of OPT’s WAM-V® Unmanned Surface Vehicles (“USV”), equipped with underwater sensors and capable of aerial drone integration, and exhibited its other capabilities including the Next Generation Powerbuoy®, and the AI capable Merrows™.
OPT believes that these demonstrations and the resulting discussions focused on its commercially available solutions in partnership with RIG’s leading position in the UAE should result in opportunities for further growth in the region. These opportunities include autonomous anti-submarine warfare and mine counter measures support, national security applications, and maritime monitoring and intelligence solutions. OPT will provide additional updates as opportunities convert to backlog and revenues.
Dr. Philipp Stratmann, OPT’s CEO, expressed his enthusiasm about the demonstration, stating, "We are very excited to have demonstrated our capabilities to current and potential customers during NAVDEX. Our team, led by Matt Burdyny, our Chief Commercial Officer, together with several of our highly skilled ASV operators, showcased that our commercially available products provide cost effective maritime security solutions. We believe that through these demonstrations we can materially accelerate the adoption of autonomous, resident, persistent, and AI-capable ocean security technologies in the region. We look forward to further expanding our presence in the UAE and continuing our work with RIG and other partners."
For additional information about OPT and its services, please visit our website Ocean Power Technologies.
ABOUT OCEAN POWER TECHNOLOGIES
OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey and has an additional office in Richmond, California. To learn more, visit www.OceanPowerTechnologies.com.
FORWARD-LOOKING STATEMENTS
This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the ultimate commercial success of the RIG partnership and the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
FAQ
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