Ocean Power Technologies Appoints Authorized Service Partner in Kuwait for PowerBuoys® and WAM-Vs®
Ocean Power Technologies (NYSE American: OPTT) has signed an agreement with 3B General Trading & Contracting Co. W.L.L. (3B) to explore projects in Kuwait's offshore energy and maritime industry. The partnership aims to deploy WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI-capable Merrows™.
CEO Philipp Stratmann expressed enthusiasm about OPT's expansion in the Middle East, highlighting the growing offshore energy and maritime industry market in Kuwait. He emphasized that OPT's solutions provide operators with tools to generate offshore energy and ocean intelligence more effectively, safely, and efficiently.
Ocean Power Technologies (NYSE American: OPTT) ha firmato un accordo con 3B General Trading & Contracting Co. W.L.L. (3B) per esplorare progetti nell'industria energetica e marittima offshore del Kuwait. La partnership mira a utilizzare veicoli autonomi e senza equipaggio WAM-V® e Next Generation PowerBuoys® dotati di Merrows™ con capacità AI.
Il CEO Philipp Stratmann ha espresso entusiasmo per l'espansione di OPT in Medio Oriente, evidenziando la crescente industria energetica e marittima offshore nel Kuwait. Ha sottolineato che le soluzioni di OPT offrono agli operatori gli strumenti per generare energia offshore e intelligenza oceanica in modo più efficace, sicuro ed efficiente.
Ocean Power Technologies (NYSE American: OPTT) ha firmado un acuerdo con 3B General Trading & Contracting Co. W.L.L. (3B) para explorar proyectos en la industria energética y marítima en alta mar de Kuwait. La asociación tiene como objetivo desplegar vehículos de superficie autónomos y no tripulados WAM-V® y Next Generation PowerBuoys® equipados con Merrows™ capaces de IA.
El CEO Philipp Stratmann expresó su entusiasmo por la expansión de OPT en el Medio Oriente, destacando el creciente mercado de la industria energética y marítima en Kuwait. Enfatizó que las soluciones de OPT proporcionan a los operadores herramientas para generar energía en alta mar e inteligencia oceánica de manera más efectiva, segura y eficiente.
오션 파워 테크놀로지스(Ocean Power Technologies, NYSE American: OPTT)는 쿠웨이트의 해양 에너지 및 조선 산업 프로젝트를 탐색하기 위해 3B 일반 거래 및 계약 회사(3B)와 계약을 체결했습니다. 이 파트너십은 AI 기능이 갖춰진 Merrows™를 장착한 WAM-V® 자율 무인 수상 차량과 차세대 파워 부이(Next Generation PowerBuoys®)를 배치하는 것을 목표로 합니다.
CEO 필립 스트랫만(Philipp Stratmann)은 쿠웨이트의 해양 에너지 및 조선 산업 시장의 성장에 주목하며 OPT의 중동 확장에 대한 기대감을 표현했습니다. 그는 OPT의 솔루션이 운영자들에게 더욱 효과적이고 안전하며 효율적으로 해양 에너지를 생성하고 해양 정보를 활용할 수 있는 도구를 제공한다고 강조했습니다.
Ocean Power Technologies (NYSE American: OPTT) a signé un accord avec 3B General Trading & Contracting Co. W.L.L. (3B) pour explorer des projets dans l'industrie énergétique et maritime offshore du Koweït. Le partenariat vise à déployer des véhicules de surface autonomes et sans équipage WAM-V® et des Next Generation PowerBuoys® équipés de Merrows™ capables d'IA.
Le PDG Philipp Stratmann a exprimé son enthousiasme quant à l'expansion d'OPT au Moyen-Orient, soulignant le marché en pleine croissance de l'industrie énergétique et maritime offshore au Koweït. Il a souligné que les solutions d'OPT offrent aux opérateurs des outils pour générer de l'énergie offshore et de l'intelligence océanique de manière plus efficace, sûre et efficiente.
Ocean Power Technologies (NYSE American: OPTT) hat eine Vereinbarung mit 3B General Trading & Contracting Co. W.L.L. (3B) unterzeichnet, um Projekte in der Offshore-Energie- und Schifffahrtsindustrie in Kuwait zu erkunden. Die Partnerschaft zielt darauf ab, autonome und unbemannte WAM-V®-Oberflächenfahrzeuge sowie Next Generation PowerBuoys® einzusetzen, die mit AI-fähigen Merrows™ ausgestattet sind.
CEO Philipp Stratmann äußerte seine Begeisterung über die Expansion von OPT im Nahen Osten und hob den wachsenden Markt der Offshore-Energie- und Schifffahrtsindustrie in Kuwait hervor. Er betonte, dass die Lösungen von OPT den Betreibern Werkzeuge bieten, um Offshore-Energie und Ozeanintelligenz effektiver, sicherer und effizienter zu erzeugen.
- Expansion into the growing Kuwait offshore energy and maritime market
- Partnership with 3B General Trading & Contracting Co. W.L.L. for project exploration
- Potential deployment of WAM-V® autonomous vehicles and Next Generation PowerBuoys®
- None.
Enables projects to be realized in country
MONROE TOWNSHIP, N.J., Oct. 14, 2024 (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 has signed an agreement with 3B General Trading & Contracting Co. W.L.L. (3B) to explore projects in the offshore energy and maritime industry in Kuwait, including deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™.
Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this agreement, stating, "As we continue our growth, we are excited to continue our expansion in the Middle East. The offshore energy and maritime industry market in Kuwait continues to grow and we believe our PowerBuoys® and WAM-V® unmanned surface vehicles coupled with AI Merrows™ solutions provide operators the tools to generate offshore energy and ocean intelligence more effectively, safely, and efficiently.”
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 success of our new 3B relationship, the continued success of its vehicles and PowerBuoys. 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
What is the purpose of Ocean Power Technologies' agreement with 3B in Kuwait?
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