Ocean Power Technologies Awarded Contract for Delivery of AI Capable Buoy in the USA
Ocean Power Technologies (NYSE American: OPTT) has secured a contract for immediate delivery of a PowerBuoy® system in the USA. The buoy, set for deployment on the East Coast, will be capable of integrating surface and subsea sensors with AI capabilities.
While specific details remain confidential, CEO Philipp Stratmann highlighted this as a revenue-generating contract, emphasizing the company's growth in both PowerBuoy® and WAM-V® business segments. The company positions its proven technology solutions as enabling persistent and resident monitoring for research and security applications.
Ocean Power Technologies (NYSE American: OPTT) ha ottenuto un contratto per la consegna immediata di un sistema PowerBuoy® negli Stati Uniti. La boa, prevista per il dispiegamento sulla costa orientale, sarà in grado di integrare sensori di superficie e sottomarini con capacità di intelligenza artificiale.
Sebbene i dettagli specifici rimangano riservati, il CEO Philipp Stratmann ha sottolineato questo come un contratto generatore di entrate, enfatizzando la crescita dell'azienda sia nel segmento PowerBuoy® che in quello WAM-V®. L'azienda posiziona le sue soluzioni tecnologiche collaudate come abilitanti per il monitoraggio persistente e residente per applicazioni di ricerca e sicurezza.
Ocean Power Technologies (NYSE American: OPTT) ha asegurado un contrato para la entrega inmediata de un sistema PowerBuoy® en los EE. UU. La boya, que se desplegará en la costa este, será capaz de integrar sensores de superficie y submarinos con capacidades de inteligencia artificial.
Aunque los detalles específicos permanecen confidenciales, el CEO Philipp Stratmann destacó esto como un contrato generador de ingresos, enfatizando el crecimiento de la empresa en los segmentos de negocio PowerBuoy® y WAM-V®. La empresa posiciona sus soluciones tecnológicas probadas como habilitadoras de monitoreo persistente y residente para aplicaciones de investigación y seguridad.
오션 파워 테크놀로지스 (NYSE American: OPTT)는 미국에서 PowerBuoy® 시스템의 즉각적인 납품 계약을 체결했습니다. 동부 해안에 배치될 이 부표는 AI 기능을 갖춘 수면 및 수중 센서를 통합할 수 있습니다.
구체적인 세부 사항은 비밀로 유지되지만, CEO 필립 스트랫만은 이를 수익 창출 계약으로 강조하며, PowerBuoy®와 WAM-V® 비즈니스 부문 모두에서 회사의 성장을 강조했습니다. 회사는 입증된 기술 솔루션을 연구 및 보안 애플리케이션을 위한 지속적이고 상주하는 모니터링을 가능하게 하는 것으로 자리매김하고 있습니다.
Ocean Power Technologies (NYSE American: OPTT) a obtenu un contrat pour la livraison immédiate d'un système PowerBuoy® aux États-Unis. La bouée, prévue pour être déployée sur la côte est, sera capable d'intégrer des capteurs de surface et sous-marins avec des capacités d'intelligence artificielle.
Bien que les détails spécifiques restent confidentiels, le PDG Philipp Stratmann a souligné qu'il s'agissait d'un contrat générateur de revenus, mettant en avant la croissance de l'entreprise dans les segments d'activité PowerBuoy® et WAM-V®. L'entreprise positionne ses solutions technologiques éprouvées comme facilitant la surveillance persistante et résidente pour des applications de recherche et de sécurité.
Ocean Power Technologies (NYSE American: OPTT) hat einen Vertrag für die sofortige Lieferung eines PowerBuoy®-Systems in den USA gesichert. Die Boje, die an der Ostküste eingesetzt werden soll, wird in der Lage sein, Oberflächen- und Unterwassersensoren mit KI-Funktionen zu integrieren.
Obwohl die spezifischen Details vertraulich bleiben, hob CEO Philipp Stratmann dies als einen umsatzgenerierenden Vertrag hervor und betonte das Wachstum des Unternehmens in den Geschäftsbereichen PowerBuoy® und WAM-V®. Das Unternehmen positioniert seine bewährten Technologielösungen als Ermöglicher für anhaltende und stationäre Überwachung in Forschungs- und Sicherheitsanwendungen.
- New revenue-generating contract secured for PowerBuoy® system
- Expansion of market presence on US East Coast
- Growth reported in both PowerBuoy® and WAM-V® business segments
- Contract details and value remain undisclosed due to confidentiality
System includes surface and subsurface sensors
MONROE TOWNSHIP, N.J., March 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 has been awarded a contract for a PowerBuoy® for an immediate delivery in the USA. This contract enables the future integration of surface and subsea sensors, and the buoy will be deployed on the East Coast. Due to the confidential nature of the contract, further details are not being disclosed.
Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this revenue generating contract, stating, "In addition to the material growth of our WAM-V® business, we are excited to continue growing our PowerBuoy® business. We believe that providing persistent and resident monitoring offers a lot of opportunities for our solutions in research and security applications. Offering proven technology solutions makes it easy for our potential customers to integrate additional WAM-V®s and PowerBuoy®s into their operations.”
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® unmanned surface vehicles (USV’s) and marine robotics services. The Company’s headquarters is located in Monroe Township, New Jersey and has an additional office in Richmond, California. 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 continued success of its Powerbuoy® products and Merrows™ solution 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.
CONTACT INFORMATION Investors: 203-561-6945 or investorrelations@oceanpowertech.com Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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