Ocean Power Technologies Secures Order for Fully Integrated WAM-V for an International Government Customer
Ocean Power Technologies (NYSE American: OPTT) has secured a new contract from an international government customer for a fully integrated WAM-V system with near-term delivery requirements. The contract represents an expansion of OPT's presence in international markets, particularly in Latin America and the Middle East.
The company will begin immediate assembly and shipping of the vehicle, with training and services to be provided in the customer's country. CEO Philipp Stratmann highlighted this contract as evidence of growing market demand for OPT's systems, emphasizing the company's success in converting pipeline opportunities into backlog and driving further growth.
Ocean Power Technologies (NYSE American: OPTT) ha ottenuto un nuovo contratto da un cliente governativo internazionale per un sistema WAM-V completamente integrato con requisiti di consegna a breve termine. Il contratto rappresenta un'espansione della presenza di OPT nei mercati internazionali, in particolare in America Latina e Medio Oriente.
La società inizierà immediatamente l'assemblaggio e la spedizione del veicolo, con formazione e servizi che saranno forniti nel paese del cliente. Il CEO Philipp Stratmann ha evidenziato questo contratto come prova della crescente domanda di mercato per i sistemi di OPT, sottolineando il successo dell'azienda nel convertire le opportunità in pipeline in un backlog e nel guidare una crescita ulteriore.
Ocean Power Technologies (NYSE American: OPTT) ha asegurado un nuevo contrato de un cliente gubernamental internacional para un sistema WAM-V completamente integrado con requisitos de entrega a corto plazo. El contrato representa una expansión de la presencia de OPT en los mercados internacionales, particularmente en América Latina y el Medio Oriente.
La empresa comenzará de inmediato el ensamblaje y el envío del vehículo, con capacitación y servicios que se proporcionarán en el país del cliente. El CEO Philipp Stratmann destacó este contrato como evidencia de la creciente demanda del mercado por los sistemas de OPT, enfatizando el éxito de la empresa en convertir oportunidades en la cartera en backlog y en impulsar un crecimiento adicional.
오션 파워 테크놀로지스 (NYSE American: OPTT)는 국제 정부 고객으로부터 단기 배송 요구 사항이 있는 완전 통합 WAM-V 시스템에 대한 새로운 계약을 체결했습니다. 이 계약은 OPT의 국제 시장에서의 입지 확장을 나타내며, 특히 라틴 아메리카와 중동에서의 성장입니다.
회사는 즉시 차량의 조립 및 배송을 시작하며, 고객 국가에서 교육 및 서비스를 제공할 예정입니다. CEO 필립 스트랫만은 이 계약을 OPT 시스템에 대한 시장 수요 증가의 증거로 강조하며, 파이프라인 기회를 백로그로 전환하고 추가 성장을 이끄는 회사의 성공을 강조했습니다.
Ocean Power Technologies (NYSE American: OPTT) a obtenu un nouveau contrat d'un client gouvernemental international pour un système WAM-V entièrement intégré avec des exigences de livraison à court terme. Ce contrat représente une expansion de la présence d'OPT sur les marchés internationaux, en particulier en Amérique latine et au Moyen-Orient.
L'entreprise commencera immédiatement l'assemblage et l'expédition du véhicule, avec formation et services à fournir dans le pays du client. Le PDG Philipp Stratmann a souligné ce contrat comme une preuve de la demande croissante du marché pour les systèmes d'OPT, mettant en avant le succès de l'entreprise à convertir les opportunités en pipeline en backlog et à stimuler une croissance supplémentaire.
Ocean Power Technologies (NYSE American: OPTT) hat einen neuen Vertrag von einem internationalen Regierungsauftraggeber für ein vollständig integriertes WAM-V-System mit kurzfristigen Lieferanforderungen gesichert. Der Vertrag stellt eine Erweiterung von OPTs Präsenz auf internationalen Märkten dar, insbesondere in Lateinamerika und dem Nahen Osten.
Das Unternehmen wird sofort mit der Montage und dem Versand des Fahrzeugs beginnen, wobei Schulungen und Dienstleistungen im Land des Kunden angeboten werden. CEO Philipp Stratmann hob diesen Vertrag als Beweis für die wachsende Marktnachfrage nach OPT-Systemen hervor und betonte den Erfolg des Unternehmens, Pipeline-Möglichkeiten in einen Auftragsbestand umzuwandeln und weiteres Wachstum voranzutreiben.
- Secured new international government contract for WAM-V system
- Immediate assembly and near-term delivery indicates strong order execution
- Expanding market presence in Latin America and Middle East
- Successfully converting sales pipeline to backlog
- Contract value not disclosed
Assembly to begin immediately
MONROE TOWNSHIP, N.J., April 14, 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 secured a contract from a new international government customer for a fully integrated WAM-V for near term delivery. This contract further increases the value delivered from the Company’s previously announced expansion into certain regions, working with end customers and resellers. The vehicle will be assembled immediately and shipped to the customer. Training and services will be provided in-country.
Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this contract, stating, "Securing this contract is testament to demand for our systems in the market. Recent efforts in Latin America and the Middle East are continuing to drive interest in our systems. We continue to convert pipeline to backlog and deliver further growth. We look forward to future deliveries and additional opportunities to deploy our assets to our customer base here in the United States and to our partners in Latin America, the Middle East, and other allied nations."
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. 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 WAM-V operations and 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.
Contact Information
Investors: 203-561-6945 or investorrelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
FAQ
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