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Ocean Power Technologies Signs Agreement with Serviço Nacional de Aprendizagem Industrial to Advance Autonomous Ocean Developments

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Ocean Power Technologies (NYSE American: OPTT) has signed a Memorandum of Understanding (MOU) with Serviço Nacional de Aprendizagem Industrial (SENAI) in Brazil to explore collaboration on Blue Economy opportunities. The partnership aims to advance the deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™.

OPT's CEO, Philipp Stratmann, expressed enthusiasm about the partnership, highlighting the potential to support the development and deployment of ocean technologies in Brazil. The company sees an opportunity in Brazil's growing offshore energy market, believing their solutions can help operators generate offshore energy more effectively and efficiently.

Ocean Power Technologies (NYSE American: OPTT) ha firmato un Memorandum di Intesa (MOU) con il Serviço Nacional de Aprendizagem Industrial (SENAI) in Brasile per esplorare collaborazioni sulle opportunità della Blue Economy. L'obiettivo della partnership è promuovere l'implementazione dei veicoli di superficie autonomi e senza pilota WAM-V® e dei Next Generation PowerBuoys® dotati di Merrows™ alimentati da intelligenza artificiale.

Il CEO di OPT, Philipp Stratmann, ha espresso entusiasmo riguardo alla partnership, sottolineando il potenziale di supportare lo sviluppo e l'implementazione delle tecnologie oceaniche in Brasile. L'azienda vede un'opportunità nel crescente mercato dell'energia offshore in Brasile, credendo che le loro soluzioni possano aiutare gli operatori a generare energia offshore in modo più efficace ed efficiente.

Ocean Power Technologies (NYSE American: OPTT) ha firmado un Memorando de Entendimiento (MOU) con el Serviço Nacional de Aprendizagem Industrial (SENAI) en Brasil para explorar colaboraciones en oportunidades de la Economía Azul. La asociación tiene como objetivo avanzar en la implementación de vehículos de superficie autónomos y no tripulados WAM-V® y boyas de energía de próxima generación PowerBuoys® equipadas con Merrows™ impulsados por inteligencia artificial.

El CEO de OPT, Philipp Stratmann, expresó su entusiasmo por la asociación, destacando el potencial de apoyar el desarrollo y la implementación de tecnologías oceánicas en Brasil. La empresa ve una oportunidad en el creciente mercado de energía offshore en Brasil, creyendo que sus soluciones pueden ayudar a los operadores a generar energía offshore de manera más efectiva y eficiente.

오션 파워 기술(Ocean Power Technologies) (NYSE American: OPTT)는 브라질의 Serviço Nacional de Aprendizagem Industrial (SENAI)와 블루 이코노미 기회에 대한 협력을 탐색하기 위한 양해각서(MOU)를 체결했습니다. 이 파트너십의 목표는 WAM-V® 자율 무인 수상 차량AI capable Merrows™가 장착된 차세대 파워부이(Next Generation PowerBuoys®)의 배치를 촉진하는 것입니다.

OPT의 CEO인 Philipp Stratmann은 파트너십에 대한 열정을 표현하며, 브라질에서 해양 기술 개발 및 배치를 지원할 수 있는 잠재력을 강조했습니다. 이 회사는 브라질의 성장하는 해양 에너지 시장에서 기회를 보고 있으며, 자신의 솔루션이 운영자들이 해양 에너지를 더 효과적이고 효율적으로 생성하는 데 도움을 줄 수 있다고 믿고 있습니다.

Ocean Power Technologies (NYSE American: OPTT) a signé un protocole d'accord (MOU) avec le Serviço Nacional de Aprendizagem Industrial (SENAI) au Brésil pour explorer des collaborations sur les opportunités de l'économie bleue. Le partenariat vise à faire avancer le déploiement de véhicules de surface autonomes et sans pilote WAM-V® ainsi que des PowerBuoys® de nouvelle génération équipés de Merrows™ capables d'IA.

Le PDG d'OPT, Philipp Stratmann, a exprimé son enthousiasme à propos du partenariat, soulignant le potentiel de soutenir le développement et le déploiement de technologies océaniques au Brésil. L'entreprise voit une opportunité sur le marché croissant de l'énergie offshore au Brésil, croyant que ses solutions peuvent aider les opérateurs à générer de l'énergie offshore plus efficacement et efficacement.

Ocean Power Technologies (NYSE American: OPTT) hat ein Memorandum of Understanding (MOU) mit dem Serviço Nacional de Aprendizagem Industrial (SENAI) in Brasilien unterzeichnet, um eine Zusammenarbeit zu erkunden, die Chancen der Blauen Wirtschaft zu nutzen. Ziel der Partnerschaft ist es, den Einsatz von WAM-V® autonomen und unbemannten Oberflächenfahrzeugen sowie Next Generation PowerBuoys® mit KI-fähigen Merrows™ voranzutreiben.

Der CEO von OPT, Philipp Stratmann, äußerte sich begeistert über die Partnerschaft und hob das Potenzial hervor, die Entwicklung und den Einsatz von Meeres-technologien in Brasilien zu unterstützen. Das Unternehmen sieht eine Chance im wachsenden Offshore-Energiemarkt Brasiliens und glaubt, dass ihre Lösungen den Betreibern helfen können, Offshore-Energie effektiver und effizienter zu erzeugen.

Positive
  • Signed MOU with SENAI to explore Blue Economy opportunities in Brazil
  • Potential deployment of WAM-V® autonomous vehicles and Next Generation PowerBuoys® in Brazil
  • Expansion into growing Brazilian offshore energy market
Negative
  • None.

Will explore opportunities to advance Blue Economy projects

MONROE TOWNSHIP, N.J., Sept. 25, 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 a Memorandum of Understanding (MOU) with Serviço Nacional de Aprendizagem Industrial (SENAI Innovation Institute for Virtual Production Systems from Firjan) in Brazil to explore collaborating together toward Blue Economy opportunities including deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™. This agreement follows recent discussions between SENAI and OPT in Brazil.

Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this MOU, stating, "As we continue our growth, we are excited to partner with SENAI to explore supporting the development and deployment of ocean technologies into Brazil. The offshore energy market in Brazil continues to grow and we believe our PowerBuoys® and WAM-V® unmanned surface vehicles provide the next generation of operators the solutions to generate offshore energy more effectively 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 SENAI 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' MOU with SENAI in Brazil?

The MOU aims to explore collaboration on Blue Economy opportunities, including the deployment of WAM-V® autonomous vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™ in Brazil.

How does Ocean Power Technologies (OPTT) plan to benefit from the Brazilian offshore energy market?

OPTT believes its PowerBuoys® and WAM-V® unmanned surface vehicles can provide next-generation operators with solutions to generate offshore energy more effectively and efficiently in the growing Brazilian market.

What technologies does Ocean Power Technologies (OPTT) plan to deploy in Brazil?

OPTT plans to explore the deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™ in Brazil.

When did Ocean Power Technologies (OPTT) sign the MOU with SENAI?

The press release announcing the MOU signing is dated September 25, 2024.

Ocean Power Technologies, Inc.

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