Ocean Power Technologies Signs Strategic Reseller Agreement with Elektron SAS
Ocean Power Technologies (NYSE American: OPTT) has signed a strategic reseller agreement with Elektron SAS, a Colombia-based specialist in hydrographic and oceanographic instrumentation services. The partnership includes a $4 million purchase commitment for OPT's maritime technologies, including WAM-V® Unmanned Surface Vehicles, Next Generation PowerBuoy®, and AI-powered Merrows™ platform.
The agreement enables Elektron to provide sales, integration, and support services across Latin America, significantly expanding OPT's commercial presence in the region. This partnership aligns with OPT's strategy of global expansion through strategic partnerships and channel-driven growth in high-potential markets.
Ocean Power Technologies (NYSE American: OPTT) ha firmato un accordo strategico di rivendita con Elektron SAS, uno specialista colombiano nei servizi di strumentazione idrografica e oceanografica. La partnership include un impegno d'acquisto di 4 milioni di dollari per le tecnologie marittime di OPT, tra cui i veicoli di superficie senza pilota WAM-V®, il PowerBuoy® di nuova generazione e la piattaforma Merrows™ alimentata dall'IA.
L'accordo consente a Elektron di fornire servizi di vendita, integrazione e supporto in tutta l'America Latina, ampliando significativamente la presenza commerciale di OPT nella regione. Questa partnership è in linea con la strategia di espansione globale di OPT attraverso alleanze strategiche e crescita guidata dai canali in mercati ad alto potenziale.
Ocean Power Technologies (NYSE American: OPTT) ha firmado un acuerdo estratégico de reventa con Elektron SAS, un especialista colombiano en servicios de instrumentación hidrografica y oceanográfica. La asociación incluye un compromiso de compra de 4 millones de dólares para las tecnologías marítimas de OPT, incluidos los vehículos de superficie no tripulados WAM-V®, el PowerBuoy® de nueva generación y la plataforma Merrows™ impulsada por IA.
El acuerdo permite a Elektron proporcionar servicios de ventas, integración y soporte en toda América Latina, ampliando significativamente la presencia comercial de OPT en la región. Esta asociación se alinea con la estrategia de expansión global de OPT a través de asociaciones estratégicas y crecimiento impulsado por canales en mercados de alto potencial.
오션 파워 테크놀로지스 (NYSE American: OPTT)는 콜롬비아에 본사를 둔 수로 및 해양 기기 서비스 전문 기업인 Elektron SAS와 전략적 재판매 계약을 체결했습니다. 이 파트너십에는 OPT의 해양 기술에 대한 400만 달러 구매 약정이 포함되어 있으며, 여기에는 WAM-V® 무인 수상 차량, 차세대 PowerBuoy® 및 AI 기반 Merrows™ 플랫폼이 포함됩니다.
이 계약은 Elektron이 라틴 아메리카 전역에서 판매, 통합 및 지원 서비스를 제공할 수 있게 하여 OPT의 상업적 존재를 지역적으로 크게 확장합니다. 이 파트너십은 전략적 파트너십과 고 잠재력 시장에서의 채널 중심 성장을 통해 글로벌 확장을 목표로 하는 OPT의 전략과 일치합니다.
Ocean Power Technologies (NYSE American: OPTT) a signé un accord stratégique de revente avec Elektron SAS, un spécialiste colombien des services d'instrumentation hydrographique et océanographique. Ce partenariat inclut un engagement d'achat de 4 millions de dollars pour les technologies maritimes d'OPT, y compris les véhicules de surface sans pilote WAM-V®, le PowerBuoy® de nouvelle génération et la plateforme Merrows™ alimentée par IA.
L'accord permet à Elektron de fournir des services de vente, d'intégration et de support à travers l'Amérique latine, élargissant considérablement la présence commerciale d'OPT dans la région. Ce partenariat s'aligne avec la stratégie d'expansion mondiale d'OPT par le biais de partenariats stratégiques et d'une croissance axée sur les canaux dans des marchés à fort potentiel.
Ocean Power Technologies (NYSE American: OPTT) hat eine strategische Wiederverkaufsvereinbarung mit Elektron SAS unterzeichnet, einem in Kolumbien ansässigen Spezialisten für hydrographische und ozeanografische Instrumentierungsdienste. Die Partnerschaft umfasst ein 4 Millionen Dollar Kaufverpflichtung für die maritimen Technologien von OPT, einschließlich der unbemannten Oberflächenfahrzeuge WAM-V®, der nächsten Generation PowerBuoy® und der KI-gestützten Merrows™-Plattform.
Die Vereinbarung ermöglicht es Elektron, Verkaufs-, Integrations- und Unterstützungsdienste in ganz Lateinamerika anzubieten, was die kommerzielle Präsenz von OPT in der Region erheblich erweitert. Diese Partnerschaft steht im Einklang mit der Strategie von OPT zur globalen Expansion durch strategische Partnerschaften und kanalgetriebenes Wachstum in Märkten mit hohem Potenzial.
- $4 million purchase commitment secured from Elektron SAS
- Strategic expansion into Latin American market through established regional partner
- Addition of comprehensive sales and support channel for full product portfolio
- None.
Insights
Ocean Power Technologies' new reseller agreement with Elektron SAS represents a significant commercial development with tangible financial implications. The
This agreement delivers three key strategic benefits: 1) establishes a strong distribution channel in the Latin American market, 2) provides immediate revenue visibility through the purchase commitment, and 3) aligns with the company's stated global expansion strategy. The partnership model is capital-efficient, leveraging Elektron's regional expertise and relationships rather than requiring OPTT to build direct sales infrastructure.
The agreement covers OPTT's complete product portfolio, including their WAM-V® unmanned vehicles, PowerBuoy® technology, and AI-powered Merrows™ platform. This comprehensive approach suggests Elektron sees market demand across OPTT's offerings rather than interest in just a single product line.
While the timeframe for realizing the
Expands Commercial Reach of Intelligent Maritime Solutions Across Latin America
MONROE TOWNSHIP, N.J., April 11, 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 the signing of a reseller agreement with Elektron SAS (“Elektron”), a Cartegena, Colombia based specialist in hydrographic and oceanographic instrumentation services.
This partnership significantly expands OPT’s commercial footprint across Latin America, leveraging Elektron’s strong regional presence and deep relationships. Under the agreement, Elektron will offer sales, integration, and support services and includes a
“This agreement represents another key step forward in continuing to scale OPT’s global reseller network and unlocking additional high-growth markets,” said Philipp Stratmann, CEO of Ocean Power Technologies. “Elektron’s expertise and trusted position in the region provide a strong channel to deploy our intelligent maritime solutions for our customers across the energy and security industries. This builds on our existing momentum in Latin America and advances our broader goal of global expansion through strategic partnerships.”
This partnership follows a series of recent agreements and deployments that reinforce OPT’s position as a global leader in the marine robotics sector. The Company continues to prioritize channel-driven growth, scalable product deployments, and geographic expansion into high-potential markets.
For more information about Ocean Power Technologies, please visit www.OceanPowerTechnologies.com.
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 potential success with our new partners, Elektron SAS, the delivery of customers services 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.
Contact Information Investors: 203-561-6945 or investorrelations@oceanpowertech.com Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
FAQ
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