Ocean Power Technologies Signs $0.5M Extension to Provide WAM-V® 22 for ongoing Activities Overseas
The contract extends through
OPT's WAM-V® ASV is a leading-edge autonomous surface vehicle that provides versatile, efficient, and cost-effective capabilities for a wide range of maritime applications. Its advanced technology enables it to perform a variety of tasks, including data collection, surveillance, and communication, making it an invaluable asset in maritime exercises and operations.
With this contract extension, OPT continues to strengthen its financial position through recurring revenues from this contract and others like it. This success underscores OPT's commitment to providing innovative and reliable marine solutions and supporting its clients' needs in the ever-evolving maritime landscape.
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. 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 vehicles (ASVs) and marine robotics services through our wholly owned subsidiary Marine Advanced Robotics. We are headquartered in
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Philipp Stratmann, President and CEO of Ocean Power Technologies, Inc., please contact: Media: 609-730-0400 or MediaRelations@oceanpowertech.com Investor contact information Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Source: Ocean Power Technologies, Inc.