Ocean Power Technologies Awarded Contract for Immediate Delivery of Unmanned Surface Vehicle to Offshore Construction Contractor
05 Junho 2024 - 8:30AM
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
WAM-V for immediate delivery to an Offshore Construction
Contractor. The award includes providing a spare vehicle system
that can be assembled onsite. The vehicle will provide survey
services for an offshore dredging project in Sub-Saharan Africa.
Revenue from this contract will be recognized over the course of
the contract.
This award builds on the recent commercial success of OPT’s
vehicles in offshore construction, and energy industry.
Philipp Stratmann, CEO and President of OPT, expressed his
enthusiasm about this revenue generating contract, stating, "In
addition to our recent expansion into Latin America, we are excited
to start providing services in Sub-Saharan Africa. This region has
an active offshore energy industry, and we are also excited about
potential ocean security applications. As we continue to scale, we
are also continuously looking at additional regions for expansion,
such as the Middle East.”
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. 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 continued success of its WAM-V
operations 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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