Ocean Power
Technologies, Inc.
("OPT" or "the
Company") (NYSE American:
OPTT), a leader in innovative and cost-effective
low-carbon marine power, data, and service solutions, today
announced they have entered a contract with WildAid and Caribbean
Law Enforcement partners. This collaboration aims to protect vital
marine species and combat illegal, unreported, and unregulated
(IUU) fishing activities in critical habitats using OPT's
state-of-the-art uncrewed technologies.
Under this new agreement, OPT will provide WildAid and their
Caribbean Law Enforcement partners with an OPT WAM-V 16 Uncrewed
Surface Vessel (USV) equipped with an integrated quadcopter aerial
drone. This cutting-edge technology will empower law enforcement
agencies and conservation organizations to safeguard marine life
from illegal harvesting while ensuring the sustainability of these
critical ecosystems.
WildAid, an organization dedicated to inspiring change and
empowering the world to protect wildlife and essential habitats
from critical threats, including illegal fishing, wildlife
trafficking, and climate change, will play a pivotal role in this
partnership. WildAid's work spans the globe, with innovative
communications campaigns reaching millions of people in China,
Southeast Asia, Africa, and the U.S., encouraging them to take
action to protect endangered wildlife and reduce climate
impacts.
The collaboration between OPT, WildAid, and Caribbean Law
Enforcement will harness the power of uncrewed surface and air
assets to identify, track, and collect data from individuals
seeking to disrupt the pattern of life and threaten the environment
through their illicit activities. These technologies will provide
unprecedented, networked surveillance capabilities and evidence
collection, allowing authorities to gather critical information and
support legal actions while keeping personnel safely out of harm's
way until the precise time and conditions favor interdiction
efforts.
This partnership represents a significant step forward in the
fight against illegal fishing and the protection of marine life in
vital habitats. OPT's uncrewed technologies, coupled with the
expertise of WildAid and Caribbean Law Enforcement, will contribute
to the preservation of marine ecosystems and the prevention of IUU
fishing activities, which pose a significant threat to the
environment.
"Ocean Power Technologies is honored to work with WildAid and
Caribbean Law Enforcement on this vital initiative," said OPT CEO
and President, Philipp Stratmann. "Our uncrewed technologies are a
game-changer in the fight against illegal fishing. This is a
natural extension of our work in the defense and offshore energy
markets, and we are proud to contribute to this crucial effort to
protect marine species and their habitats. We believe these kinds
of autonomous deployments will also be of great interest for
applications such as border protection and homeland security."
Through this collaboration, Ocean Power Technologies, WildAid,
and Caribbean Law Enforcement are determined to make a substantial
difference in preserving marine life and critical habitats, setting
an example for innovative conservation efforts worldwide.
For more information about Ocean Power Technologies, please
visit: www.oceanpowertechnologies.com
For more information about WildAid, please visit:
www.wildaid.org
About Ocean Power Technologies:
OPT, a leader in innovative and cost-effective,
low carbon marine data, power, and consulting services, 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 (ASV) and marine robotics services through our
wholly owned subsidiary Marine Advanced Robotics and strategic
consulting services including simulation engineering, software
engineering, concept design and motion analysis through our wholly
owned subsidiary 3Dent. We are headquartered in Monroe Township,
New Jersey, and have offices in Houston, Texas, and Richmond,
California. To learn more, visit
www.OceanPowerTechnologies.com.
About WildAid:
WildAid is an international nonprofit organization dedicated to
ending illegal wildlife trade, fighting climate change, and
protecting our oceans. By inspiring change and strengthening
effective enforcement efforts, WildAid is making a global impact in
the preservation of our planet's most critical ecosystems.
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. 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: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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