Ocean Power Technologies Secures a Multi-Buoy Letter Contract with a $6.5M Ceiling to Bolster Maritime Domain Awareness for US Government Agencies
11 Dezembro 2023 - 10:30AM
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 it has received a letter contract from a US based prime
contractor for multiple maritime domain awareness buoys advancing
our commitment to national security and intelligence.
This collaboration between OPT and the prime
contractor will focus on providing multidomain marine solutions in
support of US government agencies. OPT’s PowerBuoy’s® will play a
pivotal role in enhancing surveillance capabilities above and below
the waterline, contributing significantly to maritime domain
awareness initiatives. The current contract enables OPT to advance
the preparation of multiple of its Next Generation PowerBuoy®
systems with definitization to be received.
Philipp Stratmann, CEO of OPT, expressed
enthusiasm about the collaboration’s potential impact, stating,
“This collaboration exemplifies our commitment to innovation and
underscores the crucial role our technology plays in bolstering
maritime national security. We are excited to work alongside our
partner to provide state-of-the-art solutions, including multi-buoy
arrays, that contribute to a safer maritime environment."
The integration of OPT's technology expertise
marks a significant stride towards strengthening maritime
surveillance efforts, ensuring heightened security and safety
within the maritime domain.
For more information on Ocean Power Technologies
please visit our website at: 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. 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. 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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