Ocean Power Technologies Secures $3 Million in Purchase Order Commitments for WAM-V USV's in Latin America
09 Dicembre 2024 - 2:15PM
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 a new
partnership, with $3M of purchase order commitments over 36 months
in Latin America. This increases by $1.5M the previously announced
$1.5M of purchases orders in Latin America.
The WAM-V USV's, renowned for their cutting-edge technology and
versatility, will be deployed in hydrographic applications and by
utilizing their adaptability and reliability will provide our
customer with an unrivaled versatile multi-application solution.
This landmark order not only underscores the growing demand for
OPT's innovative solutions but also solidifies the Company's
position as a leader in the maritime artificial intelligence
robotics sector.
Commenting on this significant achievement, Philipp Stratmann,
President and CEO of Ocean Power Technologies, expressed his
enthusiasm, stating, "We are thrilled to have a new partnership in
Latin America, that builds on the growth we have seen in this
region recently. This order highlights our continued commitment to
delivering unparalleled solutions to the region that redefine
possibilities in marine artificial intelligence."
With a proven track record of delivering state-of-the-art
solutions tailored to meet the evolving needs of diverse
industries, OPT remains at the forefront of innovation in the
maritime artificial intelligence robotics sector.
The Company believes that its dedication to excellence and
customer satisfaction continues to drive its success, enabling it
to forge strategic partnerships and expand its global
footprint.
For more information about Ocean Power Technologies and their
innovative solutions, 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, 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® 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, including its
anticipated penetration of the Latin America market. These
forward-looking statements rely on a number of assumptions and
estimates that could be inaccurate and subject to risks and
uncertainties. Actual results, including the performance of the
WAM-V USV's, 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 OPTT@investor.morrowsodali.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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