Ocean Power Technologies Launches Global 24/7 Service Support Offering

Source: www.gulfoilandgas.com 6/17/2024, Location: North America

Ocean Power Technologies, Inc. (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has launched its Global 24/7 Service Support (“Services”). The Company was already servicing its Artificial Intelligence Capable Maritime Domain Awareness Solution, Merrows, in regions such as Latin America and Sub-Saharan Africa. In addition, OPT’s customers have been deploying WAM-Vs Unmanned Surface Vehicles (“USV”) in Asia and the Company anticipates additional deployments of its PowerBuoys and WAM-Vs in the Middle East. The new Services offering gives customers the opportunity for 24/7 support with tiered options to maintain operations around the globe. This new offering creates an additional recurring revenue stream for OPT that is complementary to our existing products

Philipp Stratman, CEO of OPT, expressed his enthusiasm about this Service offering, stating, "Our customers have consistently asked us to propose services to them above and beyond warranties and guarantees. This new Services offering enables our customers to choose from a menu of options and determine the most cost-effective way to operate our PowerBuoys and USVs. It also positions us to add additional recurring revenues to our ongoing growth."


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