Ocean Power Technologies, Inc. (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, announced it has shipped a Merrows™ capable PowerBuoy® to demonstrate the survivability and suitability of the system for certain defense and security applications, including surface and subsea monitoring. This follows OPT’s execution of a teaming agreement with a major international defense contractor last year to provide its Merrows™ suite of solutions with a focus on certain geographic regions.
Mr. Philipp Stratmann, CEO and President of Ocean Power Technologies, expressed enthusiasm about the progress on this contract, stating, "We are excited to follow up on our previously announced binding letter of intent to demonstrate the offshore capabilities and suitability of our intelligence, surveillance, and reconnaissance solutions. This step underscores our commitment to enhancing maritime security globally, and we are confident that together with our partners, we will achieve remarkable advancements in this field."
