Ocean Power Technologies Reaches Agreement in Principle for Delivery of Multiple Unmanned Surface Vehicles to US Government [Yahoo! Finance]
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: Yahoo! Finance
MONROE TOWNSHIP, N.J., June 26, 2024 (GLOBE NEWSWIRE) -- 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 it has reached an agreement in principle on a sole source contract award for multiple WAM-Vs for delivery to a Department of the US Government. The final contract award will be a Firm-Fixed-Price purchase order on a noncompetitive basis. Revenue will be recognized ratably over the course of the contract with an expected near-term delivery date. Due to the sensitive nature of this relationship, terms have not been disclosed. This award builds on the recent commercial success of OPT's vehicles and PowerBuoys for autonomous Maritime Domain Awareness, Counter Unmanned Underwater Vehicles, and Mine Counter Measure Solutions in North America, Sub Saharan Africa, and the Middle East. Philipp Stratmann, CEO and President of OPT, expressed his
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News
- Ocean Power Technologies Signs OEM Agreement with Key Maritime Technology Provider Teledyne Marine [Yahoo! Finance]Yahoo! Finance
- Ocean Power Technologies Signs OEM Agreement with Key Maritime Technology Provider Teledyne MarineGlobeNewswire
- Ocean Power Technologies Reaches Agreement in Principle for Delivery of Multiple Unmanned Surface Vehicles to US GovernmentGlobeNewswire
- Ocean Power Technologies Selected as Preferred Supplier for Delivery of AI capable Merrows Buoy in the Middle East [Yahoo! Finance]Yahoo! Finance
- Ocean Power Technologies Selected as Preferred Supplier for Delivery of AI capable Merrows Buoy in the Middle EastGlobeNewswire
OPTT
Sec Filings
- 6/26/24 - Form 8-K
- 6/17/24 - Form 8-K
- 6/14/24 - Form 8-K
- OPTT's page on the SEC website