Ocean Power Technologies Selected as Preferred Supplier for Delivery of AI capable Merrows Buoy in the Middle East
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., June 24, 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 been selected as preferred supplier for a PowerBuoy equipped with Merrows, its Artificial Intelligence capable Maritime Domain Awareness Solution, for an immediate delivery opportunity in the Midde East. This contract, once finalized, will generate revenues in the current quarter. Due to the confidential nature of the award, details are not being disclosed. The Company had previously announced the completion of engineering for Merrows in hot climates. Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this revenue generating selection, stating, "In addition to the material growth of our WAM-V business, we are excited to continue growing our PowerBuoy business. We believe that the Middle East offers a lot o
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- 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 Government [Yahoo! Finance]Yahoo! Finance
- 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
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