Ocean Power Technologies Ships Multiple Unmanned Surface Vehicles to US Government
Ocean Power Technologies, Inc. (OPTT)
US:NASDAQ Investor Relations:
oceanpowertechnologies.gcs-web.com/node/5806
Company Research
Source: GlobeNewswire
MONROE TOWNSHIP, N.J., Sept. 27, 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 shipped for prompt delivery multiple WAM-Vs on a previously announced sole source contract to a Department of the US Government. Delivery of the vehicles leads to revenue recognition. Due to the sensitive nature of this relationship, terms have not been disclosed. This delivery will build 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 enthusiasm about this revenue milestone, stating, "This shipment is further proof that we continue to execute for our customers and shareholders and
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OPTT
Sec Filings
- 12/20/24 - Form 305B2
- 12/20/24 - Form 8-K
- 12/20/24 - Form 424B5
- OPTT's page on the SEC website