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Ocean Power Technologies Accelerates UAE Growth Strategy Through Expanded Partnership with Unique Group

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Ocean Power Technologies (NYSE American: OPTT) has expanded its partnership with UAE-based Unique Group through a Master Services Agreement (MSA). The agreement positions Unique Group as OPT's execution partner for non-defense WAM-V® USV projects in the UAE.

Key aspects of the partnership include:

  • Immediate lease of one OPT WAM-V 22 unmanned surface vehicle by Unique Group
  • Revenue sharing and purchase options
  • Joint expansion of regional fleet capacity
  • Establishment of a dedicated Maintenance, Repair, and Overhaul (MRO) hub in the UAE

This strategic collaboration aims to accelerate WAM-V deployments and scale recurring lease income in the UAE market while reducing operational risks, carbon emissions, and costs.

Ocean Power Technologies (NYSE American: OPTT) ha ampliato la sua collaborazione con la UAE-based Unique Group mediante un Master Services Agreement (MSA). L'accordo designa Unique Group come partner esecutivo di OPT per i progetti WAM-V® USV non militari negli Emirati.

Punti chiave della partnership includono:

  • Locazione immediata di un veicolo di superficie senza equipaggio OPT WAM-V 22 da parte di Unique Group
  • Divisione dei ricavi e opzioni di acquisto
  • Espansione congiunta della capacità della flotta regionale
  • Istituzione di un hub dedicato per Manutenzione, Riparazione e Revisione (MRO) negli Emirati

Questa collaborazione strategica mira ad accelerare le implementazioni dei WAM-V e a far crescere i ricavi ricorrenti da locazione nel mercato degli Emirati, riducendo al contempo i rischi operativi, le emissioni di carbonio e i costi.

Ocean Power Technologies (NYSE American: OPTT) ha ampliado su asociación con la empresa de Emiratos Unique Group mediante un Master Services Agreement (MSA). El acuerdo posiciona a Unique Group como socio ejecutor de OPT para proyectos WAM-V® USV no militares en los EAU.

Aspectos clave de la asociación incluyen:

  • Arrendamiento inmediato por parte de Unique Group de un vehículo de superficie no tripulado OPT WAM-V 22
  • Participación en los ingresos y opciones de compra
  • Expansión conjunta de la capacidad de la flota regional
  • Establecimiento de un centro dedicado de Mantenimiento, Reparación y Revisión (MRO) en los EAU

Esta colaboración estratégica pretende acelerar los despliegues de WAM-V y aumentar los ingresos recurrentes por arrendamiento en el mercado de los EAU, al tiempo que reduce los riesgos operativos, las emisiones de carbono y los costes.

Ocean Power Technologies (NYSE American: OPTT)는 UAE 기반의 Unique Group과 마스터 서비스 계약(MSA)을 통해 파트너십을 확대했습니다. 이 계약은 Unique Group을 UAE 내 비군사 WAM-V® USV 프로젝트에 대한 OPT의 실행 파트너로 지정합니다.

파트너십의 주요 내용은 다음과 같습니다:

  • Unique Group에 의한 OPT WAM-V 22 무인 수상 차량의 즉시 임대
  • 수익 공유 및 구매 옵션
  • 지역 함대 용량의 공동 확장
  • UAE에 전담 정비·수리·오버홀(MRO) 허브 설립

이 전략적 협력은 WAM-V 배치를 가속화하고 UAE 시장에서 임대 기반의 반복 수익을 확장하는 동시에 운영 리스크, 탄소 배출 및 비용을 줄이는 것을 목표로 합니다.

Ocean Power Technologies (NYSE American: OPTT) a élargi son partenariat avec le groupe Unique, basé aux Émirats arabes unis, via un Master Services Agreement (MSA). L'accord positionne Unique Group comme partenaire d'exécution d'OPT pour les projets WAM-V® USV non militaires aux ÉAU.

Les points clés du partenariat incluent :

  • Location immédiate d'un véhicule de surface sans pilote OPT WAM-V 22 par Unique Group
  • Partage des revenus et options d'achat
  • Expansion conjointe de la capacité de la flotte régionale
  • Création d'un hub dédié de Maintenance, Réparation et Révision (MRO) aux ÉAU

Cette collaboration stratégique vise à accélérer les déploiements de WAM-V et à développer les revenus récurrents issus des locations sur le marché des ÉAU, tout en réduisant les risques opérationnels, les émissions de carbone et les coûts.

Ocean Power Technologies (NYSE American: OPTT) hat seine Partnerschaft mit dem in den VAE ansässigen Unique Group durch eine Master Services Agreement (MSA) erweitert. Die Vereinbarung positioniert Unique Group als OPTs Ausführungspartner für nicht-militärische WAM-V® USV-Projekte in den VAE.

Wesentliche Aspekte der Partnerschaft umfassen:

  • Sofortige Anmietung eines OPT WAM-V 22 unbemannten Oberflächenfahrzeugs durch Unique Group
  • Umsatzbeteiligung und Kaufoptionen
  • Gemeinsamer Ausbau der regionalen Flottenkapazität
  • Einrichtung eines dedizierten Wartungs-, Reparatur- und Überholungs(HRO)/MRO-Hubs in den VAE

Diese strategische Zusammenarbeit zielt darauf ab, WAM-V-Einsätze zu beschleunigen und wiederkehrende Mieteinnahmen im VAE-Markt zu skalieren, während gleichzeitig operative Risiken, CO2-Emissionen und Kosten gesenkt werden.

Positive
  • None.
Negative
  • Heavy reliance on single regional partner for non-defense WAM-V projects
  • Required investment in UAE infrastructure for MRO hub establishment

Insights

OPT's expanded UAE partnership with Unique Group creates clear path to revenue growth through WAM-V deployments without significant overhead costs.

Ocean Power Technologies has strategically elevated its UAE market position through a formalized Master Services Agreement with Unique Group, transforming what began as a preliminary collaboration into a comprehensive regional execution framework. The arrangement positions Unique Group as OPT's exclusive non-defense WAM-V unmanned surface vehicle partner throughout the UAE, creating an immediate revenue stream through the leasing of one WAM-V 22 vessel with provisions for revenue sharing.

The partnership architecture demonstrates sophisticated market entry strategy, allowing OPT to penetrate the Gulf region without capital-intensive infrastructure investments or headcount expansion. By leveraging Unique Group's established regional presence and technical capabilities, OPT gains immediate operational capacity while maintaining technology ownership and participation in revenue generation.

The planned establishment of a dedicated Maintenance, Repair, and Overhaul hub represents a crucial operational element that will support service continuity and create additional revenue opportunities through aftermarket services. This approach reflects industry best practices for maritime technology deployment in emerging markets, where local infrastructure support significantly enhances adoption rates.

The agreement's structure - combining immediate equipment leasing, revenue sharing mechanisms, and purchase options - creates multiple pathways to monetization while maintaining flexibility. This multi-tiered commercial approach aligns with successful patterns seen in other maritime technology deployments, where initial leasing arrangements often transition to fleet expansions as operational validation occurs.

For OPT, this partnership represents a significant milestone in its commercialization journey, potentially transforming its WAM-V technology from developmental asset to revenue-generating product without the typical capital expenditures associated with international market expansion.

MONROE TOWNSHIP, N.J., Aug. 26, 2025 (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 uncrewed surface vehicle (USV) solutions, today announced that it has entered into a Master Services Agreement (“MSA”) with its established partner, Unique Group, a UAE-headquartered global leader in subsea technologies and offshore engineering.

This MSA formalizes and significantly expands the strategic collaboration originally announced in July 2024, positioning Unique Group as OPT’s execution partner for all non-defense WAM-V® USV projects in the United Arab Emirates (UAE). With a well-established regional partner and a clear operational path, OPT believes it is now positioned to accelerate WAM-V deployments, convert active interest into revenue, and scale recurring lease income in the UAE without significant additional overhead.

As part of the agreement, Unique Group will immediately lease one OPT WAM-V 22 unmanned surface vehicle, with provisions for revenue sharing, purchase options, and joint expansion of regional fleet capacity. The agreement also includes plans for OPT to establish a dedicated Maintenance, Repair, and Overhaul (MRO) hub in the UAE to support regional operations and enhance service responsiveness.

“This expanded agreement with Unique Group reflects our strong mutual confidence and shared vision for bringing maritime autonomy to the forefront of operations in the Gulf,” said Philipp Stratmann, President and CEO of Ocean Power Technologies. “Together, we are unlocking the potential of uncrewed surface vehicles to reduce operational risk, carbon emissions, and costs, starting with the WAM-V 22 and extending to broader platform deployments across the UAE.”

The MSA supports a long-term growth framework for joint customer execution, vehicle upgrades, and technology transfer, while protecting the proprietary capabilities of each partner.

For additional information about OPT, please visit our website Ocean Power Technologies.

ABOUT OCEAN POWER TECHNOLOGIES

OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows™, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services. The Company’s headquarters is in Monroe Township, New Jersey, with an additional office in Richmond, California. To learn more about OPT’s groundbreaking products, services and solutions, visit www.OceanPowerTechnologies.com

FORWARD-LOOKING STATEMENTS

This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties, including the continuing successful operations of the AI capable Merrows™ PowerBuoy®, success with Unique Group, the delivery of customer services, the conversion of potential customers to contracts and the realization of the potential revenue thereunder. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Investors: 203-561-6945 or investorrelations@oceanpowertech.com

Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com


FAQ

What is the new partnership between Ocean Power Technologies (OPTT) and Unique Group?

OPTT has signed a Master Services Agreement making Unique Group its execution partner for non-defense WAM-V USV projects in the UAE, including immediate lease of a WAM-V 22 vehicle, revenue sharing, and establishment of an MRO hub.

How will the OPTT-Unique Group partnership generate revenue?

The partnership will generate revenue through WAM-V vehicle leasing, revenue sharing arrangements, and potential vehicle purchases, while scaling recurring lease income without significant overhead costs.

What are the main benefits of OPTT's expanded UAE partnership?

The partnership enables OPTT to accelerate WAM-V deployments, convert active interest into revenue, and establish a regional MRO hub while reducing operational risk, carbon emissions, and costs.

Where will Ocean Power Technologies establish its new MRO hub?

OPTT will establish a dedicated Maintenance, Repair, and Overhaul (MRO) hub in the United Arab Emirates (UAE) to support regional operations and enhance service responsiveness.

What is the WAM-V 22 being leased in the OPTT agreement?

The WAM-V 22 is an unmanned surface vehicle (USV) that helps reduce operational risk, carbon emissions, and costs in maritime operations.
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