Ocean Power Technologies Awarded Contract to Provide Multiple Unmanned Surface Vehicles for International Defense Customer
Ocean Power Technologies (NYSE: OPTT) has secured a contract to deliver multiple WAM-V® unmanned surface vehicles to Allied Forces. The contract, scheduled for delivery in late Spring 2025, includes vehicles, integrated sensors, and operators under a contractor-owned contractor-operated (COCO) model.
This agreement builds upon OPT's recent success in providing autonomous Maritime Domain Awareness, Counter Unmanned Underwater Vehicles, and Mine Counter Measure Solutions across North America, Latin America, and the Middle East. The company's WAM-V® technology serves as a cost-efficient force multiplier for surface and seabed warfare efforts.
While specific contract terms remain undisclosed due to security considerations, CEO Philipp Stratmann highlighted the dual-use nature of their technologies, enabling service to diverse customers.
Ocean Power Technologies (NYSE: OPTT) ha ottenuto un contratto per la fornitura di più veicoli di superficie senza pilota WAM-V® alle Forze Alleate. La consegna, prevista per la tarda primavera del 2025, comprende veicoli, sensori integrati e operatori, secondo un modello contractor-owned contractor-operated (COCO).
Questo accordo si basa sul recente successo di OPT nel fornire soluzioni autonome per la Sorveglianza del Dominio Marittimo, il Contrasto ai Veicoli Subacquei Senza Pilota e le Contromisure contro le Mine in Nord America, America Latina e Medio Oriente. La tecnologia WAM-V® dell'azienda rappresenta un moltiplicatore di forza economico per le operazioni di guerra di superficie e sul fondale marino.
Pur non essendo stati divulgati i termini specifici del contratto per motivi di sicurezza, il CEO Philipp Stratmann ha sottolineato la natura duale delle loro tecnologie, che consente di servire una clientela diversificata.
Ocean Power Technologies (NYSE: OPTT) ha asegurado un contrato para entregar múltiples vehículos de superficie no tripulados WAM-V® a las Fuerzas Aliadas. La entrega, programada para finales de la primavera de 2025, incluye vehículos, sensores integrados y operadores bajo un modelo contractor-owned contractor-operated (COCO).
Este acuerdo se basa en el éxito reciente de OPT al proporcionar soluciones autónomas de Conciencia del Dominio Marítimo, Contramedidas contra Vehículos Submarinos No Tripulados y Soluciones contra Minas en Norteamérica, América Latina y Medio Oriente. La tecnología WAM-V® de la compañía funciona como un multiplicador de fuerza rentable para operaciones de guerra en superficie y fondo marino.
Aunque los términos específicos del contrato no se han revelado por razones de seguridad, el CEO Philipp Stratmann destacó la naturaleza de doble uso de sus tecnologías, que permite atender a diversos clientes.
Ocean Power Technologies (NYSE: OPTT)는 연합군에 다수의 WAM-V® 무인 수상 차량을 제공하는 계약을 체결했습니다. 이 계약은 2025년 늦은 봄에 납품될 예정이며, 차량, 통합 센서 및 운영자가 계약자 소유 계약자 운영(COCO) 모델 하에 포함됩니다.
이번 계약은 북미, 라틴 아메리카 및 중동 지역에서 자율 해양 도메인 인식, 무인 수중 차량 대응 및 기뢰 대응 솔루션을 제공하는 OPT의 최근 성공을 기반으로 합니다. 회사의 WAM-V® 기술은 수상 및 해저 전쟁 작업을 위한 비용 효율적인 전력 증강 수단으로 활용됩니다.
보안상의 이유로 구체적인 계약 조건은 공개되지 않았지만, CEO 필립 스트라트만은 자사 기술의 이중 사용 가능성을 강조하며 다양한 고객에게 서비스를 제공할 수 있음을 밝혔습니다.
Ocean Power Technologies (NYSE: OPTT) a obtenu un contrat pour fournir plusieurs véhicules de surface sans pilote WAM-V® aux Forces Alliées. La livraison, prévue pour la fin du printemps 2025, comprend les véhicules, des capteurs intégrés et des opérateurs dans le cadre d'un modèle contractor-owned contractor-operated (COCO).
Cet accord s'appuie sur le succès récent d'OPT dans la fourniture de solutions autonomes de Surveillance du Domaine Maritime, de Lutte contre les Véhicules Sous-Marins Sans Pilote et de Contre-Mesures Anti-Mines en Amérique du Nord, en Amérique Latine et au Moyen-Orient. La technologie WAM-V® de la société constitue un multiplicateur de force économique pour les opérations de guerre de surface et de fond marin.
Bien que les termes spécifiques du contrat restent confidentiels pour des raisons de sécurité, le PDG Philipp Stratmann a souligné la nature à double usage de leurs technologies, permettant de servir une clientèle diversifiée.
Ocean Power Technologies (NYSE: OPTT) hat einen Vertrag über die Lieferung mehrerer unbemannter Oberflächenfahrzeuge WAM-V® an die Allianzkräfte gesichert. Die Lieferung ist für Ende Frühjahr 2025 geplant und umfasst Fahrzeuge, integrierte Sensoren sowie Bedienpersonal im Rahmen eines contractor-owned contractor-operated (COCO) Modells.
Diese Vereinbarung baut auf OPTs jüngsten Erfolgen bei der Bereitstellung autonomer Lösungen zur maritimen Situationswahrnehmung, zur Bekämpfung unbemannter Unterwasserfahrzeuge und zu Minenabwehrmaßnahmen in Nordamerika, Lateinamerika und dem Nahen Osten auf. Die WAM-V®-Technologie des Unternehmens dient als kosteneffizienter Verstärker für Operationen auf der Wasseroberfläche und am Meeresboden.
Obwohl die genauen Vertragsbedingungen aus Sicherheitsgründen nicht offengelegt werden, betonte CEO Philipp Stratmann die doppelte Nutzbarkeit ihrer Technologien, die es ermöglicht, verschiedene Kunden zu bedienen.
- New revenue-generating defense contract secured for multiple WAM-V® vehicles
- Contract expands OPT's presence in the defense sector with Allied Forces
- Demonstrates market validation for OPT's autonomous maritime solutions
- Builds on existing success in multiple geographic regions
- Contract value and specific terms not disclosed
- Delivery timeline relatively short (Spring 2025), which could pose execution risks
Contract will lead to further growth with Allied Forces
MONROE TOWNSHIP, N.J., May 05, 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 service solutions, today announced it has been awarded a contract for multiple WAM-V®s for delivery to certain Allied Forces. The contract includes delivery of vehicles, integrated sensors, and operators as a contractor-owned contractor-operated (COCO) delivery in late Spring 2025.
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 PowerBuoy®s for autonomous Maritime Domain Awareness, Counter Unmanned Underwater Vehicles, and Mine Counter Measure Solutions in North America, Latin America, and the Middle East.
Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this revenue generating contract, stating, "We believe this agreement is further proof that our systems form an important part of building out the future of ocean security. Using highly adaptable and attritable Unmanned Surface Vehicles, like our WAM-V®, is a cost-efficient force multiplier for surface and seabed warfare efforts for the US Government and other Allied Forces. The dual use nature of our technologies enables us to provide systems to a broad set of customers.”
For additional information about OPT and its services, 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® unmanned surface vehicles (USV’s) and marine robotics services. The Company’s headquarters is located in Monroe Township, New Jersey and has an additional office in Richmond, California. To learn more, 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 effective delivery and implementation of the new contract to provide multiple unmanned surface vehicles for our international defense customer, the continued success of OPT’s vehicles and PowerBuoy®s, 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
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