Ocean Power Technologies Completes First Sea Trial for WAM-V®s at US Coast Guard Approved Test Site in New Jersey
Ocean Power Technologies (NYSE: OPTT) has successfully completed its first WAM-V® 22 sea trials at its newly permitted test site in Southern New Jersey. The trials were conducted for a customer with significant operations in Sub Saharan Africa, following site visits and operational reviews by the US Coast Guard. The company's CEO, Philipp Stratmann, highlighted that this achievement enables OPT to conduct year-round testing on both East and West coasts, streamlining product delivery to customers and reducing time from booking to revenue recognition.
Ocean Power Technologies (NYSE: OPTT) ha completato con successo le sue prime prove in mare del WAM-V® 22 presso il suo nuovo sito di test autorizzato nel Sud del New Jersey. Le prove sono state effettuate per un cliente con operazioni significative nell'Africa subsahariana, dopo visite al sito e revisioni operative da parte della Guardia Costiera degli Stati Uniti. Il CEO dell'azienda, Philipp Stratmann, ha sottolineato che questo risultato permette a OPT di effettuare test tutto l'anno sia sulla costa Est che sulla costa Ovest, ottimizzando la consegna dei prodotti ai clienti e riducendo i tempi dalla prenotazione al riconoscimento dei ricavi.
Ocean Power Technologies (NYSE: OPTT) ha completado con éxito sus primeras pruebas en el mar del WAM-V® 22 en su nuevo sitio de pruebas autorizado en el sur de Nueva Jersey. Las pruebas se realizaron para un cliente con operaciones significativas en África subsahariana, tras visitas al sitio y revisiones operativas por parte de la Guardia Costera de EE.UU. El CEO de la compañía, Philipp Stratmann, destacó que este logro permite a OPT realizar pruebas durante todo el año tanto en la costa Este como en la costa Oeste, facilitando la entrega de productos a los clientes y reduciendo el tiempo desde la reserva hasta el reconocimiento de ingresos.
Ocean Power Technologies (NYSE: OPTT)는 뉴저지 남부에 새로 허가받은 시험장에서 첫 WAM-V® 22 해상 시험을 성공적으로 완료했습니다. 이 시험은 사하라 사막 이남 아프리카에서 주요 사업을 운영하는 고객을 위해 미 연안경비대의 현장 방문 및 운영 검토 후 진행되었습니다. 회사의 CEO 필립 스트라트만은 이번 성과가 OPT가 동부 및 서부 해안에서 연중 시험을 수행할 수 있게 해주어 고객에게 제품을 신속히 전달하고 예약부터 수익 인식까지의 시간을 단축할 수 있다고 강조했습니다.
Ocean Power Technologies (NYSE: OPTT) a réussi à terminer ses premiers essais en mer du WAM-V® 22 sur son nouveau site d'essais autorisé dans le sud du New Jersey. Ces essais ont été réalisés pour un client ayant des opérations importantes en Afrique subsaharienne, après des visites de site et des revues opérationnelles par la Garde côtière américaine. Le PDG de l'entreprise, Philipp Stratmann, a souligné que cette réussite permet à OPT de réaliser des tests toute l'année sur les côtes Est et Ouest, facilitant ainsi la livraison des produits aux clients et réduisant le délai entre la commande et la reconnaissance des revenus.
Ocean Power Technologies (NYSE: OPTT) hat erfolgreich seine ersten WAM-V® 22 Seetests an seinem neu genehmigten Teststandort im Süden von New Jersey abgeschlossen. Die Tests wurden für einen Kunden mit bedeutenden Aktivitäten in Subsahara-Afrika durchgeführt, nach Standortbesuchen und operativen Überprüfungen durch die US-Küstenwache. Der CEO des Unternehmens, Philipp Stratmann, betonte, dass dieser Erfolg OPT ermöglicht, ganzjährig Tests an der Ost- und Westküste durchzuführen, was die Produktlieferung an Kunden erleichtert und die Zeit von der Buchung bis zur Umsatzrealisierung verkürzt.
- Successful completion of WAM-V® sea trials for a major customer
- New US Coast Guard approved test site enables year-round testing on both coasts
- Reduced time from booking to revenue recognition
- Expansion of testing capabilities to serve customers more efficiently
- None.
Completion of Sea Trial confirms ability to test 24/7/365 on East and West Coast
MONROE TOWNSHIP, N.J., May 22, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative, cost-effective, low-carbon and artificial intelligence maritime services that enable safer and more productive ocean operations and related power, data, and service solutions, today announced that it has completed its first WAM-V® 22 sea trials for a customer with substantial operations in Sub Saharan Africa. The sea trials were carried out at OPT’s newly permitted test site in Southern New Jersey following site visits and operational reviews by the US Coast Guard.
Philipp Stratmann, CEO of the Company, commented, "This is a great step ahead for OPT. We are pleased that we have completed the sea trials of a WAM-V® for a major specialized offshore services customer and were able to do so at our newly permitted test site. This now enables us to test year-round on either coast, making it easier for customers to receive their products and further decreasing the time from booking to revenue recognition."
For additional details on Ocean Power Technologies and its services and solutions for the defense, security and ocean energy industries, please visit www.oceanpowertechnologies.com.
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 potential continuing success with the delivery of customer products and services over extended timeframes, 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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