OPT PowerBuoys Ordered to Bolster Maritime Domain Awareness for US Government Agencies
Ocean Power Technologies, Inc. (OPT) announced it has received a letter contract from a U.S. based prime contractor for multiple maritime domain awareness buoys for national security and intelligence purposes. The contract has a $6.5 million ceiling, OPT said.This collaboration between OPT and the prime contractor will focus on providing multidomain marine solutions in support of U.S. government agencies. OPT’s PowerBuoy’s will help to enhance surveillance capabilities above and below the waterline, contributing to maritime domain awareness initiatives. The current contract enables OPT to
Ocean Power Technologies Secures $1.6M Order for WAM-V 16 USVs
Ocean Power Technologies, Inc. said Tuesday it had received an additional volume order from Sulmara, an offshore services firm, of WAM-V 16 uncrewed surface vehicles (USVs) "making this the largest single order of WAM-Vs to date.""The order, valued at $1.6 million, underscores OPT's commitment to providing innovative and sustainable solutions for the offshore industry. Due to demand, production is already underway to support and will allow for revenue recognition this fiscal year," OPT said.According to OPT's website the VAM-V 16 USVs are suited for small to medium marine
Sulmara Executes Long-term Call Off Order for Second WAM-V 16
U.S. based marine technology company Ocean Power Technologies, Inc. (OPT) announced that Sulmara Subsea has executed a long-term call off order for a WAM-V 16 autonomous surface vehicle (ASV) within its existing master service lease agreement with OPT.This marks the second WAM-V 16 ASV that Sulmara has leased from OPT.The WAM-V ASV is an uncrewed surface vehicle that delivers high-performance results for a range of offshore applications, including geophysical surveying, environmental monitoring, maritime security, and marine infrastructure inspections. The technology and design of the WAM-V enable
Ocean Power Technologies Announces Leadership Changes
Ocean energy technology developer Ocean Power Technologies, Inc. (OPT) announced on Monday that Philipp Stratmann has been appointed as its new president and chief executive officer, and a director, while Matthew T. Shafer has been promoted to senior vice president, chief financial officer and treasurer.Stratmann, who previously served as OPT’s vice president of global business development since 2019, takes over from George H. Kirby, OPT president and CEO since 2015, who is leaving the company to pursue other endeavors.Stratmann received an engineering doctorate in engineering management as well
OPT's PowerBuoy Deployed Offshore Chile
Ocean Power Technologies, Inc. (OPT) said Thursday that Enel Green Power (EGP) has deployed OPT's PB3 PowerBuoy off the coast of Las Cruces, Chile to support the country’s transition to clean energy.OPT’s PB3 PowerBuoy converts wave motion into electricity to supply continuous and autonomous power and enable secure collection and transmission of data from the sea. In September 2019, EGP purchased a PB3 PowerBuoy and associated equipment from OPT to support Chile’s Marine Energy Research and Innovation Center (MERIC) Project, a hub for innovation in marine energy in Chile and
Ocean Power Technologies Buys Offshore Engineering firm 3Dent
U.S. based ocean energy technology developer Ocean Power Technologies has acquired 3Dent Technology, an offshore energy engineering and design services company based in Houston, Texas. "OPT’s first acquisition brings additional revenue from 3Dent’s established project and customer base. 3Dent’s complementary services expand OPT’s ability to provide comprehensive solutions to customers operating in rapidly evolving markets such as offshore wind and offshore oil and gas. 3Dent Technology will operate under its current brand name as a wholly owned subsidiary of Ocean
OPT Announces PB3 PowerBuoy Contracts
Ocean Power Technologies, Inc. (NASDAQ: OPTT), a leader in innovative ocean energy solutions, has announced the signing of two new contracts with Enel Green Power Chile (EGP), a subsidiary of Enel Chile, part of the Enel Group, a multinational energy company and a leading global integrated electricity and gas operator. The combined value of the contracts exceeds US$1.9 million and includes the sale of a PB3 PowerBuoy and the development and supply of a state-of-the-art, turn-key integrated Open Sea Lab that will be OPT’s first deployment off the coast of Chile.The first contract with Enel
OPT and Saab Seaeye Partner
Ocean energy solutions provider Ocean Power Technologies, Inc. electric underwater robotic systems manufacturer Saab Seaeye Ltd, have entered a nonexclusive agreement to jointly develop and market solutions for autonomous underwater vehicle (AUV) and remotely operated underwater vehicle (ROV) charging and communications systems.“We see a strong potential in this cooperation, where Saab Seaeye’s market-leading underwater solutions become even more capable by the addition of OPT charging solutions for resident vehicle systems,” said Matt Bates, Head of Marketing & Sales at Saab
OPT Rolls Out New Products
Ocean energy solutions developer Ocean Power Technologies, Inc. has expanded its suite of complimentary products that leverage the core technology of the PowerBuoy, which include subsea batteries and a hybrid (liquid-fueled) PowerBuoy.George H. Kirby, President and Chief Executive Officer of OPT, said, “Our team has been working diligently to identify opportunities to leverage our technologies to address the needs of current and potential customers in subsea environments. These new product offerings provide OPT with the means to better serve customers by expanding its product and service offerings
February 2024
