OPT Bags $1M Contract from US Navy for Autonomous Maritime Tech

Ocean Power Technologies (OPT) been awarded a follow-on contract valued at $1 million to further advance the operational capability of its autonomous maritime technologies to support the U.S. military and its allies.

OPT secured the follow-on contract as a subcontractor to EpiSci after the successful 12-month demonstration of its autonomous surface vehicle technologies during the Mission Autonomy Proving Grounds (MAPG) as part of Project Overmatch.

With this award, OPT will continue to ruggedize and enhance its operational capability of its autonomous maritime technologies to support the U.S. military and its allies.

This should enable a system of systems (SoS) commercial off-the-shelf offering that will penetrate the maritime environment with scalable and attritable, full spectrum, unmanned solutions. The first set of exercises have already been concluded, leading to immediate revenue recognition.

“We are thrilled to have been awarded this contract, which is a testament to the strength and innovation of our technology. We believe our participation in Project Overmatch has been a pivotal step in demonstrating how our solutions can significantly enhance the operational capabilities of the U.S. Navy,” said Philipp Stratmann, CEO of Ocean Power Technologies.