OPT to Deliver AI-equipped Buoy in the Middle East

Marine power, data, and service solutions company Ocean Power Technologies (OPT) announced it has been selected as preferred supplier for a PowerBuoy equipped with Merrows, its artificial intelligence (AI) capable maritime domain awareness solution, for an immediate delivery opportunity in the Midde East. This contract, once finalized, will generate revenues in the current quarter. Due to the confidential nature of the award, details are not being disclosed.

The company had previously announced the completion of engineering for Merrows in hot climates.

Philipp Stratmann, CEO and President of OPT, said, "In addition to the material growth of our WAM-V business, we are excited to continue growing our PowerBuoy business. We believe that the Middle East offers a lot of opportunities for Merrows, and we look forward to further growth in the region. Offering proven technology solutions makes it easy for our potential customers to integrate additional WAM-Vs and PowerBuoys into their operations.”