OPT Wins Multi-year NOAA ProTech Oceans IDIQ Contract

Marine power, data, and service solutions provider Ocean Power Technologies, Inc. (OPT)vannounced its selection as part of a team awarded the National Oceanic and Atmospheric Administration's (NOAA) Professional, Scientific, and Technical Services (ProTech) Oceans Domain Indefinite Delivery Indefinite Quantity (IDIQ) contract. This award positions OPT within avgroup of service providers supporting NOAA’s mission to understand and predict changes in climate, weather, oceans, and coasts.

Under the terms of the contract, OPT will contribute its advanced technologies, including the PowerBuoy systems and WAM-V autonomous surface vessels, to support NOAA’s research and operational missions. The contract has a minimum duration of five years, with an early potential of several million per year in revenue. The overall ProTech IDIQ has a ceiling of 8 billion providing ample opportunities to supply into NOAA.

Philipp Stratmann, CEO and President of Ocean Power Technologies, said, "We are honored to support NOAA's essential work in oceanic and atmospheric science. This contract is a testament to OPT’s commitment to delivering innovative and reliable solutions that can withstand the demanding conditions of marine environments. We look forward to working closely with NOAA to advance the understanding and sustainability of our oceans."

This IDIQ award is a mandatory-use vehicle for NOAA and may also be utilized by other bureaus within the U.S. Department of Commerce. It allows for a variety of contract types, including firm fixed price, cost reimbursement, and time and materials, providing flexibility in how services are delivered and managed.