Ocean Power Technologies (OPT), a leader in innovative ocean energy solutions, has announced a pivotal contract for the immediate delivery of a PowerBuoy equipped with Merrows, its advanced Artificial Intelligence capable Maritime Domain Awareness Solution. CEO Philipp Stratmann shared this development with Steve Darling from Proactive, noting that this contract, focused on deployment in the Middle East, is expected to generate revenues within the current quarter.
Stratmann highlighted that this contract builds on the company’s previous announcement of its selection as a preferred supplier for its Merrows-equipped buoys in the region. This new revenue-generating contract underscores OPT’s continued business growth across all its product lines, including WAM-Vs (Wave Adaptive Modular Vessels) and PowerBuoys.
Discussing the strategic importance of this shipment, which features a solar and wind-powered system, Stratmann emphasized that it demonstrates OPT’s capability to provide robust and versatile solutions capable of servicing a wide range of marine environments globally. The deployment of this AI-enhanced PowerBuoy not only strengthens OPT's presence in the Middle East but also exemplifies its commitment to delivering advanced maritime technology solutions worldwide.
