Ocean Power Technologies announced it has been awarded a contract for immediate delivery of a PowerBuoy equipped with Merrows, its Artificial Intelligence capable Maritime Domain Awareness Solution, in the Midde East. This contract will generate revenues in the current quarter. Due to the confidential nature of the award, details are not being disclosed. Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this revenue generating contract, stating, “We are continuing to grow our business across all our solutions, WAM-Vs and PowerBuoys. We believe this shipment for a solar and wind powered system highlights our ability to service almost all marine environments across the globe. Offering proven technology solutions makes it easy for our potential customers to integrate additional WAM-Vs and PowerBuoys into their operations and to put ocean intelligence into their hands.”
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