Ocean Power secures multi-buoy letter contract with $6.5M ceiling

Ocean Power Technologies received a letter contract from a US based prime contractor for multiple maritime domain awareness buoys advancing our commitment to national security and intelligence. This collaboration between OPT and the prime contractor will focus on providing multidomain marine solutions in support of US government agencies. OPT’s PowerBuoy’s will play a pivotal role in enhancing surveillance capabilities above and below the waterline, contributing significantly to maritime domain awareness initiatives. The current contract enables OPT to advance the preparation of multiple of its Next Generation PowerBuoy systems with definitization to be received.