Ocean Power Technologies Enters New Market with WAM-V® Sale for a Mining Deployment in Latin America

Core Insights - Ocean Power Technologies, Inc. (OPT) has announced the sale of a Wave Adaptive Modular Vessel (WAM-V) to a new customer in Latin America, marking a significant expansion into the onshore mining industry [1][2] - This sale highlights OPT's commitment to delivering advanced autonomous surface vessel (ASV) technology to new sectors beyond its traditional markets [2][4] Company Developments - The WAM-V will be utilized for bathymetry surveys in the mining sector, showcasing its adaptability for both offshore and onshore applications [2][3] - CEO Philipp Stratmann emphasized that this sale represents a major milestone for OPT, reflecting the flexibility and reliability of the WAM-V platform for various missions and industries [3] - The WAM-V is recognized for its stability, lightweight design, and modular architecture, allowing for quick adaptation to diverse mission requirements [3] Market Trends - The transaction indicates a growing demand for autonomous maritime technologies in new sectors and regions, as OPT continues to expand globally [4] - The company remains focused on innovation and collaboration, aiming to help organizations leverage autonomy for improved operational efficiency [4]