Ocean Power Technologies Awarded Contract to Provide Multiple Unmanned Surface Vehicles for International Defense Customer

Core Insights - Ocean Power Technologies, Inc. has been awarded a contract for multiple WAM-Vs for delivery to certain Allied Forces, which is expected to enhance the company's growth in the defense sector [1][2] - The contract includes the provision of vehicles, integrated sensors, and operators under a contractor-owned contractor-operated (COCO) model, with delivery scheduled for late Spring 2025 [1] - The CEO of OPT highlighted the significance of this contract as a validation of the company's role in ocean security and the cost-efficiency of its unmanned surface vehicles [3] Company Overview - Ocean Power Technologies specializes in innovative low-carbon marine power solutions, providing services across various sectors including defense, oil and gas, science and research, and offshore wind [4] - The company offers a range of products such as PowerBuoys for clean energy and real-time data communications, as well as WAM-V unmanned surface vehicles [4] - OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [4]