Ocean Power Technologies Completes Operation with Multiple Unmanned Surface Vehicles for US Government

Core Insights - Ocean Power Technologies, Inc. has achieved a significant contractual milestone by completing operations of multiple WAM-Vs for a U.S. Government Department, allowing for immediate revenue recognition [1][2] - The CEO of OPT, Philipp Stratmann, highlighted the importance of this milestone, emphasizing the utility of their unmanned surface vehicles and the skills of their operators, and expressed optimism for future operations [2] Company Overview - Ocean Power Technologies specializes in innovative low-carbon marine power solutions, providing services for various sectors including defense, oil and gas, science and research, and offshore wind [3] - The company's PowerBuoy® platforms deliver clean electric power and real-time data communications for remote maritime and subsea applications, alongside WAM-V® autonomous surface vessels and marine robotics services [3] - The headquarters of the company is located in Monroe Township, New Jersey, with an additional office in Richmond, California [3]