Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced that it has received an additional volume order valued at $1.6 million from Sulmara for multiple WAM-V 16 uncrewed surface vehicles (USVs), the largest single order of WAM-Vs to date.
The provider of ocean energy and intelligent data services said due to demand, production is already underway to support and will allow for revenue recognition this fiscal year.
"We are delighted to expand our partnership with Sulmara and provide them with our state-of-the-art WAM-V 16 uncrewed surface vehicles," OPT CEO Philipp Stratmann said in a statement.
"This order reflects our commitment to enhancing the efficiency and sustainability of offshore operations."
OPT noted the WAM-V 16 will bolster capabilities in various subsea applications, including hydrographic survey, remote inspections, UXO detections, and environmental monitoring, across many markets, including global offshore wind development.
The WAM-V 16, which is designed to adapt to various marine environments and applications, offers unmatched reliability, maneuverability, and modularity that empowers remote marine operations like never before and will enable Sulmara to continue to redefine the way that marine data is collected, according to the company.
Sulmara provides offshore survey services.
Ocean Power Technologies is a provider of ocean energy and intelligent data services through its innovative, low-carbon distributed and autonomous ocean power and data solutions, combined with its offshore engineering and design services.
Contact Sean at sean@proactiveinvestors.com