Ocean Power Technologies Inc (NYSE-A:OPTT) announced that a customer engaged in the offshore energy service industry in Latin America has placed orders for multiple Wave Adaptive Modular Vessel (WAM-V) uncrewed surface vehicles (USVs) totalling $1.5 million.
The provider of intelligent maritime solutions and services said the WAM-Vs will be used in hydrographic applications.
It said the investment has highlighted OPT's continued expansion in the region and solidified its position as a leader in the marine robotics industry.
"We are thrilled to see the growing interest and confidence in our technologies, particularly from our strategic partners in Latin America,” OPT CEO Philipp Stratmann said.
“This order marks a pivotal moment for OPT, highlighting our continued commitment to delivering unparalleled solutions to the region that redefine possibilities in marine robotics."
New Jersey-headquartered OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets.