Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) has announced the launch of a new Maritime Domain Awareness solution Merrows.
The New Jersey-based provider of intelligent maritime solutions and services said Merrows is its consolidated solution offering comprehensive ocean surveillance.
Maritime Domain Awareness refers to the collection and transmission of data relating to all aspects of, on, under, adjacent to, or bordering a sea, ocean or other navigable waterway, which is a complex challenge.
To address this challenge, OPT’s solution involves the deployment of command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance systems. These systems will be integrated into the company's roaming technologies, such as its Wave Adaptive Modular Vessel (WAM-V), and resident technologies, like its PowerBuoys.
The Merrows launch is not just an overarching solution but represents a pivotal shift in how ocean protection is viewed, according to OPT CEO Philipp Stratmann.
“Ocean security is national security, and through Merrows, OPT is dedicated to providing the technologies and insights necessary to secure our maritime domains,” Stratmann said.
“The combination of our roaming and resident solutions, and our capabilities as a system of system provider, enable the use of predictive analytics and artificial intelligence for Maritime Domain Awareness.”
The company also announced that it Stratmann and CFO Bob Powers will present at the AI & Technology Hybrid Investor Conference presented by Water Tower Research and hosted by Virtual Investor Conferences at 11.30am Eastern Time on Wednesday, April 10, 2024.
Investors can register for the event here.