Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed several offshore demonstrations of its artificial intelligence-capable maritime domain awareness solution Merrows for potential customers.
The intelligent maritime solutions and services provider said the demonstrations were conducted using the recently deployed Next Generation PowerBuoy in the North Atlantic Ocean.
According to OPT, successful field demonstrations allow it to showcase the PowerBuoy’s fully functional intelligence, surveillance, and reconnaissance capabilities while bypassing the need for lengthy studies, accelerating the sales cycle.
PowerBuoy is built with survivability and cybersecurity as key features, allowing customers to connect to this solution from anywhere in the world securely.
It can generate actional intelligence and data that can be used to feed into Large Language Models or other advanced AI systems, the company added.
"There is no better tool to onboard new customers than to see our PowerBuoy-based maritime domain awareness solution in its natural element, the open ocean,” OPT CEO Philipp Stratmann said.
“These field demonstrations truly highlight the advanced algorithms of the Merrows offering. They are helping us advance and accelerate our sales efforts and continue the revenue growth trajectory we have reported."
OPT added that further demonstrations for additional potential customers, including overseas prime contractors, are scheduled to occur over the next few weeks.