Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the launch of its Global 24/7 Service Support which will offer its customers round-the-clock support.
The provider of intelligent maritime solutions and services said the new offering will allow its customers to access 24/7 support to maintain their operations around the globe.
It will also create an additional recurring revenue stream for the company which complements its existing products.
OPT is already servicing its AI-capable Maritime Domain Awareness Solutions Merrows in Latin America and Sub-Saharan Africa.
Customers have also been deploying its WAM-Vs Unmanned Surface Vehicles (USVs) in Asia, with additional deployments expected of its WAM-Vs and its PowerBuoys in the Middle East.
“Our customers have consistently asked us to propose services to them above and beyond warranties and guarantees. This new Services offering enables our customers to choose from a menu of options and determine the most cost-effective way to operate our PowerBuoys and USVs,” OPT CEO Philipp Stratman commented.
“It also positions us to add additional recurring revenues to our ongoing growth."