Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has signed a reseller agreement with Geos Telecom, a maritime communication and navigation solutions provider based in Costa Rica.
The deal includes the immediate sale of a Wave Adaptive Modular Vessel (WAM-V), the company said.
It added that the partnership marks a “significant” expansion of its presence in the Latin America market.
"We are excited to collaborate with Geos Telecom as our strategic reseller in Costa Rica. We believe this agreement not only enhances our footprint in Latin America but also enables us to deliver advanced unmanned surface vehicle (USV) capabilities to a new customer base,” OPT CEO Philipp Stratmann said.
“The immediate sale of a WAM-V underscores the growing demand for our technology and supports our mission to provide innovative solutions for safer, cleaner, and more productive ocean operations."
OPT is a provider of intelligent maritime solutions and services to the defense and security, oil and gas, science and research, and offshore wind markets.