Ocean Power Technologies Inc (NYSE-A:OPTT) announced it has signed four new reseller agreements for its intelligent maritime solutions which will support global critical services.
The company said the agreements include opportunities for partnering with allied nations in areas such as the South China Sea and previously announced efforts to serve commercial markets in Latin America and the Middle East.
The company believes these partnerships will allow it to proactively serve the demand for its autonomous maritime technologies.
“We are excited to continue seeing growing demand in the global commercial markets and pull from allies in the defense community,” OPT CEO Philipp Stratmann said in a statement.
“We believe these partnerships will further accelerate our growth and drive additional revenue streams.”
OPT delivers intelligent maritime solutions that enhance safety, efficiency, and sustainability for defense, security, oil and gas, science, research, and offshore wind sectors. This includes Merrows, which offers seamless AI integration for Maritime Domain Awareness Systems across platforms.