Ocean Power Technologies Inc (NYSE-A:OPTT) said it has signed a Memorandum of Understanding (MOU) with Brazil's Serviço Nacional de Aprendizagem Industrial (SENAI Innovation Institute for Virtual Production Systems from Firjan).
SENAI is a Brazilian organization that provides technical education and training for the industrial sector.
The partnership aims to explore opportunities in the Blue Economy, including the deployment of OPT’s WAM-V autonomous and unmanned surface vehicles and Next Generation PowerBuoys equipped with AI-capable Merrows.
"As we continue our growth, we are excited to partner with SENAI to explore supporting the development and deployment of ocean technologies into Brazil,” said Philipp Stratmann, CEO of OPT.
“The offshore energy market in Brazil continues to grow and we believe our PowerBuoys and WAM-V unmanned surface vehicles provide the next generation of operators the solutions to generate offshore energy more effectively and efficiently.”
New Jersey-based Ocean Power Technologies provides sustainable and cost-effective energy solutions for the marine environment.
Its portfolio includes autonomous systems designed to support data collection, environmental monitoring, and renewable energy generation for various sectors, including offshore oil and gas, defense, and telecommunications.