Ocean Power Technologies Inc (NYSE-A:OPTT) told investors it has entered into a service partnership with 3B General Trading & Contracting to explore offshore energy and maritime industry projects in Kuwait.
The agreement will involve deploying the company’s WAM-V autonomous and unmanned surface vehicles and its Next Generation PowerBuoys equipped with AI-powered Merrows technology.
"As we continue our growth, we are excited to continue our expansion in the Middle East,” chief executive Philipp Stratmann said in a statement.
“The offshore energy and maritime industry market in Kuwait continues to grow and we believe our PowerBuoys and WAM-V unmanned surface vehicles coupled with AI Merrows solutions provide operators the tools to generate offshore energy and ocean intelligence more effectively, safely, and efficiently.”