Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to announce a significant new partnership with $3 million in purchase order commitments over the next 36 months in Latin America. This new agreement adds $1.5 million to previously announced purchase orders in the region, marking another milestone in the company’s growth strategy.
The WAM-V USVs, known for their advanced technology and adaptability, will be deployed for hydrographic applications. Their versatility and reliability provide a multi-application solution tailored to customer needs.
This landmark order reflects the increasing demand for OPT's innovative solutions and reinforces its leadership in the maritime artificial intelligence robotics industry. Stratmann highlighted that this partnership builds on OPT’s expanding footprint in Latin America and reaffirms the company’s dedication to delivering groundbreaking solutions that redefine marine AI possibilities in the region.
He also shared the company's record-breaking revenue for 2024, attributing this success to converting backlogs into revenues. Stratmann expressed confidence in achieving profitability by the end of calendar 2025, calling it an exciting time for the company.