Ocean Power Technologies Inc (NYSE-A:OPTT) announced the signing of a strategic reseller agreement with Elektron SAS, a Colombia-based company specializing in hydrographic and oceanographic instrumentation.
As part of the agreement, Elektron has committed to $4 million in purchases of OPT’s intelligent maritime solutions, including its WAM-V USVs, PowerBuoy, and AI-driven Merrows platform.
The deal strengthens OPT’s presence in Latin America by leveraging Elektron’s regional network, the company said in a statement.
Philipp Stratmann, Ocean Power Technologies CEO, highlighted that the deal builds on existing momentum in the region as the company advances its broader goal of global expansion via strategic partnerships.
“This agreement represents another key step forward in continuing to scale OPT’s global reseller network and unlocking additional high-growth markets,” Stratmann said.
“Elektron’s expertise and trusted position in the region provide a strong channel to deploy our intelligent maritime solutions for our customers across the energy and security industries.”