Ocean Power Technologies Inc (NYSE-A:OPTT) said on Monday it has been awarded a contract to supply multiple unmanned surface vehicles to Allied Forces.
The agreement, which includes the delivery of WAM-V vehicles, integrated sensors, and operational services under a contractor-owned, contractor-operated model, is scheduled for fulfillment in late spring 2025.
The deal builds on recent commercial traction for OPT’s unmanned vehicles and PowerBuoy systems, which have been deployed in autonomous maritime domain awareness, counter-unmanned underwater vehicle efforts, and mine countermeasure operations across North America, Latin America, and the Middle East.
“We believe this agreement is further proof that our systems form an important part of building out the future of ocean security,” said OPT CEO Philipp Stratmann.
“Using highly adaptable and attritable unmanned surface vehicles, like our WAM-V, is a cost-efficient force multiplier for surface and seabed warfare efforts for the US Government and other Allied Forces.”
Stratmann added that the dual-use nature of the company’s technologies enables OPT to serve a broad range of customers across both defense and commercial sectors.
OPT specializes in low-carbon marine power, data, and service solutions for defense, security, and environmental applications.