Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has completed its first sea trials of its WAV-V 22 autonomous surface vehicle for a customer with significant operations in Sub-Saharan Africa.
The trials were conducted at Ocean Power Technologies’ newly permitted test site in southern New Jersey, following site visits and operational reviews by the US Coast Guard.
The company said the trial confirmed the company’s ability to test its maritime solutions 24/7/365 on both the east and west coasts of the United States.
Philipp Stratmann, Ocean Power Technologies’ CEO, hailed the achievement as “a great step ahead” for the company.
“We are pleased that we have completed the sea trials of a WAM-V for a major specialized offshore services customer and were able to do so at our newly permitted test site,” Stratmann said.
“This now enables us to test year-round on either coast, making it easier for customers to receive their products and further decreasing the time from booking to revenue recognition."
Ocean Power Technologies provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for markets including defense and security, oil and gas, science and research, and offshore wind.