Ocean Power Technologies Inc (NYSE-A:OPTT) (OPT) announced it is shipping two WAM-V Unmanned Surface Vehicles (USV) to Remah International Group, a privately held company headquartered in the United Arab Emirates (UAE) with a focus on military services.
OPT said it is planning to expand its presence in the region with the establishment of a sales and operations office and related strategic hires.
"This shipment underscores how OPT’s proven, commercially available solutions deliver exceptional value by providing cost-effective resilient and persistent maritime security," OPT’s senior vice president of commercial sales Jason Weed said in a statement.
"With our AI-enabled ocean technologies already delivering results, we see tremendous opportunity to accelerate adoption and expand demand across the region."
Remah International, in its roles as OPT’s defense partner in the UAE, is expected to use these vehicles to highlight their expeditionary capabilities and ability for autonomous ocean operations, the company noted.