Ocean Power Technologies Inc (NYSE-A:OPTT) said on Friday it has secured a contract to supply a fully integrated WAM-V unmanned surface vehicle to an underwater research customer in the Nordic region.
The New Jersey-based company said the system will be assembled and shipped immediately, marking a further step in its expansion into Nordic markets, where it has been working with government and commercial end users.
The WAM-V (Wave Adaptive Modular Vessel) platform is designed for autonomous operations and is used in applications including ocean research, offshore inspections, and security missions.
Jason Weed, the company’s senior vice president of commercial sales, said the contract reflects growing demand across multiple sectors, including defense, security, and underwater survey work.
“Recent efforts globally, whether focused on defense and security, surface inspections, or autonomous underwater survey, are continuing to drive interest in our systems,” Weed told shareholders.
He added that the company continues to see increasing interest in its systems globally, with deployments spanning the United States, Latin America, the Middle East, and allied nations in Europe.
Ocean Power Technologies focuses on low-carbon marine power, data, and service solutions, supporting a range of offshore and subsea activities.