Ocean Power Technologies Inc (NYSE-A:OPTT) said Wednesday it has achieved Cybersecurity Maturity Model Certification (CMMC) Level 2 compliance, a designation required for defense contracts involving Controlled Unclassified Information.
The certification allows the company to pursue US Department of War contracts and other federal programs with cybersecurity requirements tied to the protection of sensitive information, OPT said.
"The cybersecurity requirements associated with defense programs continue to evolve, and meeting those requirements has become an important part of doing business with the US Government," said Jason Weed, senior vice president, commercial sales.
"Achieving CMMC Level 2 compliance reflects another investment in the capabilities our defense customers expect from their industry partners. As OPT continues to expand across maritime intelligence, autonomous systems, and maritime security, we believe that this milestone strengthens our ability to compete for new opportunities and support increasingly sensitive missions."
CMMC Level 2 compliance is required for an increasing share of Department of War contracts as the agency tightens cybersecurity standards across its industrial base, the company said.
OPT has been expanding its defense-related work, including deployment of autonomous maritime systems for US Government customers and partnerships with allied defense agencies.
Shares of OPT were trading nearly 6% higher on Wednesday morning in New York.