Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it is implementing Palantir Foundry to support the expansion of its autonomous maritime systems and services.
The platform will be used to provide greater visibility across Ocean Power Technologies’ operations, including manufacturing, supply chain management, deployment, fleet operations, maintenance and customer support.
The company has engaged Foxtrot Professional Services, a Palantir Foundry partner, to lead the implementation through the Palantir for Builders program.
Ocean Power Technologies said the initiative is intended to help it move from individual deployments toward more repeatable delivery of its autonomous maritime systems as its US and international footprint expands. Foxtrot will connect data and workflows across the company’s operations and establish governed processes for day-to-day decision-making.
“Scaling autonomous maritime systems requires more than building additional vehicles and platforms. It requires the infrastructure to deploy, operate and support those systems reliably at increasing volume,” Ocean Power Technologies CEO Philipp Stratmann said.
“Palantir Foundry gives us a powerful foundation to connect our operations and make faster, data-driven decisions as we scale.”
Stratmann added that the company has already begun linking existing records to the Foundry platform and that working with Foxtrot is intended to accelerate the implementation.
Foxtrot Professional Services co-CEO Christine Williams added that Ocean Power Technologies is using artificial intelligence across areas including national security, offshore operations and marine research.
“The ocean is the next great frontier for autonomy, and OPT is using AI to redefine national security, provide zero-emission power source for offshore operations and support marine research,” Williams said.
“We’re thrilled to partner with OPT to build the operating backbone to take these missions to the next level.”
Stratmann wrote that the project is aimed at establishing infrastructure that can support greater scale over time, describing the implementation as another step toward a more integrated maritime technology business.
Shares of OPT gained over 15% on Thursday.