Ocean Power Technologies, Inc. Chosen as Preferred Supplier of AI-Capable Merrows Buoy

24 June 2024

Ocean Power Technologies PowerBuoy and WAM-V. (Image credit: OPT)

Ocean Power Technologies, Inc. (OPT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, has announced it has been selected as a preferred supplier for a PowerBuoy equipped with Merrows, its AI-capable Maritime Domain Awareness Solution for an immediate delivery opportunity in the Middle East. This contract, once finalized, will generate revenues in the current quarter. Due to the confidential nature of the award, details are not being disclosed.

The Company had previously announced the completion of engineering for Merrows in hot climates.

Philipp Stratmann, CEO and President of OPT expressed his enthusiasm about this revenue-generating selection, stating, “In addition to the material growth of our WAM-V business, we are excited to continue growing our PowerBuoy business. We believe that the Middle East offers a lot of opportunities for Merrows, and we look forward to further growth in the region. Offering proven technology solutions makes it easy for our potential customers to integrate additional WAM-Vs and PowerBuoys into their operations.”

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