Ocean Power Technologies Chosen as Preferred Supplier for Middle East PowerBuoy Project

Ocean Power Technologies (OPT) has been designated as the preferred supplier for a PowerBuoy project equipped with Merrows, its Artificial Intelligence-capable Maritime Domain Awareness Solution, in the Middle East. This selection is poised to generate revenues in the current quarter upon the finalization of the contract. Notably, the company has previously completed engineering for Merrows to function effectively in hot climates.

Philipp Stratmann, CEO of Ocean Power Technologies, shared this milestone announcement with Steve Darling from Proactive. Stratmann emphasized that this development is a testament to the company's expanding footprint in the PowerBuoy business. He pointed out that the Middle East region offers substantial opportunities for Merrows and the potential to integrate additional Wave Adaptive Modular Vessels (WAM-Vs) into their operations.

The strategic selection of Ocean Power Technologies for this project highlights the company's commitment to leveraging its cutting-edge maritime technologies to meet increasing demands in the Middle East. Such advancements not only bolster the company's market presence but also signify the growing relevance of AI and advanced maritime solutions in strategic geopolitical regions.

This move is expected to have a significant impact on the maritime industry, particularly in terms of enhancing maritime domain awareness through AI-driven solutions. By deploying the PowerBuoy with Merrows, Ocean Power Technologies aims to provide robust and reliable maritime monitoring and operational capabilities, which are crucial for the safety and efficiency of maritime activities in the Middle East.

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