Monday, July 15News That Matters

Ocean Power Technologies Secures Contract for WAM-V to Offshore Contractor in Sub-Saharan Africa

–News Direct–

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to announce that the company has secured a contract to deliver a WAM-V (Wave Adaptive Modular Vessel) to an Offshore Construction Contractor. The contract entails providing a spare vehicle system that can be assembled onsite. This WAM-V will be utilized to provide survey services for an offshore dredging project in Sub-Saharan Africa.

Stratmann highlighted that this award builds on the recent commercial success of OPTs vehicles in the offshore construction and energy industries. The contract also supports the company's recent expansion into Latin America, a region with a vibrant offshore energy industry. Additionally, the company is exploring the potential for ocean security applications.

This contract marks a significant milestone for Ocean Power Technologies, reinforcing its position in the global offshore market and demonstrating the growing demand for its innovative WAM-V technology. The company's strategic focus on expanding its geographical footprint and diversifying its applications underscores its commitment to driving growth and delivering advanced solutions for offshore operations.

Contact Details

Proactive North America

+1 604-688-8158

NA-editorial@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/ocean-power-technologies-secures-contract-for-wam-v-to-offshore-contractor-in-sub-saharan-africa-356037888

Ocean Power Technologies Inc

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