MONROE TOWNSHIP, N.J., February 14, 2024 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”) is an innovative, cost-effective, low-carbon A leader in the ocean. The company, which provides power, data and services solutions, today announced that it has received funding from the Naval Postgraduate School (NPS) in Monterey, California for his one-year deployment of the PowerBuoy® to Monterey Bay. Announced.
PowerBuoy® integrates OPT’s Marine Domain Awareness System (MDAS) with cutting-edge satellite communications and AT&T 5G technology to demonstrate persistent surveillance and communications capabilities in the marine environment. This deployment is a significant milestone in maritime technology and demonstrates the potential of standalone maritime infrastructure nodes to support the diverse operational needs of the joint force.
This project will be an integral part of a series of NPS field experiment exercises. The aim is to explore and exploit the value that such autonomous maritime infrastructure can offer, particularly in enhancing situational awareness and communication capabilities for maritime operations.
Additionally, this installation marks the first time AT&T cellular technology has been installed on one of OPT’s commercially proven ocean buoys. This progress is a testament to the continued collaboration between OPT and AT&T. This collaboration began with the SLAMR initiative at NPS and has now evolved into a focused effort to enable AT&T’s pioneering 5G At Sea initiative.
Philipp Stratmann, CEO of Ocean Power Technologies, commented on this important partnership: “We are excited to see our PowerBuoy® technology used in such an innovative way. This deployment demonstrates the versatility and reliability of our system in difficult marine environments. “This is also an important step in our collaboration with AT&T, a testament to our commitment to innovation and ability to adapt to the evolving needs of maritime surveillance and communications.”
This effort is expected to establish new standards in maritime technology and communications and pave the way for future advances in ocean-based platforms and their applications in various fields.
For more information about Ocean Power Technologies and its innovative solutions, please visit our website: Ocean Power Technologies
about Ocean Power technology:
OPT provides intelligent marine solutions and services that enable safer, cleaner and more productive offshore operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy® platform provides clean, reliable power and real-time data communications for remote offshore and subsea applications. We also offer WAM-V® Autonomous Surface Vessel (ASV) and marine robotics services. Our corporate headquarters are located in Monroe Township, New Jersey, with additional offices in Richmond, California. For more information, please visit www.OceanPowerTechnologies.com.
Forward-looking statements
This release may contain forward-looking statements that fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include words such as “may,” “will,” “intend,” “likely,” “believe,” “expect,” “continue,” and “anticipate.” , “estimate,” “intend,” “plan,” “contemplate,” “aim,” “future,” “purpose,” “,” “goal,” “plan,” “should,” “seek.” ‘, and similar expressions or variations of such expressions. These forward-looking statements reflect our current expectations regarding our future plans and performance. These forward-looking statements are based on a number of assumptions and estimates that may prove inaccurate and are subject to risks and uncertainties. actual results, including the ultimate effectiveness and performance of the integration of Powerbuoy®, OPT’s Ocean Domain Awareness System satellite communications, and AT&T 5G technologies, will differ materially from those anticipated or expressed in the forward-looking statements we make; There is a possibility. For more information on these risks and uncertainties, please refer to our most recent Forms 10-Q and 10-K and subsequent filings with the Securities and Exchange Commission. The Company disclaims any obligation or intention to update any forward-looking statements to reflect events or circumstances after the date of this release.
contact address
Investor: 203-561-6945 or OPTT@investor.morrowsodali.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
