OPT Secures Order for Fully Integrated WAM-V from a Major European Offshore Services Provider

17 March 2025

(Image credit: OPT)

Ocean Power Technologies, Inc. (OPT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, announced it has secured a contract from a new European Offshore Services Provider for a fully integrated WAM-V^® for near-term delivery. This contract expands the Company’s previously announced expansion into certain regions to the European Union, working with end customers and resellers. The vehicle will be assembled immediately and shipped to the customer. Training and services will be provided in-country.

Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this contract, stating, “Securing this contract is a testament to demand for our systems in the market. Recent efforts globally, whether focused on defense and security or autonomous survey and offshore construction, are continuing to drive interest in our systems. We continue to convert the pipeline to the backlog and deliver further growth. We look forward to future deliveries and additional opportunities to deploy our assets to our customer base here in the United States and to our partners in Latin America, the Middle East, and now also to the European Union and other allied nations.”