Ocean Power Technologies (OPT) has completed a major contractual milestone for a Department of the US Government.
The company concluded operation of several simultaneously deployed Wave Adaptive Modular Vessel (WAM-V) unmanned surface vehicles (USV).
This milestone enables immediate revenue recognition and builds on other recent multi-system deliveries and contract awards.
Philipp Stratmann, CEO and President of OPT, said; “The completion of this operation is testament to the utility of our unmanned surface vehicles and the skills of our operators. We look forward to future operations and generating incremental value for our customers and shareholders.”
