Ocean Power Technologies, with the ticker symbol OPTT, is a maritime domain awareness company providing intelligent solutions for ocean operations.
CEO Philipp Stratmann discussed the company's unique proposition in data collection and transmission systems.
The recent $5 million contract with the Department of Homeland Security marks a significant milestone for Ocean Power.
Unique Proposition
OPTT offers autonomous ocean operations with a combination of buoys and unmanned surface vehicles for data collection.
DHS Contract
The $5 million contract with DHS signifies a major breakthrough for the company's technology and services.
Data Communication
The company utilizes buoys for data transmission, creating a persistently recharging system for ocean data collection.
- The DHS contract demonstrates trust in Ocean Power's systems and technology after years of testing and development.
- The integration of data feed into the Coast Guard system will enhance maritime security and operational efficiency.
Ocean Power Technologies is poised for growth with innovative solutions tailored for defense, security, oil and gas, and offshore wind industries.