Ocean Power Technologies Partners with Unique Group for Autonomous Vehicle Services in the Middle East
02 Juli 2024 - 2:00PM
Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT”
or the “Company”), a leader in innovative and
cost-effective low-carbon marine power, data, and service
solutions, today announced it has partnered with Unique Group
(“Unique”), a UAE headquartered global innovator in subsea
technologies and engineering, offering multiple products and
services to customers in a range of industry sectors. Unique has
more than 600 employees and 20 operational bases around the world.
Unique Group and OPT will collaborate to deploy OPT’s existing
WAM-V Unmanned Surface Vehicles (“USV”) in the UAE and other
countries in the Gulf Collaboration Council (“GCC”) region.
Integrating OPT’s commercially available vehicles with Unique’s
leading position in the offshore energy industry in the UAE will
accelerate the adoption of USVs in the region. Unique Group’s
knowledge of the local industry and footprint in the region enables
maintenance and services to be carried out more efficiently.
Philipp Stratmann, OPT’s CEO, expressed his enthusiasm about
this partnership, stating, "Working with Unique Group will further
accelerate our efforts to deploy USVs globally. We are very excited
about the prospects of expanding into the UAE and applaud the local
industry’s forward thinking in adopting autonomous
technologies."
Jack Dougherty, Global Head of USV at Unique Group, added,
“Unique Group is excited to announce our strategic partnership with
Ocean Power Technologies (OPT). By leveraging our extensive
regional experience and advanced engineering capabilities, we are
committed to helping OPT develop a GCC-specific WAM-V 22. This next
generation vessel will be designed to meet the regions stringent
safety regulations while ensuring environmentally conscious and
efficient operations.”
For additional information about OPT and its services, please
visit our website Ocean Power Technologies.
ABOUT OCEAN POWER TECHNOLOGIES
OPT provides intelligent maritime solutions and services that
enable safer, cleaner, and more productive ocean operations for the
defense and security, oil and gas, science and research, and
offshore wind markets. Our PowerBuoy® platforms provide clean and
reliable electric power and real-time data communications for
remote maritime and subsea applications. We also provide WAM-V®
autonomous surface vessels (ASVs) and marine robotics services. The
Company’s headquarters is in Monroe Township, New
Jersey and has an additional office in Richmond,
California. To learn more,
visit www.OceanPowerTechnologies.com.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements that are
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
identified by certain words or phrases such as "may", "will",
"aim", "will likely result", "believe", "expect", "will continue",
"anticipate", "estimate", "intend", "plan", "contemplate", "seek
to", "future", "objective", "goal", "project", "should", "will
pursue" and similar expressions or variations of such expressions.
These forward-looking statements reflect the Company's current
expectations about its future plans and performance. These
forward-looking statements rely on a number of assumptions and
estimates that could be inaccurate and subject to risks and
uncertainties, including the ultimate commercial success of the
CUUV solution and the conversion of potential customers to
contracts and the realization of the potential revenue thereunder.
Actual results could vary materially from those anticipated or
expressed in any forward-looking statement made by the Company.
Please refer to the Company's most recent Forms 10-Q and 10-K and
subsequent filings with the U.S. Securities and Exchange Commission
for further discussion of these risks and uncertainties. The
Company disclaims any obligation or intent to update the
forward-looking statements in order to reflect events or
circumstances after the date of this release.
Contact Information
Investors: 203-561-6945 or investorrelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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