Ocean Power Technologies expands maritime system deployments

Ocean Power Technologies Inc. (NYSE American: OPTT) has increased its PowerBuoy deployments from one to five concurrent systems in the United States, the company announced. The expansion includes three systems supporting U.S. Department of Homeland Security activities, one system for Department of War research for the U.S. Navy, and one deployment at a U.S.-based research institution.

The Monroe Township, New Jersey-based company also operates internationally with three WAM-V autonomous surface vehicles and one PowerBuoy deployed in the United Arab Emirates. Additional WAM-V deployments support customer activities in Taiwan and other regions.

Ocean Power Technologies is displaying its WAM-V platform at Special Operations Forces Week in Tampa, an annual event for the global Special Operations Forces community. The company provides maritime solutions for defense, oil and gas, research, and offshore wind markets.

The information comes from a company press release statement.

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