Ocean Power Technologies Receives Funding for AT&T 5G-Enabled PowerBuoy® Deployment in Monterey Bay
14 Février 2024 - 2:15PM
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 that it
has received funding from the Naval Postgraduate School (NPS) in
Monterey, California, for the year-long deployment of a PowerBuoy®
in Monterey Bay.
The PowerBuoy®, integrating OPT's Maritime Domain Awareness
System (MDAS) along with cutting-edge Satellite communication and
AT&T 5G technology, will demonstrate its persistent
surveillance and communications capacities in a maritime
environment. This deployment marks a significant milestone in
maritime technology, showcasing the potential of standalone at-sea
infrastructure nodes to support the Joint Force's diverse
operational needs.
This project will be an integral part of a series of NPS Field
Experimentation exercises. It aims to explore and exploit the value
that such autonomous at-sea infrastructure can provide,
particularly in enhancing situational awareness and communication
capabilities for maritime operations.
Furthermore, this deployment signifies the first installation of
AT&T cellular technology on one of OPT's commercially proven
ocean buoys. This advancement is a testament to the ongoing
collaboration between OPT and AT&T, which began with the SLAMR
initiative at NPS and has now evolved into a focused effort to
enable AT&T's pioneering 5G At Sea initiative.
Philipp Stratmann, CEO of Ocean Power Technologies, commented on
this significant collaboration: "We are excited to see our
PowerBuoy® technology being used in such a groundbreaking way. This
deployment not only demonstrates the versatility and reliability of
our systems in challenging marine environments but also marks a
significant step in our collaboration with AT&T. It's a
testament to our commitment to innovation and our ability to adapt
to the evolving needs of maritime surveillance and
communication."
This initiative is expected to set new standards in maritime
technology and communications, paving the way for future
advancements in ocean-based platforms and their applications in
various fields.
For more information about Ocean Power Technologies and their
innovative solutions, 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. Actual results, including the ultimate efficacy and
performance of the integration of the Powerbuoy®, OPT's Maritime
Domain Awareness System Satellite communication and AT&T 5G
technology, 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 OPTT@investor.morrowsodali.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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