Ocean Power announces defense, security demonstrations in UAE

Ocean Power (OPTT) Technologies demonstrated its defense and security capabilities during NAVDEX in Abu Dhabi with Remah International Group. OPT and RIG conducted live demonstrations during NAVDEX of OPT’s WAM-V Unmanned Surface Vehicles, equipped with underwater sensors and capable of aerial drone integration, and exhibited its other capabilities including the Next Generation Powerbuoy, and the AI capable Merrows. OPT believes that these demonstrations and the resulting discussions focused on its commercially available solutions in partnership with RIG’s leading position in the UAE should result in opportunities for further growth in the region. These opportunities include autonomous anti-submarine warfare and mine counter measures support, national security applications, and maritime monitoring and intelligence solutions. OPT will provide additional updates as opportunities convert to backlog and revenues. Philipp Stratmann, OPT’s CEO, expressed his enthusiasm about the demonstration, stating, “We are very excited to have demonstrated our capabilities to current and potential customers during NAVDEX. Our team, led by Matt Burdyny, our Chief Commercial Officer, together with several of our highly skilled ASV operators, showcased that our commercially available products provide cost effective maritime security solutions. We believe that through these demonstrations we can materially accelerate the adoption of autonomous, resident, persistent, and AI-capable ocean security technologies in the region. We look forward to further expanding our presence in the UAE and continuing our work with RIG and other partners.”