Ocean Power signs OEM agreement with Teledyne

Ocean Power Technologies (OPTT) announced the signing of an Original Equipment Manufacturer agreement with Teledyne Marine, a division of Teledyne Technologies Inc. (TDY), a key supplier in the maritime technology inclusive of connectors, instruments, and vehicles. This strategic partnership aims to enhance OPT’s product offerings and drive innovation within the industry providing customers with a turnkey system. Philipp Stratmann, CEO of OPT, expressed his enthusiasm on the partnership: “We are excited to join forces with Teledyne Marine. This agreement allows us to leverage Teledyne’s best-in-class offerings to deliver superior sensor and ocean technology products to our customers. Our shared commitment to excellence and innovation makes this a natural fit. We believe this partnership further accelerates our growth and enables additional revenue stream.”