Contract Award with WildAid and Caribbean Law Enforcement; Secures $1.6 Million Order from Sulmara
Ocean Power Technologies entered a contract with WildAid and Caribbean Law Enforcement to provide a WAM-V 16 Uncrewed Surface Vessel (USV) equipped with an integrated quadcopter aerial drone that should help in protecting vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats. OPT and WildAid and Caribbean Law Enforcement are teaming up to use unmanned surface and aerial vehicles to identify, track, and gather information on people who are harming marine life and ecosystems through illegal activities. Additionally, the company also received an additional volume order from Sulmara worth $1.6 million, a prominent player in offshore services, of WAM-V 16 uncrewed surface vehicles (USVs), making this the largest single order of WAM-Vs to date. The WAM-V 16, a highly versatile and capable vessel, should help Sulmara revolutionize marine data collection. Its adaptability to different marine environments and applications, combined with its unmatched reliability, maneuverability, and modularity, should enable Sulmara to conduct remote marine operations more effectively than ever before. This partnership represents a significant step forward in the fight against illegal fishing and the protection of marine life in vital habitats. OPT’s uncrewed technologies, coupled with the expertise of WildAid and Caribbean Law Enforcement, should contribute to the preservation of marine ecosystems and the prevention of IUU fishing activities, which pose a significant threat to the environment. Ocean exploration and research are essential for understanding and managing the ocean, but they are also expensive and time-consuming. OPT’s technology can help overcome these challenges by providing a low-cost and efficient way to collect data from the ocean. OPT is working with developing countries and government agencies to pilot its technology in MPAs, where the biggest challenge is monitoring, and these two contracts further solidify the commercial pipeline.Ocean Power Technologies is developing and commercializing its proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The company uses proprietary technologies that convert the mechanical energy created by the heaving motion of ocean waves into electricity. The company's principal product is its PB3 PowerBuoy?, which is designed to generate power for use independent of the power grid in remote offshore locations. It consists of a main hull structure loosely moored to the seabed and surrounded by a floating buoy-like device that can freely move up and down in response to the passage of the waves.
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