Ocean Power Technologies Unveils Autonomous Surface Surveillance Solution for Offshore Territorial Applications
July 08 2020 - 9:00AM
Ocean Power Technologies, Inc. (“OPT” or “the Company”)
(NASDAQ: OPTT), a leader in innovative and cost-effective ocean
energy solutions, today announced the availability of its
PowerBuoy® Surface Surveillance Solution suitable for security
monitoring of offshore areas.
“Our team is redefining real-time ocean surveillance with a
solution that agencies and companies can utilize to better
coordinate security efforts at sea by integrating state-of-the-art
security sensors and software with our autonomous PowerBuoys®.”
said George H. Kirby, President and Chief Executive Officer of OPT.
“We believe we are introducing a transformative solution that is
scalable from a single unit for protecting and monitoring isolated
marine assets, to multiple integrated units for governments seeking
to secure extensive territorial waters.”
A single OPT Surface Surveillance Solution can monitor more than
1600 square miles of ocean surface on a permanent or temporary
basis, with the ability to seamlessly link multiple surveillance
assets together over large ocean areas giving end-users visibility
into potentially damaging environmental or illegal activities.
Customized solutions are also available including the addition of
subsea sensors to monitor for acoustic signatures, tsunami
activity, and water quality.
OPT’s Surface Surveillance Solution payload consists of a high
definition radar, gyro-stabilized high definition optical and
thermal imaging cameras, vessel automatic identification system
(AIS) detection, and integrated command and control software,
paired with OPT’s autonomous PB3 PowerBuoy® or hybrid PowerBuoy® as
a power and communications platform. Capabilities include 24/7
vessel tracking – including “black ships” which do not broadcast an
AIS signal – automatic radar plotting and vessel warnings, and high
definition optical and thermal video surveillance which can be used
as evidence to aid in prosecution.
Data from the OPT Surface Surveillance Solution is transmitted
to shore-based command stations via WiFi, cellular, mesh, and/or
satellite systems, depending upon location. Surveillance data
easily integrates with readily available marine monitoring software
to provide command and control capabilities of a multi-buoy
surveillance network. The data can also be integrated with
satellite, and terrestrial data feeds to form a detailed surface
and subsea picture of a monitored area. OPT is actively marketing
its Surface Surveillance Solution to governments, non-government
organizations, and companies in locations throughout the world.
About Ocean Power TechnologiesHeadquartered in
Monroe Township, New Jersey, OPT aspires to transform the world
through durable, innovative, and cost-effective ocean energy
solutions. Its PowerBuoy® solutions platform provides clean and
reliable electric power and real-time data communications for
remote offshore and subsea applications in markets such as offshore
oil and gas, defense and security, science and research, and
communications. To learn more, visit
www.oceanpowertechnologies.com.
Forward-Looking StatementsThis 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 which could be inaccurate, and which
are subject to risks and uncertainties. Actual results 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 SEC for a 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: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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