Ocean Power Technologies Awarded Contract with Department of Homeland Security Science and Technology Directorate on Maritime Domain Awareness – Sensors (MDA-S) Initiative
October 05 2022 - 8:00AM
Ocean Power Technologies, Inc. ("OPT" or "the
Company") (NYSE American: OPTT), a leader in innovative and
cost-effective low-carbon marine data, power, and consulting
service solutions, has been selected for a $529,025 procurement by
Amentum Services. OPT was awarded the procurement to assist Amentum
in providing the Department of Defense (DoD) Information Analysis
Center (IAC) with land, air, space, and port & coastal
surveillance services in support of the U.S. Department of Homeland
Security (DHS) Science & Technology Directorate (S&T).
OPT’s efforts under the Subcontract will include
providing scientific hardware delivery, training, and integration
services for DHS S&T Port and Coastal Surveillance (P&CS)
projects. The P&CS project seeks to identify and integrate
sensors and systems and share data suitable for the full spectrum
of maritime operations. OPT will provide the required hardware,
hardware deployment support, software, software deployment support,
integration services, surveillance and telemetry data, and
associated training in support of a PB3 PowerBuoy® equipped with
OPT’s proprietary Maritime Domain Awareness solution. The Maritime
Domain Awareness Solution is deployed in support of security
efforts to detect illegal, unreported, and unregulated (IUU)
fishing, dark vessels, and human/drug trafficking in operation
24/7/365.
(IMAGE: OPT’s PB3 PowerBuoy® equipped
with proprietary Maritime Domain Awareness solution.)
“We at OPT are proud to support DHS’s mission to
help secure the nation’s coastlines,” said Philipp Stratmann,
President and Chief Executive Officer of OPT. “Ocean security is
national security. We believe OPT’s systems are well suited for
long term maritime domain awareness deployments and have little to
no adverse impact on the environment. DHS has thousands of miles of
coastline to protect, and needs to develop detailed, sustainable
information sources to execute on its mission to protect our
country. Along with our partner, Amentum, we look forward to
delivering new technology to DHS to help it achieve these
goals.”
About the DoD IAC Program:The
DoD IAC, sponsored by the Defense Technical Information Center,
provides technical data management and research support for DoD and
federal government users. Established in 1946, the IAC program
serves the DoD science & technology (S&T) and acquisition
communities to drive innovation and technological developments by
enhancing collaboration through integrated scientific and technical
information development and dissemination for the DoD and broader
S&T community.
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 through our wholly owned subsidiary Marine
Advanced Robotics. We are headquartered in Monroe Township, New
Jersey, and have offices in Houston, Texas, and 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 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 InformationInvestors:
609-730-0400 x401 or InvestorRelations@oceanpowertech.com Media:
609-730-0400 x402 or MediaRelations@oceanpowertech.com
Disclaimer: This material is based upon work
supported by the DoD Information Analysis Center Program (DoD IAC),
sponsored by the Defense Technical Information Center (DTIC) under
Contract No. FA807518D0014/FA807520F0084.
Approved for Public Release, Distribution
Unlimited: Any opinions, findings and conclusions or
recommendations expressed in this material are those of the
author(s) and do not necessarily reflect the views of the DoD.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fe4c753e-1750-47a4-8004-ee8d7eaa7585
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