Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed multiple offshore demonstrations for potential customers of its Artificial Intelligence capable Maritime Domain Awareness Solution, Merrows. These demonstrations were conducted using the recently deployed Next Generation PowerBuoy. Further demonstrations for additional potential customers, including overseas prime contractors, are already scheduled to occur over the next few weeks.
The successful field demonstrations put OPT into the unique position of showcasing the fully functional Intelligence, Surveillance, and Reconnaissance capabilities of the PowerBuoy, bypassing the need for lengthy paper studies and accelerating the sales cycle. Built with survivability and cybersecurity in mind, OPT can securely connect into this solution from anywhere in the world. In addition to generating actionable intelligence, the data can also be used as a feed into Large Language Models or other Advanced AI systems.
Philipp Stratmann, CEO and President of Ocean Power Technologies, expressed his enthusiasm about this milestone, stating, "There is no better tool to onboard new customers than to see our PowerBuoy based Maritime Domain Awareness Solution in its natural element, the open ocean. These field demonstrations truly highlight the advanced algorithms of the Merrows offering. They are helping us advance and accelerate our sales efforts and continue the revenue growth trajectory we have reported."
For additional information about OPT and its services, please visit our website Ocean Power Technologies.
Source: https://oceanpowertechnologies.com/