AI-equipped Buoy to be Delivered in the Middle East
Ocean Power Technologies (OPT) has been selected as the preferred supplier for a PowerBuoy equipped with Merrows, its artificial intelligence (AI) capable maritime domain awareness solution, for an immediate delivery opportunity in the Middle East. This contract, once finalized, will generate revenues in the current quarter.
AI-equipped buoy to be delivered in the Middle East
The company had previously announced the completion of engineering for Merrows in hot climates. This development is a significant milestone for OPT, as it demonstrates the company’s ability to adapt its technology to operate in challenging environmental conditions.
“In addition to the material growth of our WAM-V business, we are excited to continue growing our PowerBuoy business,” said Philipp Stratmann, CEO and President of OPT. “We believe that the Middle East offers a lot of opportunities for Merrows, and we look forward to further growth in the region. Offering proven technology solutions makes it easy for our potential customers to integrate additional WAM-Vs and PowerBuoys into their operations.”
The Middle East is a strategic region for OPT, and this contract is a significant step forward for the company’s growth plans. With its AI-equipped buoy, OPT is well-positioned to capitalize on the growing demand for maritime domain awareness solutions in the region.
The Middle East is a strategic region for OPT
The use of AI in maritime domain awareness is a rapidly growing trend, and OPT is at the forefront of this development. The company’s Merrows solution is designed to provide real-time monitoring and analysis of maritime activity, enabling customers to make informed decisions about their operations.
The use of AI in maritime domain awareness is a rapidly growing trend
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