Ocean Power Technologies Expands in Latin America with Reseller Agreement in Costa Rica

By theamericannews
2 months Ago

30 Julho 2024 – 9:00AM

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, is thrilled to announce
the signing of a reseller agreement with Geos Telecom, a prominent
provider of maritime communication and navigation solutions in
Costa Rica. This partnership marks a significant expansion of OPT’s
presence in the Latin American market and includes the immediate
sale of a WAM-V (Wave Adaptive Modular Vessel) with anticipated
near-term continued growth of PowerBuoy systems and WAM-V’s in
support of regional demand.

Philipp Stratmann, CEO of OPT, commented on the new partnership:
“We are excited to collaborate with Geos Telecom as our strategic
reseller in Costa Rica. We believe this agreement not only enhances
our footprint in Latin America but also enables us to deliver
advanced USV capabilities to a new customer base. The immediate
sale of a WAM-V underscores the growing demand for our technology
and supports our mission to provide innovative solutions for safer,
cleaner, and more productive ocean operations.”

For additional information about OPT and its services, please
visit our website Ocean Power Technologies. For more details about
Geos Telecom and its offerings, please visit their website Geos
Telecom.

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. The Company’s headquarters is in Monroe
Township, New Jersey, with an additional office in 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, including the potential success with our new
partner, Geos Telecom, the delivery of customers services and the
conversion of potential customers to contracts and the realization
of the potential revenue thereunder. 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.