Ocean Power Technologies was recently awarded three separate Indefinite Delivery, Indefinite Quantity Multiple-Award Contracts from the National Oceanic and Atmospheric Administration.
NOAA has selected OPT as one of several Multiple Award IDIQ contract holders to provide uncrewed maritime systems services to NOAA’s Office of Marine and Aviation Operations, Uncrewed Systems Operation Center.
These contracts have the potential to result in millions of dollars of revenue for OPT, and the ordering period is set to span three years, commencing on Sept. 1 and concluding on Aug. 31, 2026.
Under these contracts, OPT will bring its expertise to three crucial domains:
- Living marine resource surveys and research;
- Meteorological and oceanographic observations; and
- Ocean exploration and characterization.
OPT’s CEO Philipp Stratmann stated: “We are thrilled to be selected by NOAA for these significant and material contracts, which represent a pivotal moment in our company’s history. OPT is committed to pushing the boundaries of technology and innovation in the marine industry, and these contracts underscore our dedication to creating sustainable and effective uncrewed maritime systems and our capacity to deliver innovative and efficient solutions. We look forward to working closely with NOAA to achieve our shared goals of environmental stewardship and scientific advancement — while also generating value for our company and our shareholders in the process.”
