Ocean Power Technologies completes contractual milestone for U.S. government

Monroe-based Ocean Power Technologies on Tuesday said it completed a major contractual milestone and concluded operation of several simultaneously deployed WAM-V unmanned surface vessels for a department of the U.S. government.

This milestone enables immediate revenue recognition, and builds on other recent multisystem deliveries and contract awards.

Philipp Stratmann, CEO and president of OPT, said the completion of this operation was testament to the utility of its unmanned surface vehicles and the skills of its operators.