Ocean Power Technologies Inc. announced Feb. 24 that it has received a $1.5 million purchase order from the United States Coast Guard to install and deploy buoy systems previously ordered.
This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions. The Monroe Township-based company expects this order to contribute to near-term revenues as installation and deployment activities commence.
Under the scope of work, Ocean Power will deploy, commission and operate activation to ensure the systems are fully integrated and mission ready. The buoys are expected to enter active service shortly following installation.
The systems are designed to provide persistent offshore presence, enhancing surveillance, situational awareness, and operational effectiveness in demanding maritime environments. Ocean Power’s responsibility spans manufacturing through installation and in-field support, ensuring continuity from delivery to operational performance.
Jason Weed, SVP Commercial Sales, noted “OPT’s expanding focus on defense and security has enabled us to engage more deeply with our customers, gain a clearer understanding of their evolving mission challenges, and deliver innovative solutions that were previously unavailable.
“This strategic emphasis is directly aligned with the updated doctrine of the U.S. Department of Homeland Security and the U.S. Department of Defense to further strengthen Homeland Defense.”
Ocean Power Technologies Inc. provides 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. Its PowerBuoy platforms are intended to provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications.
