I like the news in A/Hs today. I don't recall seeing this one below hitting IHUB on 25 Oct though. Saw it on market wire news tonight. This type of news will imo turn out to be a huge part of the business for them.
Ocean Power Technologies Awarded Contract with WildAid and Caribbean Law Enforcement to Combat Illegal Fishing with Uncrewed Technologies
Oct 25, 2023 at 8:15 AM EDT
| PDF Version
MONROE TOWNSHIP, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced they have entered a contract with WildAid and Caribbean Law Enforcement partners. This collaboration aims to protect vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies.
Under this new agreement, OPT will provide WildAid and their Caribbean Law Enforcement partners with an OPT WAM-V 16 Uncrewed Surface Vessel (USV) equipped with an integrated quadcopter aerial drone. This cutting-edge technology will empower law enforcement agencies and conservation organizations to safeguard marine life from illegal harvesting while ensuring the sustainability of these critical ecosystems.
WildAid, an organization dedicated to inspiring change and empowering the world to protect wildlife and essential habitats from critical threats, including illegal fishing, wildlife trafficking, and climate change, will play a pivotal role in this partnership. WildAid's work spans the globe, with innovative communications campaigns reaching millions of people in China, Southeast Asia, Africa, and the U.S., encouraging them to take action to protect endangered wildlife and reduce climate impacts.
The collaboration between OPT, WildAid, and Caribbean Law Enforcement will harness the power of uncrewed surface and air assets to identify, track, and collect data from individuals seeking to disrupt the pattern of life and threaten the environment through their illicit activities. These technologies will provide unprecedented, networked surveillance capabilities and evidence collection, allowing authorities to gather critical information and support legal actions while keeping personnel safely out of harm's way until the precise time and conditions favor interdiction efforts.
This partnership represents a significant step forward in the fight against illegal fishing and the protection of marine life in vital habitats. OPT's uncrewed technologies, coupled with the expertise of WildAid and Caribbean Law Enforcement, will contribute to the preservation of marine ecosystems and the prevention of IUU fishing activities, which pose a significant threat to the environment.
"Ocean Power Technologies is honored to work with WildAid and Caribbean Law Enforcement on this vital initiative," said OPT CEO and President, Philipp Stratmann. "Our uncrewed technologies are a game-changer in the fight against illegal fishing. This is a natural extension of our work in the defense and offshore energy markets, and we are proud to contribute to this crucial effort to protect marine species and their habitats. We believe these kinds of autonomous deployments will also be of great interest for applications such as border protection and homeland security."
Through this collaboration, Ocean Power Technologies, WildAid, and Caribbean Law Enforcement are determined to make a substantial difference in preserving marine life and critical habitats, setting an example for innovative conservation efforts worldwide.
For more information about Ocean Power Technologies, please visit: www.oceanpowertechnologies.com
For more information about WildAid, please visit: www.wildaid.org
About Ocean Power Technologies:
OPT, a leader in innovative and cost-effective, low carbon marine data, power, and consulting services, 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 (ASV) and marine robotics services through our wholly owned subsidiary Marine Advanced Robotics and strategic consulting services including simulation engineering, software engineering, concept design and motion analysis through our wholly owned subsidiary 3Dent. We are headquartered in Monroe Township, New Jersey, and have offices in Houston, Texas, and Richmond, California. To learn more, visit www.OceanPowerTechnologies.com.
WildAid is an international nonprofit organization dedicated to ending illegal wildlife trade, fighting climate change, and protecting our oceans. By inspiring change and strengthening effective enforcement efforts, WildAid is making a global impact in the preservation of our planet's most critical ecosystems.
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. 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.
$OPTT sweet multi year NOAA contract news in A/Hs trading. Great volume to accompany it too. Additionally they'll be presenting at the H.C. Wainwright & Co. 25th Annual Global Investment Conference on the 12th. These contracts announced today with NOAA should spark much interest among several others.Might just be time to kick the tires and light the fires! Could be time to congratulate those who waited patiently. Best to all!
$OPTT does seem that way Skinny. You must own common stock on 7/11/23 to qualify and then their 10k will be out on the 12th in the a/hs and conference call 09:00 hrs on the 13th. Maybe we'll get some idea of just what is coming or is already occurring?
$AVGR, Fintel reports that on April 21, 2023, HC Wainwright & Co. initiated coverage of Avinger (NASDAQ:AVGR) with a Buy recommendation.
Analyst Price Forecast Suggests 1,155.38% Upside
As of April 6, 2023, the average one-year price target for Avinger is $6.12. The forecasts range from a low of $6.06 to a high of $6.30. The average price target represents an increase of 1,155.38% from its latest reported closing price of $0.49.
$OPTT, today's PR is important imo because it was supported by the Department of Energy and might be looking at follow on contracts with them. This is from the July PR.
Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced that the U.S. Department of Energy (DOE) selected the Company for the Phase II development of a next-generation wave energy converter.
"Following our successful completion of the Phase I DOE Award in April 2022, this continued investment by the U.S. government towards novel, innovative, and clean ocean energy technology is critical to achieving our nation’s blue economy goals," said Philipp Stratmann, President and Chief Executive Officer of OPT. “This award from the DOE will be used to expand our Power-as-a-Service and Data-as-a-Service solutions, which will help us to expedite the development of our next generation of wave energy conversion technologies.”
In the DOE’s recently published awards for clean energy Small Business Innovation Research (SBIR) projects, OPT will receive up to $1,097,212 over the next 18-24 months to develop and test a modular and scalable Mass-on-Spring Wave Energy Converter (MOSWEC) PowerBuoy® for reliable powering of autonomous ocean monitoring systems, bringing an entirely new PowerBuoy® into our offering.
OPT holds multiple patents related to MOSWEC technology, which generates power from the relative motion caused by the ocean waves. OPT’s MOSWEC design has a hermetically sealed hull to protect internal components, is about the size of a standard shipping container, and is easily transportable and deployable. In addition, the design is scalable to support a wide range of applications and missions, including Maritime Domain Awareness, autonomous vehicle charging, and subsea power.
Not sure why the company is being quiet and letting us wallow around down here. From the 3rd quarter report there are at least a couple decent pr's that they could have put out instead of telling us in the q and instead of on twitter. If they are trying to save money well a pr is not that expensive.
Examples. Pick a couple that would have told us what they are up to.
Partnered with Task Force 59 of the U.S. Navy on a new project in Bahrain to support the Digital Horizon exercise for use of Unmanned Surface Vehicles. Digital Horizon was completed in January 2023 and is already leading to follow on deployments as noted below.
Awarded a minimum $0.4 million follow-on contract with Task Force 59 in Bahrain to provide WAM-V’s to support the International Maritime Exercise 2023 (IMX23) as a result of the successful demonstrations during Digital Horizon.
Obtained final acceptance for the buoy deployed at Enel Green Power Chile (EGP).
Deployed the first WAM-V 16 leased to Sulmara Subsea, Inc. (Sulmara). In February 2023 we received an order for the lease of a second WAM-V 16 to Sulmara. These are noteworthy as they were the first two WAM-V sales using our leasing model.