Ocean Power Technologies shares are trading higher after the company announced it was awarded a contract for immediate delivery of a PowerBuoy equipped with Merrows, its Artificial Intelligence capable Maritime Domain Awareness Solution, in the Midde East.
Portfolio Pulse from Benzinga Newsdesk
Ocean Power Technologies shares are trading higher after the company announced it was awarded a contract for immediate delivery of a PowerBuoy equipped with Merrows, its AI-capable Maritime Domain Awareness Solution, in the Middle East.
July 15, 2024 | 12:19 pm
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Ocean Power Technologies (OPTT) shares are trading higher following the announcement of a new contract for its AI-capable PowerBuoy in the Middle East.
The new contract for the PowerBuoy equipped with Merrows in the Middle East is a significant development for Ocean Power Technologies. This contract not only boosts immediate revenue but also showcases the company's advanced technology, potentially leading to more contracts in the future. The market has reacted positively, as evidenced by the rise in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100