Ocean Power Technologies Announces Binding Letter of Intent to Deploy AI-Capable PowerBuoy for a Major International Defense Contractor
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Ocean Power Technologies (OPTT) has received a binding letter of intent to deploy its AI-capable PowerBuoy for a major international defense contractor. This deployment aims to demonstrate the system's capabilities in extreme sea conditions for defense and security applications.
March 12, 2025 | 12:30 pm
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Ocean Power Technologies has secured a binding letter of intent to deploy its AI-capable PowerBuoy for a major international defense contractor. This project will demonstrate the system's capabilities in extreme sea conditions, potentially opening new markets in defense and security.
The binding letter of intent indicates a strong commitment from a major defense contractor, suggesting potential future contracts and revenue streams for OPTT. The focus on defense and security applications in extreme conditions highlights the strategic importance of this deployment.
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