Ocean Power Technologies to deploy PowerBuoy for maritime defense testing
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Ocean Power Technologies Inc (NYSE-A:OPTT) has received a binding letter of intent to deploy its PowerBuoy for maritime defense testing, demonstrating its capabilities in extreme sea conditions. This follows a previous agreement with a major defense contractor.
March 12, 2025 | 1:45 pm
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Ocean Power Technologies has secured a binding letter of intent to deploy its PowerBuoy for defense testing, indicating potential growth in defense applications.
The binding letter of intent to deploy PowerBuoy for defense testing suggests a positive development for OPTT, as it indicates potential revenue and growth in the defense sector. The previous agreement with a major defense contractor further supports this potential.
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