-+ 0.00%
-+ 0.00%
-+ 0.00%

Ocean Power Technologies Signs Reseller Agreement With Elektron; Deal Includes $4M Purchase Commitment For OPT's Full Suite Of Intelligent Maritime Technologies

Benzinga·04/11/2025 12:19:23
Listen to the news

MONROE TOWNSHIP, N.J., April 11, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the signing of a reseller agreement with Elektron SAS ("Elektron"), a Cartegena, Colombia based specialist in hydrographic and oceanographic instrumentation services.

This partnership significantly expands OPT's commercial footprint across Latin America, leveraging Elektron's strong regional presence and deep relationships. Under the agreement, Elektron will offer sales, integration, and support services and includes a $4 million purchase commitment for OPT's full suite of intelligent maritime technologies, including the WAM-V® Unmanned Surface Vehicles (USVs), the Next Generation PowerBuoy®, and the AI-powered Merrows™ platform.