Ocean Power Technologies Contracts With ACET for U.S. Navy SLAMR Initiative
27 Octubre 2020 - 7:00AM
Ocean Power Technologies, Inc. (“OPT” or “the Company”)
(NASDAQ: OPTT), a leader in innovative and cost-effective ocean
energy solutions, today announced it has been contracted by Reston,
Virginia-based Adams Communications & Engineering Technology
(ACET) to conduct a feasibility study. The evaluation of a PB3
PowerBuoy® power and 5G communications solution comes in support of
the U.S. Navy’s Naval Postgraduate School’s (NPS) Sea, Land, Air,
Military Research (SLAMR) Initiative, which conducts
interdisciplinary research in unmanned and robotic systems.
ACET President and CEO Charles Adams stated, “ACET’s subcontract
with OPT brings this potential technology solution one step closer
to reality through the SLAMR research initiative at NPS and
demonstrates our commitment to deliver products that meet or exceed
our customer’s needs.”
“This NPS initiative is about exploiting cutting edge
technologies in autonomous systems for marine defense. We are proud
to be part of this effort,” said George Kirby, President and Chief
Executive Officer of OPT. “Working closely with the U.S. Navy,
ACET, and the SLAMR initiative, we believe that OPT’s solutions can
be a focal point of the SLAMR mission profile.”
OPT and ACET will review, validate, and determine the cost and
configuration of integrating OPT solutions as the basis of an
autonomous offshore 5G communications system. The study will detail
preliminary operational, deployment, and maintenance plans, and
regulatory approval requirements to support the SLAMR initiative’s
focus on unmanned and robotic systems.
About Ocean Power TechnologiesHeadquartered in
Monroe Township, New Jersey, OPT aspires to transform the world
through durable, innovative, and cost-effective ocean energy
solutions. Its PowerBuoy® solutions platform provides clean and
reliable electric power and real-time data communications for
remote offshore and subsea applications in markets such as offshore
oil and gas, defense and security, science and research, and
communications. To learn more, visit
www.oceanpowertechnologies.com.
About ACETACET is a Veteran-Owned Small
Business (VOSB) headquartered in Reston, VA with offices in
Lexington Park, MD and Aberdeen Proving Ground, MD. It is an
established technology company providing integrated products and
solutions for Government Defense, Intelligence, and other Federal
Agencies. ACET’s core competencies are aligned with the current and
anticipated needs of its customers and address emerging global
challenges in key areas, such as Research and Development,
Logistics, Operations and Sustainment, Cybersecurity, IT Services,
C5ISR, and Technical and Program Management critical to the defense
of our Nation and her allies. To learn more, visit
www.adamscomm.com.
Forward-Looking StatementsThis 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 which could be inaccurate and which
are 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 SEC for a 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.
Contact Information - OPT
Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
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