Ocean Power Technologies OPT has entered a memorandum of understanding (MOU) with Gardline Environmental to jointly develop metocean monitoring and maritime security systems for ocean observing and defense and security markets.
The MOU outlines a multi-phase effort which is the basis for ongoing collaboration between the two companies.
Under this agreement, OPT and Gardline will work closely to investigate, develop, test and market solutions enabled by both companies’ technologies.
OPT President and Chief Executive Officer, George H. Kirby , said: “We are very excited about the opportunity to work with Gardline to develop a joint monitoring solution for offshore applications. The lack of cost effective delivery of reliable offshore power has long been the cause of stifled innovation.
“This MOU represents an important step in our intensified efforts to accelerate PowerBuoy commercialization and market adoption. Gardline’s expertise with systems integration, sensors and communications complemented by OPT’s leadership in wave energy conversion technology paves the way for novel solutions in offshore markets. We are pleased that Gardline chose to work with OPT to provide advanced systems solutions to the offshore industry.”