New agreement extends OPT’s reach in Latin America

U.S.-headquartered Ocean Power Technologies (OPT) has signed a reseller agreement with Geos Telecom, a maritime communication and navigation solutions provider in Costa Rica.

This partnership expands OPT’s reach in Latin America with the immediate sale of a Wave Adaptive Modular Vessel (WAM-V) and expected near-term continued growth in PowerBuoy systems and WAM-Vs to meet regional demand, said OPT.

“We are excited to collaborate with Geos Telecom as our strategic reseller in Costa Rica. We believe this agreement not only enhances our footprint in Latin America but also enables us to deliver advanced USV capabilities to a new customer base,” noted Philipp Stratmann, CEO of OPT. 

“The immediate sale of a WAM-V underscores the growing demand for our technology and supports our mission to provide innovative solutions for safer, cleaner, and more productive ocean operations.”

OPT’s PBs are wave-powered energy devices that can act as uninterruptable power supply (UPS) devices that recharge themselves by harvesting energy from waves. PBs are ocean-deployed, moored, and floating over the point of use. 

In August 2023, OPT demonstrated the ability of its WAM-V to attach itself remotely to a wave-powered buoy and establish a connection that will enable charging. 

OPT expects to pave the way for a future where autonomous vessels can operate for extended durations, opening doors to various applications within the maritime domain.