Mentioned:
A publicly traded company is partnering up with Anduril for a new government contract. But, why?
What’s happening:
- Ocean Power Technologies (NYSE: OPTT) has won a $5M USD contract from the United States Department of Homeland Security to supply and operate their proprietary ocean based PowerBuoy systems for real time surveillance capabilities
Why it matters:
- Ocean Power Technologies is partnering with defense tech giant Anduril on the new contract from the United States Department of Homeland Security
Going deeper:
- Ocean Power Technologies’ PowerBuoy systems will support the United States Coast Guard for missions near San Diego, California
- Ocean Power Technologies’ PowerBuoy technology is capable of using waves, solar and occasionally wind to generate and store electricity and then supply that power to ocean based equipment such as sensors, cameras and communication hardware
- Anduril will provide their Lattice software platform and surveillance towers as part of the collaboration with Ocean Power Technologies to enable real time maritime awareness
