Ocean Power Technologies Awarded Contract with WildAid and Caribbean Law Enforcement to Combat Illegal Fishing with Uncrewed Technologies

MONROE TOWNSHIP, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced they have entered a contract with WildAid and Caribbean Law Enforcement partners. This collaboration aims to protect vital marine species and combat illegal, unreported, and unregulated (IUU) fishing activities in critical habitats using OPT's state-of-the-art uncrewed technologies.

Under this new agreement, OPT will provide WildAid and their Caribbean Law Enforcement partners with an OPT WAM-V 16 Uncrewed Surface Vessel (USV) equipped with an integrated quadcopter aerial drone. This cutting-edge technology will empower law enforcement agencies and conservation organizations to safeguard marine life from illegal harvesting while ensuring the sustainability of these critical ecosystems.

WildAid, an organization dedicated to inspiring change and empowering the world to protect wildlife and essential habitats from critical threats, including illegal fishing, wildlife trafficking, and climate change, will play a pivotal role in this partnership. WildAid's work spans the globe, with innovative communications campaigns reaching millions of people in China, Southeast Asia, Africa, and the U.S., encouraging them to take action to protect endangered wildlife and reduce climate impacts.

The collaboration between OPT, WildAid, and Caribbean Law Enforcement will harness the power of uncrewed surface and air assets to identify, track, and collect data from individuals seeking to disrupt the pattern of life and threaten the environment through their illicit activities. These technologies will provide unprecedented, networked surveillance capabilities and evidence collection, allowing authorities to gather critical information and support legal actions while keeping personnel safely out of harm's way until the precise time and conditions favor interdiction efforts.

This partnership represents a significant step forward in the fight against illegal fishing and the protection of marine life in vital habitats. OPT's uncrewed technologies, coupled with the expertise of WildAid and Caribbean Law Enforcement, will contribute to the preservation of marine ecosystems and the prevention of IUU fishing activities, which pose a significant threat to the environment.