Ocean Power Technologies announces $5M DHS contract; backlog $15M, pipeline $137M

Ocean Power Technologies, Inc.

CEO Philipp Stratmann discusses $5M multi-buoy contract with DHS for Coast Guard border monitoring on West Coast.
Backlog ~$15M and qualified pipeline >$137M as of Q3; contract is contractor-owned/operated with near-term revenue conversion.
Company moves from single-unit to multi-asset contracts; international demos in Brazil, Chile, and UAE.
System includes buoys, WAMV USVs, and docking/charging tech; data integration with Anduril for Coast Guard.
CEO cites geopolitics and tech readiness driving growth; focus on converting pipeline to backlog and operational delivery.

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