Ocean Power Technologies expands UAE partnership with Unique Group under MSA; leases WAM-V 22

Ocean Power Technologies, Inc.

Entered Master Services Agreement with Unique Group for non-defense WAM-V USV projects in UAE.
Unique Group will immediately lease one WAM-V 22 USV, with revenue sharing and purchase options.
Plans to establish a dedicated MRO hub in UAE to support regional operations.
Agreement formalizes and expands collaboration originally announced July 2024.
CEO states partnership unlocks potential of uncrewed surface vehicles to reduce risk and costs.

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