Ocean Power expands partnership with Unique Group

Ocean Power (OPTT) Technologies announced that it has entered into a Master Services Agreement, MSA, with its established partner, Unique Group. This MSA formalizes and significantly expands the strategic collaboration originally announced in July 2024, positioning Unique Group as OPT’s execution partner for all non-defense WAM-V USV projects in the United Arab Emirates, UAE. As part of the agreement, Unique Group will immediately lease one OPT WAM-V 22 unmanned surface vehicle, with provisions for revenue sharing, purchase options, and joint expansion of regional fleet capacity. The agreement also includes plans for OPT to establish a dedicated Maintenance, Repair, and Overhaul hub in the UAE to support regional operations and enhance service responsiveness.