Ocean Power (OPTT) Technologies announced it has received an approximate $1.5 million Purchase Order from the United States Coast Guard for the installation and deployment of buoy systems previously ordered. This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security maritime security missions. The Company expects this order to contribute to near-term revenues as installation and deployment activities commence. Under the scope of work, OPT will execute deployment, commissioning, and operational activation to ensure the systems are fully integrated and mission ready. The buoys are expected to enter active service shortly following installation.
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