Monroe Township’s Ocean Power Technologies (OPT) 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, announced Tuesday, completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions.
OPT will execute deployment, commissioning, and operational activation to ensure the systems are fully integrated and mission-ready, according to a release. The buoys are expected to enter active service shortly following installation.
OPT anticipates this order will contribute to near-term revenues as installation and deployment activities commence.
This strategic emphasis is directly aligned with the updated doctrine of the U.S. Department of Homeland Security and the U.S. Department of Defense to further strengthen Homeland Defense.
The systems are designed to enhance surveillance, situational awareness, and operational effectiveness in demanding maritime environments.
In December, Ocean Power Technologies was named as part of a groundbreaking partnership with Rutgers University, Stockton University, and the New Jersey Economic Development Authority (NJEDA) aimed at reviving the historic Long-Term Ecosystem Observatory (LEO) off the Jersey Shore.
