Ocean Power Technologies Secures $4 Mln Latin America Reseller Deal With Elektron SAS

(RTTNews) - Ocean Power Technologies (OPTT) Friday has signed a reseller agreement with Colombia-based Elektron SAS, expanding its reach in Latin America.

Elektron will provide sales, integration, and support services for OPT's marine technologies and has committed to $4 million in purchases, including WAM-V USVs, PowerBuoy, and the AI-driven Merrows platform.

OPT CEO Philipp Stratmann highlighted the deal as a key step in scaling the company's global reseller network and accelerating growth in high-potential markets. This partnership supports OPT's ongoing focus on international expansion and solidifies its presence in the marine robotics sector.

OPTT is currently trading at $0.3937 or 1.0058% lower on the NYSE American.