Ocean Power Technologies enters Master Services Agreement with Unique Group.

• Ocean Power Technologies inks Master Services Agreement with Unique Group. • Partnership to expand low-carbon marine power, data, and USV solutions. • Unique Group to serve as execution partner for non-defense WAM-V USV projects in UAE. • Agreement positions OPT to accelerate deployments, convert interest into revenue, and scale lease income. • Unique Group to provide operational support without significant additional overhead.

Ocean Power Technologies (OPTT), a leading innovator in low-carbon marine power, data, and unmanned surface vehicle (USV) solutions, has entered into a significant Master Services Agreement (MSA) with Unique Group, a UAE-headquartered global leader in subsea technologies and offshore engineering. The agreement positions Unique Group as OPT's execution partner for all non-defense WAM-V® USV projects in the United Arab Emirates (UAE).

The MSA, announced on July 26, 2025, formalizes and expands a strategic collaboration originally announced in July 2024. Key aspects of the partnership include the immediate lease of one OPT WAM-V 22 unmanned surface vehicle by Unique Group, revenue sharing, purchase options, and joint expansion of regional fleet capacity. Additionally, the agreement outlines plans for OPT to establish a dedicated Maintenance, Repair, and Overhaul (MRO) hub in the UAE to support regional operations and enhance service responsiveness.

This strategic collaboration aims to accelerate WAM-V deployments and scale recurring lease income in the UAE market while reducing operational risks, carbon emissions, and costs. By leveraging Unique Group's established regional presence and technical capabilities, OPT gains immediate operational capacity while maintaining technology ownership and participation in revenue generation. The planned establishment of an MRO hub represents a crucial operational element that will support service continuity and create additional revenue opportunities through aftermarket services.

The agreement's structure, combining immediate equipment leasing, revenue sharing mechanisms, and purchase options, creates multiple pathways to monetization while maintaining flexibility. This multi-tiered commercial approach aligns with successful patterns seen in other maritime technology deployments, where initial leasing arrangements often transition to fleet expansions as operational validation occurs.

For OPT, this partnership represents a significant milestone in its commercialization journey, potentially transforming its WAM-V technology from a developmental asset to a revenue-generating product without the typical capital expenditures associated with international market expansion.

References:
[1] https://www.stocktitan.net/news/OPTT/ocean-power-technologies-accelerates-uae-growth-strategy-through-2z42p8udbak3.html
[2] https://www.power-technology.com/news/bruce-power-ten-year-msa-candu/