XOCEAN, a leader in ocean data solutions, has closed a €115 million financing to accelerate the expansion of its technology platform. The company, known for its innovative fleet of unmanned surface vessels (USVs), is positioning itself at the forefront of the blue economy, focusing on sectors such as marine energy and civil hydrography.
The goal of XOCEAN
Since its founding in Ireland in 2017, XOCEAN has redefined the way data is collected and processed offshore. Its USV fleet not only reduces carbon emissions to 0.1% of those generated by traditional manned vessels, but offers a safe and cost-effective solution for geophysical data and environmental monitoring needs.
The new funding, led by S2G Ventures, Climate Investment and Morgan Stanley’s 1GT fund, will enable XOCEAN to expand its global reach and innovate in products. This includes carbon capture and storage (CCUS) and marine infrastructure monitoring, key sectors for ocean sustainability.
With installed offshore wind capacity projected to exceed 250 GW by 2035 , the company is well positioned to respond to the growing demand for high-precision data in critical sectors. Companies such as Shell, bp and SSE Renewables already rely on its solutions for project development in more than 23 jurisdictions.
James Ives, CEO of XOCEAN, highlighted the company’s mission:
To provide data that drives sustainable development of our oceans in a safe, cost-effective and ultra-low-impact manner. This funding will enable us to scale our global operations and innovate even further.
With its clear vision to lead the transition towards a more sustainable use of the oceans, XOCEAN continues to set the course towards a prosperous and sustainable blue economy.
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Source and photos: XOCEAN via PR Newswire