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- BlueX | 7-22-24 | Defense Water Unicorn, Electric Outboards, and Maritime CO2 Removal
BlueX | 7-22-24 | Defense Water Unicorn, Electric Outboards, and Maritime CO2 Removal
Plus Dolphin Skin-like Materials, LA Grants, and Eco Wave's Success
Will Lutz
July 22, 2024
OceanTech Friends,
Lots of great funding news this week in the Blue Economy. A couple of people responded to my note of optimism last week. I really appreciate it.
There is a great book about the two competing views of environmentalism and their effects on the movement. It is one of my favorite environmentalism books and I highly recommend it. The Wizard and the Prophet by Charles Mann. It explores the optimistic and the pessimistic sides of this world. As you can tell, I’m an optimist.
Best,
Will
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About this Newsletter: BlueX is a weekly newsletter that scours the internet for venture and startup news as well as jobs related to OceanTech.
OceanTech Fundings
The main event. Startup investment announcements in OceanTech.
🌊 CO2 water removal company BlueGreen Water Technologies raised a Series B led by TAU Capital, with OurCrowd | More from Carbon Harold
🚤 Saronic, a defense autonomous surface vessels company raised a $175 million Series B led by Andreessen Horowitz with 8VC, Caffeinated Capital, Elad Gil and NightDragon. Saronic is the latest DefenseTech unicorn. | More from Crunchbase News
🌊 Water filtration AI company Boon raised $5M in Series A led by Roca Group Ventures. | More from Entrackr
⚡️ ACEL Power, an electric outboard motor company, raised $10M in Series A led by Tau Capital. | More from FinSMEs
💨 Stax Engineering, a maritime emissions capture and control company, raised $40M led by Upper90. | More from FinSMEs
More OceanTech News
Some of the OceanTech articles we liked. Not fundings necessarily, but some great stuff:
🛟 Bluferries New Passenger Hybrid Ro–Ro Ship Designed by CTE Perdikaris | Bluferries, announced the launch of a state-of-the-art hybrid Ro-Ro passenger ship, Sikania II Hybrid. | More from Maritime Executive
🧸 California Grants $8 Million to Port of Los Angeles to Enhance Data Technologies | The Port of Los Angeles has received $8 million in state funding to enhance its Port Optimizer data technology. | More from Biz Journals
🐬 Bionic Dolphin Skin Propeller Slashes Hundreds of Tonnes of Emissions | A new propeller created by the Ningbo Institute of Materials Technology and Engineering (NIMTE) coated with a skin mimicking that of a dolphin holds the promise of significantly reducing fuel consumption and emissions in large cargo ships. | More from New Atlas
More Ocean Sustainability News
Even if it isn’t tech, that doesn’t mean we don’t love reading these pieces:
🐬 NYK Bunkers Ammonia-Fueled Tug to Prepare for Sea Trials | Japan’s NYK Group reports it has taken another key step as it prepares to start sea trials for the first ammonia-fueled harbor tug. | More from Maritime Executive
🌬️ Fugro Secures More Work on 3 GW Wind Lease Area Offshore New York | Community Offshore Wind, a joint venture between RWE and National Grid Ventures, has selected Fugro to perform a geotechnical investigation of their lease area in the New York Bight. | More from Offshore Energy
🌊 Eco Wave Power Named Finalist in the EDF Pulse Awards | EDF’s annual competition highlights companies offering effective innovations to reach carbon neutrality faster. | More from PR Newswire