BlueX | 8-12-24 | eFuels, Microalgae Whey, and Wave Power

Happy August Ocean Friends,

It is my birthday this week and I’m wishing for clean ocean-generated electrons when I blow out the candles. The news this week is pretty cool, although I have to start with a retraction.

Last week I featured an article about Rhode Island’s Ocean Tech Hub. Apparently, that article was not accurate. https://pbn.com/r-i-s-recent-tech-hub-grant-part-of-9-5m-funding-round/. I apologize for the mistake. Whichever amount the hub raised, I’m happy for every dollar going to BlueTech.

Best,

Will

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OceanTech Fundings

The main event. Startup investment announcements in OceanTech.

⛽️ Ten08 Energy, a clean ammonia firm, raised $2.5M from the UK’s Navigator Gas expanding its latest round. | More from Offshore Energy

🌊 HIF Global an eFuels firm raised $36M from JOGMEC. | More from Offshore Energy

☔️ Smart water-heating company, Cala Systems raised a $5.6M seed round led by the MassCEC and Clean Energy Venture Group, with Burnt Island Ventures, Leap Forward Ventures, CapeVista Capital, Collaborative Fund, and Climate Capital. | More from Biz Journals | Editor’s Note: I understand that this is a stretch to call HVAC/plumbing “BlueTech,” but I’m in the market for a new water heater for my home and wanted to share.

More OceanTech News

Some of the OceanTech articles we liked. Not fundings necessarily, but some great stuff:

💪 Nutrition from Water Develops Microalgae-Based Whey, Prepares for Market Introduction | New Zealand-based biotechnology startup Nutrition from Water (NXW), previously known as NewFish, has developed a microalgae-based whey for sports, wellness, advanced nutrition, and other categories such as baking and dairy-free confectionery. | More from The Vegconomist

🥇 2024 Elisabeth Haub Award for Environmental Law and Diplomacy to Honor Singapore Ambassador Rena Lee and Iucn Senior High Seas Advisor Kristina Maria Gjerde for Remarkable Contributions to Ocean Conservation | At a time when unprecedented marine heat waves warm 40 percent of the oceans, and much life at sea is endangered, the Elisabeth Haub School of Law at Pace University is proud to recognize two distinguished women for their leadership negotiating the world’s first legal agreement to safeguard biodiversity in the high seas. | More from Pace University

🌊 Eco Wave Power Officially Kicks Off the First MW Scale Wave Energy Project in Portugal | Project is Built as Part of a 20 MW Concession Agreement and Will Feature a First of its Kind Underwater Wave Energy Museum. | More from PR Newswire

More Ocean Sustainability News

Even if it isn’t tech, that doesn’t mean we don’t love reading these pieces:

💧 Blue Startups’ Newest Accelerator Program Is Underway With 13 Companies | The accelerator focuses on business development and mentorship, and the 12-week run will cover topics including customer delivery, product-market fit, and investor and customer connections. | More from Biz Journals

🌬️ Taiwan Awards 2.7GW to Five Projects in Latest Offshore Wind Round | Taiwan’s Ministry of Economic Affairs (MOEA) has revealed the winners of the latest offshore wind tender round which were awarded 2.7 GW in total generation capacity. The country’s authorities revealed that five projects were among the winners of the offshore wind auction, named Round 3.2. | More from Splash 247

🌊 US Eyes Oregon Wave Energy Deployments With $112M Funding | PacWave South, off the Oregon coast at Newport, figures to play a big role in a U.S. Department of Energy $112 million funding opportunity. | More from Biz Journals

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