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- BlueX | 8-5-24 | $500M for RI Blue Economy, Restorative Aquaculture, and Wind Farms Power Grid
BlueX | 8-5-24 | $500M for RI Blue Economy, Restorative Aquaculture, and Wind Farms Power Grid
Plus $1B for US Wave Energy
Will Lutz
August 05, 2024
Happy August Ocean Friends!
There is a ton of great OceanTech news this week. August has a reputation for VC-check-writing-slowdown, but I do not see it in BlueTech this first week.
Outside of the venture world, I’m particularly excited to see the US get into wave energy with a big government investment; a vertical I’m personally obsessed with.
Have a good week!
-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.
🌧 Planeteers, a startup that stores CO2 in mineralized water in the ocean raised a Seed round from BonVenture, Smart Energy Innovationsfonds AG, and ClimaNow. | More from Silicon Canals
🛟 Energy transition and decarbonization in the maritime and offshore industries company D-ICE Engineering raised €6M led by SWEN CP’s Blue Ocean fund, with Mer Invest | More from Silicon Canals
🐡 Urchinomics a restorative aquaculture company, secured investment from Food & Life Companies Ltd and Tokyo’s NYK. | More from Silicon Canals
More OceanTech News
Some of the OceanTech articles we liked. Not fundings necessarily, but some great stuff:
🌊 Monster Wave Of Marine Energy About To Hit US Shores | US lawmakers propose a new $1 billion funding pot to stimulate the launch of the domestic marine energy industry into the big leagues of the renewable energy transition. | More from CleanTechnica
🚢 Japan’s Sojitz backs Dutch ship-breaking technology startup | The Japanese giant is funding new technology that aims to automate and accelerate the ship-breaking process in a way that abides by strict EU environmental regulations | More from Undercurrent News
⛴️ Florida Institute of Oceanography brings Tampa startup's tech on board | The wearable technology will help alert crewmembers of emergencies on board a research vessel. | More from Biz Journals
More Ocean Sustainability News
Even if it isn’t tech, that doesn’t mean we don’t love reading these pieces:
🌎 Notice of Intent: Up To $112.5 Million Funding Opportunity to Support U.S. Wave Energy Development | The U.S. Department of Energy’s Water Power Technologies Office announced an intent to provide up to $112.5 million in funding to advance the commercial readiness of wave energy technologies through open water testing and system validation. | More from CleanTechnica
🔌 Wind Farms Using Underwater Power Grid Could Revolutionize East Coast Power | Offshore winds have the potential to supply coastlines with massive, consistent flows of clean electricity. One study estimates wind farms just offshore could meet 11 times the projected global electricity demand in 2040. | More from Maritime Executive
🛥 Maritime startup developers Flagship Founders and Studio 30 50 to merge | Merger comes as AI and increased connectivity offer new startup opportunities in shipping | More from Tradewind News
💰 Ocean Tech Hub wins federal award to boost the 'blue economy' in Rhode Island and Massachusetts | $500 million from the EDA will help the RI-based blue technology hub maintain momentum and leverage capital, officials said. | More from Biz Journals