XOCEAN, a leading provider of ocean data services for offshore energy and civil hydrography, has raised €115 million in a recent funding round. The investment, led by S2G Ventures, Climate Investment, Morgan Stanley’s 1GT fund, and CC Industries (CCI), will fuel the company’s global expansion and accelerate its product development.
This significant funding will help XOCEAN scale its innovative uncrewed surface vessel (USV) platform, which provides critical data services for sectors such as offshore wind, carbon capture, utilization and storage (CCUS), asset integrity, and civil hydrography. The company’s low-carbon fleet aims to reduce CO2 emissions by 99.9% compared to traditional manned vessels, aligning with the increasing demand for sustainable solutions within the blue economy.
According to XOCEAN’s Founder and CEO, James Ives, the company is committed to delivering high-quality, cost-effective ocean data that supports the sustainable development of marine resources. Ives expressed excitement about the partnership with S2G, Climate Investment, Morgan Stanley, and CCI, emphasizing that this funding would enhance XOCEAN’s ability to meet the growing needs of its global client base.
The blue economy, encompassing sustainable ocean-related industries, continues to expand rapidly, particularly in offshore energy and environmental monitoring. With the new funding, XOCEAN is poised to strengthen its position as a key player in this sector, providing vital data services with a significantly reduced environmental footprint.
In summary, XOCEAN’s €115 million funding marks a major step in the company’s efforts to revolutionize ocean data collection while driving the transition to more sustainable maritime operations.
