• €115M raised to expand XOCEAN’s uncrewed surface vessel (USV) platform globally.
• Funding targets growth in offshore wind, CCUS, asset integrity, and civil hydrography.
• Low-carbon fleet aims to reduce CO2 emissions by 99.9% compared to traditional vessels.

XOCEAN, a leader in ocean data services for offshore energy and civil hydrography, has secured €115 million in a funding round led by S2G Ventures, Climate Investment, Morgan Stanley’s 1GT fund, and CC Industries (CCI). The financing will drive the company’s global expansion and product innovation.

Growth-Focused Investment: The investment supports XOCEAN’s mission to meet the rising demand for high-quality offshore data amid the rapid growth of the blue economy. “Our mission is to deliver data that drives the sustainable development of our oceans in a safe, cost-effective, and ultra-low-impact way,” said James Ives, Founder and CEO of XOCEAN. “We are delighted that S2G, Climate Investment, Morgan Stanley, and CCI have chosen to join us on this exciting journey.”

Uncrewed Surface Vessels (USVs): Founded in 2017, XOCEAN’s fleet of uncrewed surface vessels (USVs) integrates endurance capabilities, advanced sensors, and real-time communications. These remotely operated, low-carbon vessels emit just 0.1% of the CO2 produced by traditional manned vessels, aiming to avoid millions of tons of emissions over the next decade.

Demand Drivers:

The blue economy’s expansion—spurred by offshore wind, carbon capture, and aging infrastructure inspection—has amplified the demand for efficient data solutions. Offshore wind alone is projected to grow over 500%, reaching 250 GW (excluding China) by 2035. XOCEAN’s expertise has positioned it as a key partner for companies like SSE Renewables, Ørsted, bp, and Shell.

Key Partnerships and Milestones:

• Data collected: Over 4.9 million gigabytes.
• Offshore wind projects supported: 48.6 GW.
• Operations span 23 jurisdictions worldwide.

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Strategic Investor Support:

The investor consortium’s operational experience and capital will bolster XOCEAN’s ambitious growth plans. Dr. Francis O’Sullivan, Managing Director at S2G, highlighted the importance of XOCEAN’s innovations: “We believe this investment represents a distinct opportunity at the intersection of the energy and oceans sectors. XOCEAN has reimagined how geophysical data can unlock the blue economy’s potential.”

Patrick Yip, Climate Investment’s Head of Growth Equity, emphasized XOCEAN’s climate impact: “The investment will accelerate XOCEAN’s technology deployment through our global network, reflecting our commitment to innovative climate solutions.”

Vikram Raju, Head of 1GT at Morgan Stanley, underscored the strategic alignment: “We look forward to leveraging the Morgan Stanley platform to support XOCEAN in delivering low-carbon energy through low-carbon operations.”

With this funding, XOCEAN aims to further decarbonize offshore data collection while enhancing operational efficiency, solidifying its position as a global leader in ocean data solutions.

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