Details

Last Funding Type

Series C

Industries

Marine Technology,Nanotechnology,Robotics,Solar

Founded date

Oct 15, 2012

Number Of Employee

11 - 50

Operating Status

Active

Ocean Aero is an autonomous underwater and surface vehicle (AUSV) driven by wind and solar energy. It is a development-level company with a highly experienced management team that focused 2004-2011 on developing large, hybrid wind and electric-powered Unmanned Surface Vessel (USV) platforms for the U.S. Navy. That effort produced three patents and a wealth of engineering and market knowledge.

Ocean Aero represents the next generation – the creation of highly persistent, energy-scavenging wind/electric vessels packaged in a smaller, man-portable configuration. The company has designed a “game-changing” highly ruggedized surface/sub-surface vessel, powered by wind and solar energy, capable of months at sea that can be deployed from land, sea, or air. They have named it the “Submarin” – a new class of Unmanned Underwater, Surface Vessel (UUSV). Management plans to follow an aggressive IP technology strategy and, over time, introduce a number of variations of the base platform. The company’s Base Case projections show revenues growing from $420,000 in 2013 to over $20 million in 2016 with a blended gross margin of 52% and cash flow exceeding 33%. The company is seeking funding from a partner with industry knowledge that can help it develop go-to-market channels.