CSignum Secures £6M to Advance Underwater Wireless Networks
a £6 million Series A funding round. The investment will accelerate growth of its EM-2 family of products which are transforming the way critical wireless sensor data is transmitted from submerged environments to networks above. The funding round was led by Archangels, Par Equity, and Scottish Enterprise with additional investment from British Business Investment (BBI), Raptor Group, Deep Future, SeaAhead’s Blue Angel Network, and notable individual US investors. This new investment enables CSignum to expand its global presence, accelerate product development and address the growing
NSC and PlanSea to Develop AI-Powered Subsea Decommissioning Tech
awarded a grant to develop a subsea decommissioning optimization software demonstrator with PlanSea, a developer of marine logistics artificial intelligence (AI) technology.The grant was awarded to the National Subsea Centre and PlanSea by the Scottish Funding Council (SFC) in partnership with Scottish Enterprise (SE) to assist in developing a subsea decommissioning optimization AI-Demonstrator.As global operators face the challenges of large-scale and complex subsea decommissioning, there is an identified need for optimization in this area to secure a cost-effective and resource-efficient outcome
Scottish Subsea Robotics Firm Gets Seven-Figure Investment Boost
Scottish underwater robotics firm HonuWorx has received a seven-figure investment into its plans to revolutionize operations in the energy and security sectors.TRICAPITAL Angels and Scottish Enterprise have delivered the investment round, along with UK Innovation and Science Seed Fund (UKI2S), which has invested in HonuWorx for a second time.The funding boost comes ahead of an anticipated major capital raise later this year as the firm drives plans for expansion, setting the plans to slash costs and emissions for offshore repair and inspection work through its fleet of autonomous, all-electric submarine
Mocean Energy Raises Funds for Blue Star Wave Energy Technology
Wave energy firm Mocean Energy has raised £2.2 million in new equity alongside a £500,000 grant to drive the commercialization of its wave energy technologies.The equity funds come from existing investors, including Equity Gap, Scottish Enterprise and Old College Capital, the University of Edinburgh’s venture investment fund, alongside new shareholders Norwegian impact investors Katapult Ocean and MOL PLUS, the corporate venture capital arm of listed Japanese shipping conglomerate MOL.In addition, Mocean has secured a £499,500 Low Carbon Manufacturing Challenge Fund grant
Wave Energy Tech Firm Mocean Energy Secures Major Investment
will drive the technology's adoption in subsea oil and gas.The Edinburgh firm has raised £730,000 in equity funding from existing funders, led by the angel syndicate Equity Gap, together with Old College Capital, the University of Edinburgh’s in-house venture investment fund, and Scottish Enterprise.Last year Mocean successfully trialed the Blue X prototype at sea at the European Wave Energy Centre (EMEC) in Orkney, and is currently collaborating with partners to advance a demonstrator project, called Renewables for Subsea Power, to show how its technology can be coupled with underwater
Sentinel Subsea Attracts Investment for Subsea Well Monitoring Tech
Passive well integrity monitoring firm Sentinel Subsea has secured an investment from Alba Equity and Scottish Enterprise as it continues to develop its technology for the monitoring of subsea wells.Founded in 2018, Sentinel Subsea has developed WellSentinel, described as a unique method of monitoring and managing the integrity of subsea wells, wellheads and xmas trees. "Without the complexity of active power or data communication, Sentinel Subsea offers a proven method of long-term remote well integrity monitoring," the company said.With successful field trials already carried out
Nova VOLT gets $2.8m injection from Scottish government
Nova Innovation was awarded a $2.8m cash injection from the Scottish Government to advance its tidal turbine manufacturing to a global level.The funding, delivered through Scottish Enterprise, is directed at Nova’s VOLT (VOlume Manufacturing and Logistics for Tidal Energy) project that aims to develop the first European assembly line to mass manufacture tidal turbines, and trial innovative techniques and tools to ship, deploy and monitor turbines around the world.The project will examine how to improve turbine performance, logistics for mass manufacture, and develop new techniques to ensure
Sustainable Marine Floats Out 'Next-Gen' Tidal Energy Platform in Canada
and engineering expertise from our German, Scottish and Canadian teams, and is the culmination of a decade of research and development,” said Jason Hayman CEO of Sustainable Marine. "We are very fortunate to have such strong support from our major shareholders, Schottel and Scottish Enterprise, the Government of Canada, and a wide range of partners and collaborators. The PLAT-I 6.40 has been designed specifically for the Pempa’q Project - where we will deliver the world’s first floating tidal array – in Nova Scotia, which has the best natural
Mocean's Wave Energy Device to Power Subsea Oil & Gas Ops
,000 from Innovate UK to advance the design of its Blue Star wave device and drive its adoption in subsea oil and gas.The funding includes investment by Old College Capital, the University of Edinburgh’s in-house venture investment fund, and the Scottish Investment Bank, the investment arm of Scottish Enterprise. The equity funding unlocks a further £250,000 from Innovate UK, the UK’s innovation agency."Our goal is to produce a commercially-available wave machine which can deliver low carbon power for tiebacks and future fleets of autonomous AUVs [autonomous underwater vehicles],&rdquo
February 2025
