Lockheed Martin Ventures and Energy Innovation Capital make strategic investment in Ocean Aero
Ocean Aero, Inc. of San Diego, CA announced on August 29 that it has secured multi-million-dollar strategic investments from both Lockheed Martin Ventures and Energy Innovation Capital (EIC) in a Series B funding round. This is Lockheed Martin Ventures’ second investment in Ocean Aero and the initial investment for EIC in the unmanned maritime systems market. Both companies join Teledyne Marine as the primary investors behind Ocean Aero.
Lockheed Martin Ventures’ investment continues to increase the company’s maritime capabilities with a focus on intelligence, surveillance and reconnaissance (ISR). EIC will provide Ocean Aero with significant growth opportunities in the energy and other commercial sectors.
“Since our initial investment in Ocean Aero last September, the company has continued to make great progress with the development of its unique technology,” said Chris Moran, executive director and general manager of Lockheed Martin Ventures. “The additional investments will allow Ocean Aero to scale its production capabilities and meet the diverse set of demands of a growing customer base using environmentally-powered, autonomous systems.”
Ocean Aero’s signature product is the Submaran, the first hybrid wind and solar-powered surface and subsurface vehicle designed for extended ocean observation and data collection. The Submaran participated with Lockheed Martin on a successful, multi-domain unmanned systems technology demonstration during a naval technology exercise at the Naval Undersea Warfare Center in Newport, Rhode Island. The Submaran relayed instructions to Lockheed Martin’s Marlin autonomous underwater vehicle, instructing it to launch Vector Hawk, a small, unmanned aerial vehicle.
“We couldn’t ask for better partners than Lockheed Martin, EIC, and Teledyne Marine,” said Eric Patten, CEO of Ocean Aero. “Their financial support, operational guidance, and business development assistance provides us with the ability to scale our operations to a level needed for the coming years. We have a very bright outlook in the short and long terms.”
Source: Ocean Aero