# Mocean Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mocean-energy

- Industry: Renewable Energy
- Headquarters: Edinburgh, UK
- Website: www.mocean.energy
- Total disclosed funding: $1.8M
- Latest round: Seed (Feb 18, 2022)
- Investors on record: 4

## About

Mocean Energy Ltd. is a pioneering company focused on the development of innovative wave energy conversion technologies, delivering sustainable energy solutions harnessing ocean waves for various applications.Founded in 2015 and headquartered in Edinburgh, UK, Mocean Energy Ltd. designs advanced wave energy converters, including the commercially ready Blue Star and the in-development Blue Horizon. The company has completed six funding deals, with the most recent taking place on November 13, 2023, where it secured GBP 500,000 in Grant funding from Scottish Enterprise, bringing the total amount raised to GBP 2.2 mn. Chris Retzler is the founder of the company.Mocean Energy specializes in the design and delivery of advanced wave energy converters, primarily the Blue Star and Blue Horizon devices. The commercially ready Blue Star provides renewable power solutions for subsea applications, while the Blue Horizon aims to deliver grid-scale power from offshore wave farms. These solutions integrate wave energy, solar energy, and battery storage to reduce reliance on carbon-intensive seabed umbilical cables, catering to clients in energy, marine operations, and environmental monitoring sectors globally.Mocean Energy's revenue model is centered on B2B partnerships with government and private organizations, having secured over GBP 5 mn in funding from various stakeholders, including the Scottish and UK governments, and the EU. Revenue is generated through the sale and deployment of their flagship products and service agreements for subsea operations, with pricing structures determined through negotiations based on specific applications.In November 2023, Mocean Energy Ltd. raised GBP 500,000 in grant funding from Scottish Enterprise, which will be utilized to advance the Blue Horizon technology through research and development, commercialization, and first-order acquisition. The company aims to expand its market presence, focusing on specific regions with significant offshore energy potential, and anticipates launching its Blue Horizon technology in the coming years.

## Funding rounds

- Seed, Feb 18, 2022, $1M — Old College Capital, Equity Gap, Scottish Enterprise
- Seed, Nov 16, 2020, $0.8M — Old College Capital, Equity Gap, Scottish Investment Bank

## Investors

- Old College Capital (https://capitalatlas.ai/funds/old-college-capital) — Seed
- Equity Gap (https://capitalatlas.ai/funds/equity-gap) — Seed
- Scottish Investment Bank — Seed
- Scottish Enterprise (https://capitalatlas.ai/funds/scottish-enterprise) — Seed