In part one of this series, I explored how we're rethinking sources of ocean energy — from thermal gradients to nuclear SMRs to currents. But understanding energy in the ocean means looking at both sides of the equation. This time, I want to talk about uses: where energy is being consumed in ocean and coastal environments today, where demand is shifting, and where new opportunities are emerging. Because reimagining energy infrastructure only matters if it maps to real demand. And in the ocean, that demand is not only changing — it’s being reshaped by concerns about energy security and shifting cost curves.

When most people think of energy from the ocean, four primary sources typically come to mind: offshore wind, offshore oil and gas, wave, and tidal power. And for good reason — these are the legacy sectors that have absorbed decades of capital and engineering focus.

We're hiring an Operations Leader! This is a broad role with a lot of opportunity for impact, most notably making moments like the one above happen, featuring our 2024 Ocean MBA cohort. Overview: As our Operations Leader, you’ll be the go-to person for all things operations, offering support across Partners, Limited Partners (LPs), portfolio companies, and service providers. You’ll help ensure the smooth running of our day-to-day tasks, and occasional events and gatherings. We’re looking for someone with high EQ, strong organizational skills, and experience in operations or project management. Our preference is for this person to live in the Greater Boston area with a hybrid in-person/remote schedule, though we'll consider fully remote candidates as well.

Inspired. That’s the feeling we get from working closely with a room full of ambitious, climate-tech entrepreneurs during our most recent Ocean MBA.

If I asked you to pick three US cities with the strongest “ocean” vibes, you would probably name San Diego, Miami, LA, maybe even Boston. New York likely wouldn’t cross your mind - but that may be changing. In the past few years, NYC has emerged as a rapidly growing leader in climate and ocean tech. From its early origins as a major port, to the thriving regional aquaculture industry, to its pole position in the national push for offshore wind (not to mention year round surfing in Far Rockaway), the city has numerous factors contributing to its history and growth as an ocean hub.

Reducing “launch costs” for ocean tech will unlock the blue economy, the same way the private space sector led to a boom in orbital observation and communications.

In the last 60 years, natural disasters, driven by climate change, are punishing coastlines at a far greater rate than inland disasters (see graph). Furthermore, the extremes of these events will worsen and may likely increase in frequency. Not to mention the fact that 40% of the world’s population lives in, commutes through, works around, and is otherwise part of this impact zone.

Last week, we splashed down at Woods Hole Oceanographic Institution (WHOI) to host another fun Ocean MBA, which featured over 30 WHOI researchers, engineers, staff, and students, along with scientists from Bigelow Laboratory for Ocean Sciences. Dozens of mentors and instructors joined us to share their knowledge and learn more about the WHOI teams’ work. The feedback from all teams was overwhelmingly positive, emphasizing the entrepreneurial insights gained and the invaluable support from our mentors.

Today, Propeller pushed an update to our website, revealing for the first time the portfolio we’ve been busy building. It’s an exciting day for us because what makes our work so satisfying is backing founders and the important work they’re doing.

Here’s a quick profile on how we invest at Propeller for founders seeking funding or for investors seeking to syndicate with us. Note: We’re speaking generally here. We sometimes draw outside the lines.