Blue Energy uses shipyard manufacturing to reduce the cost and build time of small modular nuclear power plants. Location: Washington DC, USA How we met: on zoom, Jake pitching us with his newborn strapped to his chest. Propeller theme: Ocean Industrials Propeller investment stage: Seed

Aikido Technologies unlocks the opportunity for floating offshore wind power. Their novel, up-ending platform will dramatically reduce costs for floating offshore wind projects. Location: San Francisco, CA, USA How we met: Through our network Propeller theme: Ocean Industrials Propeller investment stage: Seed

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.

Allium addresses one of the hardest problems in the ocean-building things that last. Their stainless clad rebar will change how we scope ocean and coastal builds. Location: Boston, MA, USA How we met: Jake Russell found 'em! Propeller theme: Ocean Industrials Propeller investment stage: Seed

Calcarea captures and stores emissions from maritime shipping by harnessing the Earth’s natural response to excess CO2. Location: Los Angeles, CA How we met: A friend asked Reece if he'd "heard what Jess is working on?" Propeller theme: Ocean Carbon Propeller investment stage: Seed

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.