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.

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.

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.

At Propeller, we constantly seek opportunities to inspire ocean-climate innovation and entrepreneurship. Our Hackathons help identify opportunities for research teams from the Woods Hole Oceanographic Institution (WHOI) to solve problems faced in the market and uncover connections between industry and academia.

A few weeks ago, I had the opportunity to attend The World Ocean Summit hosted by Economist Impact as part of my ClimateCap Fellowship and on behalf of Propeller as their MBA Venture Capital intern. A few weeks later, I’ve now had time to reflect on my experience at the Ocean Summit, and look back on main takeaways from the keynote speeches, panel discussions, and meet and greet conversations. In doing so, I have pulled together the key themes I feel were central to the summit and are critical to achieving a sustainable blue economy.