Bedrock Ocean Exploration announced recently that it has attracted $25.5 million in funding for its autonomous underwater vehicles (AUVs) and digital platform, which have the potential to redefine the offshore wind sector, the company said.
Demand for offshore wind has surged alongside other renewable energy sources, but the necessary work of surveying, inspecting, and mapping coastal areas is stuck in the past, Bedrock said. Bedrock said its AUVs and digital platform aim to revolutionize these processes, and the company has secured significant funding to pursue this goal.
Bedrock's AUVs operate meters above the seafloor, providing more detailed and comprehensive data compared to traditional methods. Instead of relying on powerful sonar units carried by large ships, Bedrock's said its AUVs offer a cost-effective and efficient alternative. With their ability to collect bathymetry, backscatter, side-scan sonar, magnetic readings, and soon, sub-bottom sonar profiling data, these AUVs provide a suite of tools for offshore wind surveys.
"We are not entering a future where less information about critical infrastructure is acceptable," said Anthony DiMare, co-founder of Bedrock. "If you want anything to happen, you're going to need to understand what's going on in the ocean. Is it a $10 billion or a $20 billion market? Twenty would be better, sure,but 10 isn't bad either."
The recent $25.5 million Series A funding round, co-led by Northzone and Primary Venture Partners, positions Bedrock to demonstrate the commercial viability of its technology. With the funding, the company said it aims to accelerate the offshore wind industry, expand its operations along the East Coast, and further develop its data play model.
As Bedrock evolves its business model, the focus shifts from solely providing AUV services to becoming a data provider, the company said. By identifying valuable areas to survey, collecting the data, and selling it to interested parties, Bedrock said it aims to retain control over the valuable intellectual property it creates.
With its innovative AUVs and digital platform, Bedrock said it is well-positioned to meet the growing demand for offshore wind data acquisition and support the development of wind farms.