- by THS:UKI Manager
- 12 May 2022
- Corporate Member News
Irish based international ocean data company, XOCEAN, announced today that it has completed the acquisition of Geomara, a specialist hydrographic survey company, as part of its strategic global growth plan. The announcement follows the investment of €8m in September 2021 aimed to accelerate XOCEAN’s growth. Carbon-neutral XOCEAN is driving down emissions in the offshore industry and is delivering on its impact goal of displacing the emission of one million tons of carbon over the next 5 years.
For over 15 years, Geomara has been providing expert advice and services to a large variety of clients across the marine industry including Renewable Energy developers. It has prided itself on understanding their clients needs and delivering outstanding results which match the goals of the project. XOCEAN is transforming the way ocean data is collected using marine robotics known as Uncrewed Surface Vessels (USVs). Services provided by XOCEAN include seabed mapping, inspection of subsea assets and environmental monitoring.
Having tripled its revenue for two consecutive years, XOCEAN is developing a world-leading reputation within the ocean data market, and is accelerating this growth as the business scales. The company has tripled its headcount to 150 over the past 12 months and plans to grow it further to 300 over the next 18 months.
The company uses its proprietary marine robotic technology to collect ocean data sustainably across a range of industries including Offshore Wind. In just 3 years, XOCEAN has successfully delivered over 150 international projects accumulating over 45,000 hours of operation. The business continues to drive the development of new products with an ambitious technology roadmap, which integrates new capabilities whilst maximising the efficiency of the platform and pushing the boundaries of the technology to fulfil the growing demand for carbon-neutral data collection.
Geomara owner and Managing Director, Finn Delaney said “Both companies pride themselves on delivering high quality service to our clients, and it was obvious that there was great synergy, both in culture and in our vision. It is an exciting time to be in the industry and together we aim to continue to transform it.”
Commenting on the acquisition, James Ives, CEO, XOCEAN said “We’re delighted to welcome Finn and the team at Geomara. Combining XOCEAN’s innovative technology and Geomara’s strong industry expertise we look forward to further scaling XOCEAN as we continue to deliver low impact, carbon neutral ocean data to our clients.”