Launched in 2018 with Enterprise Ireland, the Elevation Award recognises fast-growing Irish companies with substantial potential for global expansion. XOCEAN was established in 2017 and currently has 200 employees in Ireland and globally. James Ives, CEO, leads the company, which is widely regarded as a leading provider of carbon-neutral ocean data.
What motivated you to start the company?
Major energy and industrial corporations, as well as government agencies, are all seeking reliable, high-quality ocean data for various applications, from developing offshore wind farms to ensuring marine safety. Traditionally, mapping the ocean floor and collecting marine data requires a ship with a large crew working for extended periods at sea. When a customer needs data, it can be several months before a traditional supplier has availability and costs are uncontrolled. These challenges inspired the creation of XOCEAN, a more efficient and safer method of data delivery. Instead of using a conventional ship, we have created a robotic platform to harvest high-resolution ocean data while being remotely controlled via satellite. This innovative approach not only reduces the time and cost associated with data delivery but also significantly lowers the environmental impact.
What does it feel like to put your vision into practise?
Putting our vision into practice has been incredibly rewarding. At XOCEAN, we’ve created a more sustainable and environmentally friendly alternative to traditional ship-based methods of collecting data. Our Uncrewed Surface Vessels (USVs) reduce the environmental footprint of data collection, while also enhancing safety by keeping pilots and crews onshore. By eliminating the need for large crews at sea, we’ve opened doors for greater gender diversity in the maritime sector, operating at 31 times the industry average for female seafarers. Over the next five years, we’ll avoid 5 million seafarer exposure hours. We are revolutionizing ocean data delivery, and making significant strides toward a safer and sustainable future
How does it feel to be an Elevation Award finalist?
It feels great to be nominated, we are proud to see our team’s talent and success recognised.
What, in your opinion, specifically led to this nomination?
This Elevation award identifies companies that are fast-growing, with significant potential to continue to scale globally and XOCEAN is a great example of this.
Our first sale was only 5 years ago and we have now operated in 23 jurisdictions across Europe, North America, and Asia-Pacific. We continue to experience rapid growth, driven largely by the major expansion of the international offshore wind market and the need for clean, renewable energy globally. We have harvested over 4 million gigabytes of high-quality data and have already supported the development of over 45 GWs of new offshore wind capacity. We have expanded our global footprint – most recently establishing a state-of-the-art technical centre in Australia and secured €30 million in investment. Over the past year we have grown our USV fleet to 30 and doubled our headcount to 300 with plans to double this again within two years.
Start-ups are traditionally difficult to get off the ground – how would you advise overcoming the many obstacles that can emerge?
Building a strong team of cross functional expertise is invaluable. It is critical then to work with the team in ensuring that everyone is aligned on vision and focused on the right things. This clear focus and talented team allows successful transition through challenges as they arise. Enterprise Ireland prioritise starts-ups – how has support from EI impacted the global vision of your company?
The team at Enterprise Ireland have played a pivotal role in their support of XOCEAN’s growth through networking opportunities and professional consulting programs, including market research and discovery as well as startup leadership programs. Enterprise Ireland have also continuously supported us as we raised funding throughout our scaling journey.
Business & Finance Awards Elevation Award
The Elevation Award category was launched in 2018, in partnership with Enterprise Ireland. This award recognises Irish companies that are fast-growing and with significant potential to continue to scale globally. The Award complements the well-established Company of the Year Award.
Previous winners of the prestigious prize include Portwest in 2018, Wisetek in 2019, Aerogen in 2020, APC Ltd. in 2021, FINEOS in 2022, and Fenergo in 2023.
Attend the Awards
The award ceremony holds an important date for Irish and international business and political leaders as we recognise those paving the way for business excellence on the island of Ireland and beyond. Given demand, table availability is limited. For Partnership opportunities contact brian.kearns@businessandfinance.com.
For more information on the 50th annual Business & Finance Awards see www.businessandfinanceawards.com