Ocean data provider Xocean is set to expand its operations in Louth, Ireland, creating 300 new jobs. The company, which specializes in marine technology, has already doubled its workforce to over 200 in the past year and aims to further increase it to 500 within the next two years. This expansion comes as the offshore wind market continues to grow, driven by the increasing demand for clean and renewable energy worldwide.
Xocean CEO James Ives highlighted the company’s rapid growth, largely attributed to the expansion of the international offshore wind market. Xocean’s success is also fueled by the global need for clean and renewable energy sources. The company has developed Uncrewed Surface Vessels (USVs), which are marine robotics used for seabed mapping and ocean environment monitoring. These USVs serve Xocean’s international customer base, including government agencies.
In addition to the job creation, Xocean recently opened a technical center where engineers and robotic experts will ensure that the vessels are serviced upon their return from offshore missions around the world. This investment in infrastructure will support the company’s continued growth and ensure the efficient operation of its marine robotics.
Xocean was established in Ireland in 2017 and has since expanded its presence to the UK, the US, Canada, Norway, and Australia. The company’s commitment to global expansion reflects the growing importance of ocean data and the increasing demand for innovative solutions in the maritime sector.
To support its growth plans, Xocean secured a €8m investment in 2021, led by VentureWave Capital. This funding will enable the company to accelerate its expansion and capitalize on the opportunities presented by the growing ocean economy.
According to a 2016 report from the OECD, the ocean economy is projected to be worth more than $3tn (€2.6tn) by 2030. This significant value is primarily driven by the demand for renewable energy development worldwide. As countries strive to reduce their reliance on fossil fuels and transition to more sustainable energy sources, the offshore wind market is expected to continue its rapid growth.
Xocean’s expansion in Louth is a testament to Ireland’s position as a hub for maritime innovation and technology. The country’s strategic location, coupled with its strong research and development capabilities, makes it an attractive destination for companies operating in the marine sector.
The creation of 300 new jobs in Louth will bring significant economic benefits to the region and contribute to Ireland’s overall growth. It also demonstrates Xocean’s commitment to investing in local talent and supporting the development of a skilled workforce.
As Xocean continues to expand its operations and contribute to the offshore wind market, it is poised to play a pivotal role in the global transition to clean and renewable energy. With its innovative marine robotics and commitment to sustainability, Xocean is well-positioned to capitalize on the opportunities presented by the growing ocean economy.
In conclusion, Xocean’s announcement of 300 new jobs in Louth reflects the company’s rapid growth and the increasing demand for ocean data in the offshore wind market. With its specialized marine robotics and global presence, Xocean is well-positioned to capitalize on the opportunities presented by the growing ocean economy. This expansion will not only bring economic benefits to the region but also contribute to Ireland’s position as a leader in maritime innovation and technology.