OceanWell, a water technology company, announced it has raised $11 million in Series A funding to advance its innovative modular deep-sea water farm technology and launch California’s first water farm pilot in partnership with the Las Virgenes Municipal Water District (LVMWD). This funding round was led by Kubota Corporation, a century-old leader in water infrastructure manufacturing, alongside participation from Jon Hemingway’s family office of Carrix Ports and Charles McGarraugh, former head of metals trading at Goldman Sachs.
Revolutionary desalination technology with deep-sea pods
OceanWell is developing modular deep-sea water farms composed of pods that harness natural hydrostatic pressure at depths of 400 meters to power reverse osmosis desalination. Each pod can produce up to one million gallons of fresh water daily, and the modular design allows projects to scale based on regional demand. This technology filters out salts, bacteria, viruses, pesticides, and PFAS, producing ultra-clean water. Built for durability in harsh underwater environments, OceanWell’s design also reduces energy consumption by up to 40% compared to traditional desalination methods, avoids marine life harm, and eliminates toxic brine discharge.
Addressing the growing global water crisis
The rising demand for clean water outpaces supply, with experts projecting that 5 billion people could lack access to safe drinking water by 2050. Factors such as increased agricultural and industrial needs, compounded by climate change impacts like droughts and flooding, drive the crisis. OceanWell’s pods aim to meet this challenge, with each producing one million gallons of potable water per day. The company’s first water farm is being developed in California, OceanWell’s home state.
