The Ocean’s New Secret Agent: Saildrone ⛵️

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Author

Finlay Williams
July 24, 2024

2 minute wacky businesses, you can tell your buddies about 🧠

Today’s Unconventional Empire fits into a slightly different catagory. Ocean research, defence and military operations… Let me walk you through Saildrone, California-based company that's making waves in the world of ocean data collection. Founded in 2012 by Richard Jenkins, Saildrone’s fleet of unmanned surface vehicles (USVs) have already sailed over a million nautical miles and spent more than 36,000 days at sea.

Unsurprisingly Saildrone doesn’t have a very high search volume

Land speed records to autonomous boats 🧐

Saildrone uses wind and solar-powered drones to gather oceanic data for everything from climate research to commercial use. Saildrone also plays a superhero role in national defence. Their USVs (unmanned surface vehicles) are like the James Bond of the seas, packed with advanced sensors and AI to sniff out illegal activities and boost maritime security. It’s ocean science meets high-tech espionage, not to mention they’re pulling in over $30 million a year.

To me, the most fascinating part of Saildron is the use case for their products. The drones can detect illegal activities, such as smuggling and unauthorized fishing, enhancing maritime domain awareness. Saildrone has also secured huge government contracts, including partnerships with the US Navy, highlighting their pivotal role in national defence strategies. Their technology supports large-scale, high-stakes government operations on a daily basis.

What are the nuggets? 💎

⛵️ Origin: Richard Jenkins, an Englishman with a knack for mechanical engineering, founded Saildrone in 2012. The idea was born from his decade-long R&D pursuit of the land speed record, where he developed the patented wing technology now used in Saildrone's USVs (this is awesome).

⛵️ Pivotal moment: In 2020 Saildrone performed a demonstration for the US Coast Guard, the first important interaction with the US government, starting a long complex partnership between the two entities.

⛵️ Awesome Marketing Play: Their first annual Carbon Impact Report in 2024 highlighted how their technology avoided a whopping 99.9% of comparable emissions, turning a typically dry report into a powerful marketing tool showcasing their environmental impact.

Figures laid out 💵

⛵️ Annual Revenue: Estimated between $30M and $40M
⛵️ Team Size: Around 250-500 employees
⛵️ Customer Base: Includes NOAA, NASA, and various defense agencies
⛵️ Total Funding: $190M
⛵️ Valuation: Between $500M and $1B

Saildrone Founder

What’s the cherry on top? 🍒

These guys have created somewhat of a monopoly in this area, if they continue to grow they will be able to control the data around 70% of the world’s mass (the ocean). The R&D to get to a position similar to Saildrone would take years to do. The position they’re in is remarkably strong and potentially dangerous if it ever got into the wrong hands…

Final thoughts 💭

Saildrone is an awesome business that I wish we could find out more about. Naturally, government contracts are relatively secretive, and there isn’t much to be found. Either way, the journey from land speed record to autonomous military boats is a cool find.

That’s pretty awesome in my eyes.

See ya tomorrow folks! 👋
Fin

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