Kubota Corporation, the family office of Jon Hemingway of Carrix Ports, and Charles McGarraugh, former head of metals trading at Goldman Sachs, participated in the round.
OceanWell is developing modular deep-sea water farms made up of pods that harness natural hydrostatic pressure at depths of 400 meters for reverse osmosis desalination. Each pod can produce up to one million gallons of fresh water daily, and the modular design allows for scalable projects based on demand. The technology ensures ultra-clean water by filtering out salts, bacteria, viruses, pesticides, and PFAS, while its robust components are engineered for durability in harsh deep-sea environments. OceanWell's technology reduces energy consumption by up to 40%, while protecting marine life and eliminating toxic brine disposal.
The company’s first water farm is being developed in California, its home state.
"At OceanWell, we've developed a new technology to rehydrate a drying world. Our goal is to provide utility-scale, reliable and sustainable freshwater solutions that can supply clean drinking water to communities across the globe," said Robert Bergstrom, founder and CEO of OceanWell. "We're grateful to our investors whose collective expertise across water technology, manufacturing and infrastructure project development will be invaluable to our company, and particularly as we look to scale up operations in the coming months."
"One of Kubota's goals is to provide comprehensive solutions for the entire 'water circulation loop' from water production and supply to wastewater treatment and reclamation. OceanWell's innovative technology, which can provide a stable long-term supply of potable water to water utilities in water-scarce regions, is indispensable for achieving this goal," said Eiji Yoshioka, Director and GM of the Water and Environment Infrastructure Consolidated Division of Kubota.
Last year, OceanWell partnered with LVMWD to establish California's first water farm, aimed at supplying fresh drinking water to a region recovering from years of record-breaking drought. Previously, the company completed prototype testing at the US Navy's Deep Ocean Simulation Facility. OceanWell is supported by a working group of 24 state water authorities in California and aims to build 15 water farms around the world.
