COVE's 2024 Ocean Enterprise Report Reveals Significant Growth in Canada’s Marine Sector
Canada’s New Blue Economy Flourishes as Innovation, Employment, and Revenue Surge in Canada’s Ocean Enterprise, with Promising Developments in AI and Sustainability.
The Canadian Ocean Enterprise has seen remarkable growth, as revealed in COVE’s newly published 2024 Ocean Enterprise White Paper. This report sheds light on the rapid evolution of Canada’s ‘New Blue Economy,’ a business cluster driven by knowledge-based activities that harness marine resources for economic growth. These companies are playing an increasingly crucial role in addressing global challenges like food security, climate change, and energy provision.
The 2024 Ocean Enterprise White Paper outlines substantial growth across key areas—company numbers, revenue, and employment—since the first study conducted in 2020.
From 2022 to 2024, the number of Ocean Enterprise companies surged from 160 to 209, marking a 31% increase. This continues the upward trend observed between 2020 and 2022. Nova Scotia, in particular, emerged as a leader, with its Ocean Enterprise companies growing from 49 to 75—a 53% rise, now housing one in three of Canadian companies identified under this review. While most provinces saw gains, Alberta remained steady.
Key findings from the 2024 report include:
- British Columbia, Newfoundland and Labrador, and Nova Scotia account for 75% of Canada’s Ocean Enterprise.
- Canada's Ocean Enterprise revenue is estimated between $1.8 billion and $2.0 billion, with employment exceeding 8,000 people—representing a 33% increase in jobs and 58% revenue growth since 2020.
- Artificial Intelligence is primarily used for Data Analysis & Management, and Research & Development, with expected growth into environmental monitoring and predictive maintenance, though challenges like ROI uncertainty, technical expertise gaps, and data privacy concerns may slow adoption.
- The maritime sector continues to face challenges in attracting venture capital due to long development cycles and high capital costs, which are misaligned with investor expectations.
"Canada’s Ocean Enterprise is demonstrating exceptional growth, with increased innovation and job creation reflecting the significant potential of this sector," -- said Melanie Nadeau, Chief Executive Officer of COVE. "The 2024 White Paper emphasizes the sector’s resilience and continued progress, even amid global challenges such as the pandemic. With advancements in AI and a strong foundation in marine technology, Canada is well-positioned to lead the global Blue Economy and drive its evolution towards greater sustainability and prosperity. COVE remains committed to advancing innovation and enhancing our global impact in marine technology.”
COVE began tracking the Ocean Enterprise sector in 2020, releasing its first benchmark study, followed by a 2022 bi-annual report. Prior to this, there was no standardized way to measure the scope of companies driving marine innovation in ocean sensing and monitoring, a key contributor to industries across the Blue Economy.
The study aligns with methodologies used by the Marine Technology Society (MTS) in the United States and the Society for Underwater Technology (SUT) in the United Kingdom, supporting global efforts to assess the impact of marine technology on the Blue Economy.
For more details and to access the full report, visit https://coveocean.com/research-insights/canadian-ocean-enterprise/
Greensea IQ Awarded $1.9 Million NAVSEA Contract for Coupled ROV and Manipulator Control
Greensea IQ, a leader in ocean robotics technology, has announced a strategic partnership with Woods Hole Oceanographic Institution (WHOI) to provide greater diversity of access and accelerate scientific innovation and discovery in the ocean. This operational collaboration with WHOI’s Deep Submergence Laboratory (DSL) and the National Deep Submergence Facility (NDSF), hosted at WHOI, combines Greensea IQ's class-leading expertise in navigation, robotics, remote operations, and user interface systems with WHOI's outstanding reputation as a world leader in deep-sea exploration capabilities and expertise in the design and construction of underwater systems for scientific research. The partnership will create scalable systems to support a wide range of oceanographic research, increasing access to the deep ocean. In addition, technologies and systems developed under this partnership will focus on improving operational efficiency, increasing compatibility with existing systems, and creating and supporting the tele-operation of ROVs.
The primary objective of the partnership between Greensea IQ and NDSF is to create an environment of open collaboration that will facilitate the integration of existing as well as new subsea platforms, that will benefit all of science and discovery in the ocean. Greensea IQ’s open architecture platform will provide the backbone for these developments. The adoption of common standards, tools, and technologies that are shared throughout the community via NDSF will modernize and strengthen the deep submergence capability within the US.
“Two technology leaders, WHOI and Greensea IQ, are collaborating to break down barriers that often hinder innovation, leveraging their combined strengths to advance ocean research,” says Ben Kinnaman, Greensea IQ CEO. “Greensea IQ has a rich history within the scientific community with the adoption of OPENSEA by several research institutions such as MBARI and Schmidt Ocean Institute. By extending OPENSEA, our open architecture platform, further into the science community via NDSF, Greensea IQ will make a higher impact that will support a more diverse community of scientists and researchers.”
Andy Bowen, Director of the NDSF and a Principal Engineer at WHOI adds: “Our experience at the forefront of ocean science and exploration pairs well with Greensea IQ’s mission to expand a common set of foundational tools that enable broader and more flexible access”. Bowen goes on to add, “For more than half a century, WHOI has pioneered deep submergence technology. Forging this collaboration with Greensea IQ is a natural continuation of that legacy, one that will power greater reach and impact for the tools that form the basis of our current and future understanding of the ocean that serves as our planet’s life-support system.”
Kinnaman adds, “Systems and technologies that come out of this alliance will be ready to take on the challenges that face us as we turn to the ocean to solve our generation's most complex problems. We are humbled to be chosen to work alongside such a revered institution.”
Greensea IQ and Woods Hole Oceanographic Institution establish a partnership to develop future vehicles and technologies supporting scientific research
Greensea IQ, a leader in ocean robotics technology, has announced a strategic partnership with Woods Hole Oceanographic Institution (WHOI) to provide greater diversity of access and accelerate scientific innovation and discovery in the ocean. This operational collaboration with WHOI’s Deep Submergence Laboratory (DSL) and the National Deep Submergence Facility (NDSF), hosted at WHOI, combines Greensea IQ's class-leading expertise in navigation, robotics, remote operations, and user interface systems with WHOI's outstanding reputation as a world leader in deep-sea exploration capabilities and expertise in the design and construction of underwater systems for scientific research. The partnership will create scalable systems to support a wide range of oceanographic research, increasing access to the deep ocean. In addition, technologies and systems developed under this partnership will focus on improving operational efficiency, increasing compatibility with existing systems, and creating and supporting the tele-operation of ROVs.
The primary objective of the partnership between Greensea IQ and NDSF is to create an environment of open collaboration that will facilitate the integration of existing as well as new subsea platforms, that will benefit all of science and discovery in the ocean. Greensea IQ’s open architecture platform will provide the backbone for these developments. The adoption of common standards, tools, and technologies that are shared throughout the community via NDSF will modernize and strengthen the deep submergence capability within the US.
“Two technology leaders, WHOI and Greensea IQ, are collaborating to break down barriers that often hinder innovation, leveraging their combined strengths to advance ocean research,” says Ben Kinnaman, Greensea IQ CEO. “Greensea IQ has a rich history within the scientific community with the adoption of OPENSEA by several research institutions such as MBARI and Schmidt Ocean Institute. By extending OPENSEA, our open architecture platform, further into the science community via NDSF, Greensea IQ will make a higher impact that will support a more diverse community of scientists and researchers.”
Andy Bowen, Director of the NDSF and a Principal Engineer at WHOI adds: “Our experience at the forefront of ocean science and exploration pairs well with Greensea IQ’s mission to expand a common set of foundational tools that enable broader and more flexible access”. Bowen goes on to add, “For more than half a century, WHOI has pioneered deep submergence technology. Forging this collaboration with Greensea IQ is a natural continuation of that legacy, one that will power greater reach and impact for the tools that form the basis of our current and future understanding of the ocean that serves as our planet’s life-support system.”
Kinnaman adds, “Systems and technologies that come out of this alliance will be ready to take on the challenges that face us as we turn to the ocean to solve our generation's most complex problems. We are humbled to be chosen to work alongside such a revered institution.”
MacArtney Asia Appointed as Regional Reseller for Teledyne RD Instruments ADCP and DVL Products
MacArtney Asia, a leading provider of underwater technology solutions based in Singapore, is proud to announce its appointment as the regional reseller for Teledyne RD Instruments’ Acoustic Doppler Current Profilers (ADCP) and Doppler Velocity Log (DVL) products. This strategic partnership will enhance the availability and support of Teledyne RDI’s advanced ADCP and DVL technology across the region.
The MacArtney Group is a global supplier of underwater technology products and systems, specializing in the design, manufacture, sales, and service of a wide range of systems to oil & gas offshore operators, ROV, diving, and survey contractors, the renewable energy sector, ocean science institutes, and navies around the world. The company offers a variety of advanced and reliable products and system solutions, spanning from subsea cables and connectors to state-of-the-art integrated packages, including fibre optic telemetry, underwater cameras and lights, oceanographic instruments, marine winch systems, and remotely operated, towed vehicles. All products supplied are designed and tested to provide high quality, efficiency, and reliable performance in the challenging underwater environment.
“We are thrilled to be appointed as the regional reseller for Teledyne RDI ADCP and DVL products,” said Anthony Gleeson, Managing Director at MacArtney Asia. “This partnership aligns with our commitment to providing our customers with the most advanced and reliable underwater technology solutions. Teledyne RDI’s ADCP and DVL products are renowned for their precision and durability, and we are excited to bring these exceptional products to our clients in the region.”
Teledyne RDI is a world leader in the design and manufacture of ADCPs and DVLs, which are used for measuring water current velocities over a depth range, and velocity of underwater vehicles using the Doppler effect. Their products are widely used in oceanographic research, environmental monitoring, defense, and various industrial applications.
Grant Jennings, Product Line Director of Teledyne RDI, is also excited about the new partnership. “Teledyne RDI is pleased to have an organisation with such a great reputation and technical capability representing our products in the region, said Grant. “RDI has 40 years of sales into South East Asia, and we feel Anthony and his team are the best partner to look after our existing customers and help grow our market share. With a range of new products being released in 2024 and 2025, the timing is perfect to bring MacArtney onboard.”
RBR Collaborates with Alcatel Submarine Networks to support SMART cable innovation
RBR is pleased to announce an exciting collaboration with global subsea communication experts Alcatel Submarine Networks (ASN) and seismic instrumentation leaders Nanometrics for the development of advanced innovative solutions as part of ASN’s Climate Change solution. This collaboration sets a new benchmark for subsea cable technology, combining cutting-edge innovations and unparalleled expertise for the Scientific Monitoring and Reliable Telecommunications (SMART) cable market.
ASN, with an existing installed base of over 800,000 km of optical submarine cables worldwide, selected RBR as a leader in precision environmental sensors with a proven track record of over 50 years. A specialised team at RBR worked closely with ASN engineers to develop and refine the simplicity of the system provided, which is based on our well-proven BPR|zero technology.
The custom variant of the existing BPR|zero, intended for submarine cable usage, has been miniaturised and also ruggedised in order to handle the extreme environment experienced during normal cable-laying ship deployments. The system is intended to be housed adjacent to a normal repeater housing and used with a simplified interface with a minimal command set.
All components are tested to far greater than normal operating cycles, given the intended harsh deployment conditions and 25-year undersea life requirement, but still provide the same A-zero-A drift correction as the elder sibling whose output has a resolution of 10ppb (1Hz sampling period) and is therefore suitable for tsunami monitoring and subsidence detection.
Greg Johnson, President of RBR, stated “This is another example where the proven technology and in-house expertise of the team at RBR, leads to innovative and comprehensive solutions for our end clients. Working closely with the team at ASN during development has been key in the successful outcome of the first phase of the project, and we look forward to this collaboration developing further in delivering additional SMART solutions.”
ASN is contracted to design, manufacture, and deploy two pioneering SMART cable projects with deployment scheduled for 2026. These SMART cable systems will not only enhance underwater data connectivity but also provide critical real-time monitoring of seismic, tsunami, and environmental events.
For more details on the project visit ASN or please reach out to the team at [email protected]
STR hires Maxime Even as new GM in Singapore
Subsea Technology & Rentals (STR), a leading global provider of advanced sensor technology and solutions for the offshore energy and marine science markets, has welcomed Maxime Even as the new General Manager of its Singapore Technology and Service hub.
With over two decades of experience in the offshore survey industry, Even will play a key role in supporting STR’s clients across Asia-Pacific (APAC) and the Middle East, while his background in marine operations, business development and project management will help drive growth and expand STR’s regional operations and client base.Jason French, STR’s Regional Director for APAC, said: “With his impressive experience in the offshore survey market, Maxime brings a wealth of regional knowledge to our hub in Singapore and understands the unique challenges faced by our clients. The APAC region presents significant opportunities, particularly in offshore renewables, and we know Maxime will contribute greatly to our continued success in this dynamic and rapidly growing market.”
Established more than 20 years ago, STR operates globally and serves clients in the offshore energy and marine science markets, helping them acquire mission-critical marine data through the provision of advanced subsea sensor technology, solutions and services.
Kongsberg Discovery names Sandeep Sandhu as the new Country Manager for the US and Canada
Sandeep Sandhu has held the position as General Manager for Kongsberg Discovery Canada since August 2023. In his new role he will also oversee Kongsberg Discovery’s activities in the USA.
Kongsberg Discovery develops technology to ensure sustainable management of marine resources, monitor climate change and critical infrastructure, and safeguard national security. It is a business area within the KONGSBERG group and has been present in Canada and the US for almost 30 years.
The USA company is also changing its name from Kongsberg Underwater Technology Inc
(KUTL) to Kongsberg Discovery US, LLC.
Plans for growth
President Martin Wien Fjell of Kongsberg Discovery is pleased to see an internal candidate take on more responsibility for a great region.
"Sandhu and his leadership team have expanded the business in Canada. I am confident he is the right person to lead Kongsberg Discovery and grow the business in the US, as well as continuing to develop the market in Canada," he says.
Prior to joining Kongsberg Discovery, Sandhu has extensive leadership experience in the technology sector. He entered the new role on September 1.
“He has relevant expertise and the right mindset, and I look forward to continuing to work with him in his leadership to deliver on our ambitious targets,” Fjell says.
Technology for discovering the secrets of the ocean
Kongsberg Discovery develops technology to ensure sustainable management of marine resources, monitor climate change and critical infrastructure, and safeguard national security. The technology and solutions are aimed at areas such as offshore operations, fisheries, marine research, maritime operations, ocean-based energy production, as well as the navy.
Sandhu emphasises the significant potential of the Canadian and US markets for the company. He already has a plan to expand Kongsberg Discovery's market share in his new region.
"The company has significant potential in both Canada and the US, and I am excited for what our teams will be able to deliver. Being able to spend more time in the US and getting to know our customers, partners, and our team in the weeks to come will be a key priority. I'm grateful for this opportunity," he says.
Kongsberg Discovery operates within segments and technologies with a particularly wide variety of stakeholders. The company operates within both commercial and defence markets, and in the intersection between the academic and commercial world.
A strong team in the US
Sandeep Sandhu was appointed as the interim general manager of KUTL, now Kongsberg Discovery US, LLC, in July of this year. The head office is located in Lynnwood, Seattle, and there are about 35 people based in this office, in addition to a team throughout the US. Sandhu is eager to take on this role and to further develop the ambitious plans set by the team.
“I have had this responsibility for just a few weeks, so I am eager to meet more people and to delve deeper into numerous issues. The American team is robust, and I believe that together we will achieve great success moving forward,” he states.
Sandhu will continue to serve as general manager of Kongsberg Discovery Canada. He will collaborate with the management team and the board to determine the best organizational structure for the market and customers.
Motive Offshore acquires Acteon Group’s Aquatic
Motive Offshore Group, which specialises in rental, inspection and engineering equipment for the energy sector, announces its acquisition of Aquatic, a global leader in laying and retrieving flexible products from the seabed, previously owned by marine energy and infrastructure services company Acteon. The deal will increase Motive’s rental fleet and provide a full back-deck offering globally.
Motive will undertake Aquatic’s operations in the UK, Singapore, the US, Australia, and Norway, marking a significant milestone in its global growth strategy. The deal, in response to burgeoning market demand, will provide customers with access to a wider range of flex lay equipment for offshore telecoms, offshore wind farms, and oil and gas fields. Bolstered by investment from H2 Equity Partners in 2022, the acquisition aligns with Motive’s continued ambitions to target strategic locations, diversify its rental fleet, and generate 75% of revenue from renewables by 2025. The business is on track with this target, achieving 50% of renewable revenue YTD in 2024.
As part of the agreement, Motive will also acquire and invest in Aquatic’s facility in Peterhead, Scotland. The hub will become an additional base in Scotland for Motive, alongside its Boyndie and Kintore facilities.
Dave Acton, Chief Executive Officer of Motive, comments, “As an established and longstanding offshore business, we have valued Aquatic as a partner for some time, working closely together over the past couple of years. Its highly skilled engineering team and quality equipment make it a perfect fit for our business, both on a cultural and operational level. This move demonstrates our commitment to delivering specialist equipment to our customers in Scotland through investing in new facilities and in international locations where they need our services. We are proud to combine our teams to draw greater efficiencies for our customers, providing a one-supplier solution.”
This marks the latest in a series of strategic acquisitions by Motive, including growing its team to a headcount of now 335 people and operating in over 52 locations. The combined business will generate revenues of over £65m, a 97% increase since the time of H2’s investment in July 2022, further showcasing Motive’s commitment to its international growth and diversification plans by applying offshore resources, cross-sector collaboration, and innovation to the energy sector.
Brice Bouffard, Chief Executive Officer of Acteon added: “This transaction represents the initial step in aligning our portfolio with Acteon's long-term strategic goals. Aquatic has been an integral part of our business, and we are confident that it will continue to flourish and provide exceptional value to its global customers under Motive’s ownership. This divestment enables Acteon to concentrate on our core strengths, driving innovation and investments where we can have the greatest impact. We remain committed to optimising our portfolio to better serve our customers and stakeholders as we navigate the evolving energy landscape.”
CSignum Introduces EM-2S: A Breakthrough in Wireless Under-Ship Monitoring
CSignum Introduces EM-2S: A Breakthrough in Wireless Under-Ship Monitoring
CSignum, a leader in underwater and underground wireless data networking, is excited to announce the launch of its latest innovation, the EM-2S. This new solution is purpose-designed to be mounted on marine vessels below the waterline providing essential communications for advanced monitoring functions. Traditional wireless networks do not work underwater; CSignum’s patented electromagnetic field signaling (EMFS) crosses the divide enabling underwater sensor data to be communicated to networks above the surface. For the first time, the shipping industry, navies and coastguards are able to conduct comprehensive monitoring below the water, with wireless communications to the deck and networks above.
The innovative capabilities of the EM-2S ship-mounted solution provides two-way data communications to monitor various areas:
- Track propulsion system wear, strain, and efficiency to optimize performance.
- Detects and notifies of critical security threats to maritime assets.
- Enables precise control and release of underwater objects.
- Facilitates seamless data communication with dockside monitoring systems.
- Monitors environmental conditions to ensure compliance and sustainability.
Presently, monitoring is predominantly conducted through manual inspections and such approaches lack the capability to provide continuous, real-time data, making it challenging to promptly address emerging issues. CSignum’s EM-2S significantly improves monitoring by offering a wireless, cable-free solution that overcomes the limitations of traditional methods and offers a way to monitor dynamic operating conditions.
“The EM-2S is a game-changer for the maritime industry, providing a reliable, cost-effective, and environmentally friendly solution for under-ship monitoring,” said Jonathan Reeves, CEO at CSignum. “By enabling continuous, real-time data collection, we empower ship operators to address potential issues before they become major problems, enhancing operational efficiency and reducing environmental impact.”
The EM-2S system includes the following key features and benefits:
- Wireless Data Transmission: Utilizing advanced electromagnetic field signaling (EMFS), the EM-2S ensures reliable data transmission from the hull-mounted sensors to a topside EM-2 unit, eliminating the need for cumbersome cabling.
- Comprehensive Monitoring: The EM-2S can be integrated with a variety of sensors to monitor environmental parameters and security to provide a holistic view of the ship’s hull.
- Real-Time Data: Continuous monitoring and real-time data transmission enable proactive maintenance, reducing the risk of severe damage and costly repairs.
- Cost Efficiency: By reducing the need for manual inspections and minimizing installation and maintenance costs, the EM-2S offers a cost-effective solution for ship hull monitoring.
- Minimal Environmental Impact: The non-intrusive design of the EM-2S ensures minimal disruption to marine life and ecosystems, supporting sustainable maritime operations.
Innovative wave energy project receives green light from EU
Innovative wave energy project receives green light from EU
A €19.6 million partnership project, which aims to be the stepping stone towards large scale wave energy commercialisation, has received formal go-ahead from the European Union.
WEDUSEA is a pioneering collaboration between 14 partners, spanning industry and academia from across the UK, Ireland, France, Germany and Spain. It is co-ordinated by the Irish company OceanEnergy.
The project is co-funded by the EU Horizon Europe Programme and by Innovate UK, the UK’s innovation agency.
In common with all other Horizon Europe projects, WEDUSEA has undergone a comprehensive independent review by EU appointed external experts following its initial project design period to ensure the technical designs and all plans, budgets and protocols are fully in place and approved.
The green light has now been received from the EU and the project can proceed to its next stage.
The WEDUSEA project will demonstrate a grid connected 1MW OE35 floating wave energy converter at the European Marine Energy Centre (EMEC) wave energy test site at Billia Croo in Orkney, Scotland. A rigorous technical and environmental demonstration will happen over a two-year period in Atlantic wave conditions.
OceanEnergy has developed the OE35, which is the world’s largest capacity floating wave energy device. Floating on the ocean’s surface, the device incorporates a trapped air volume, with the lower part open to the sea. Wave pressures at the submerged opening cause the water to oscillate and drive the trapped air through a turbine to generate electricity. Electricity generated will be exported to the UK grid via EMEC’s subsea cables.
Prof Tony Lewis, Chief Technical Officer at OceanEnergy, says: “Wave energy is the world’s most valuable renewable resource with around 30TWh of potential annual production waiting to be harnessed. That’s almost ten times Europe’s annual electricity consumption. However, this potential has yet to be fully realised. The project will demonstrate that wave technology is on a cost reduction trajectory and will thus be a stepping stone to larger commercial array scale up and further industrialisation. We predict that the natural energy of the world’s oceans will one day supply much of the grid.”
The WEDUSEA project has three phases. The first phase is the initial design and build of a device suited to the ocean conditions at EMEC’s Billia Croo wave energy test site. This will be followed by the demonstration at the site, lasting two years. The final phase will be commercialisation and dissemination which sees the capitalisation and exploitation of the results.
Matthijs Soede from the European Commission said at the start of the project: “WEDUSEA is set to be a major catalyst for the wave energy industry, unlocking the full potential of this exciting renewable technology.
Prof Lars Johanning of University of Plymouth says: “The WEDUSEA partnership has worked hard to ensure that all detailed designs and planning are robust, to prove that the project is viable and that the project will be delivered within budget. Now we have received the green light from the EU, it’s all systems go!”
The wave converter build starts in the second half of 2024 and the demonstration at EMEC is expected to begin in June 2025.
Disclaimer:
Funded by the European Union. Views and opinions expressed are, however, those of the authors only and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for them.