Season 1 | Episode 1

Justin Manley:

I’ll caveat my perspective. These days, my time is spent between working with a small U.S. company on Navy and Department of Energy projects, being a venture partner in an impact fund focused on climate and ocean innovation, and working with a philanthropy that deploys money to advance technologies aimed at improving ocean health or conservation. So, I’m shaped by that cross-section.

From a tech perspective, the barriers to entry for innovators and entrepreneurs are coming down. We now have uncrewed vehicles that cost $100,000, a fraction of what they used to. These tools are becoming more scalable and accessible, which means they are easier to produce and use.

A good example of this is the U.S. Navy, which is developing USVs for surveillance. These are expensive boats operated by highly trained personnel, but scalable and accessible robotics are making this capability available to smaller nations with fewer resources. This trend excites me the most.

Demand signals are also evolving. For example, the 30 by 30 initiative aims to protect 30% of the ocean by 2030, up from 6% today. That’s a fivefold increase, but budgets aren’t likely to increase fivefold. This creates a demand for innovative, affordable solutions. Another example is offshore energy. A single oil rig might generate as much energy as 1,000 wind turbines. But the budget for maintenance and monitoring isn’t going to increase proportionately, so we need to do things differently.

Ocean tech is becoming more affordable, but also more capable. Technologies like cell phone advancements and software innovations are helping drive this transformation.

Ben Garvey:

Right, and I wanted to touch on that. What are the enabling technologies? You’ve talked about military and energy drivers, but what’s enabling the response to this demand?

Justin Manley:

Yeah, so the fundamental physics of water and networking remain a challenge. Acoustics will only do so much, and I don’t anticipate breakthroughs in physics, but we are seeing innovations in connectivity, such as Starlink providing proper internet on the ocean’s surface and CubeSats offering satellite networks. These technologies weren’t developed specifically for the ocean, but we’re benefiting from them.

On the sensing front, inspired by biomedical industries, we’re moving toward solid-state sensors, which are more reliable than wet chemistry sensors. Optical sensors are also making strides, which is exciting. These tools may not always be as accurate as traditional instruments, but because they are cheap and ubiquitous, we can transition from data scarcity to data abundance.

In platform development, we’re benefiting immensely from smartphone technology. Ocean robots are now using smartphone processors and cameras, making them affordable. The investment in autonomous cars has pushed processor technology, which also benefits ocean robots. Add to that the advantages of 3D printing, cheaper solar panels, and innovations from recreational boating, and we have the perfect storm of advancements making ocean tech more affordable and accessible.

Ben Garvey:

That’s exciting. Do you think we’ll reach the point where sensor costs decrease dramatically, and we see a massive increase in their deployment?

Justin Manley:

I think we’re on the right track, but business models are still evolving. For instance, we might see sensors drop in cost by three to four orders of magnitude and platforms improve by one to two orders of magnitude in efficiency. But demand signals will drive that. For example, if you’re monitoring marine protected areas or doing carbon monitoring, a new market could emerge where platforms deployed for one purpose can also serve other monitoring roles. We need to experiment with business models to make this work.

Ben Garvey:

That’s fascinating. Is there significant investment in ocean tech, similar to the early internet days in Silicon Valley?

Justin Manley:

Yes, we’re seeing significant investment in ocean technology, but it’s fragmented. There are funds focused on ocean climate issues, others on broader ocean innovation, and even some restricted to specific regions. Defence is also a huge driver, and there’s significant money flowing into defence-focused ocean tech companies.

However, the ocean industry has a longer product development and sales cycle than other industries. It takes time to develop prototypes and find customers, so investors and entrepreneurs need to have realistic expectations. We might see longer lifecycle funds and even different types of capital, like private equity or debt finance, tailored to the ocean tech industry.

Ben Garvey:

That’s great insight. So, what gets you excited and motivated every day?

Justin Manley:

I’m a techno-optimist and a capitalist, and I believe in the power of technology and markets. I see acceleration, innovation, and growth in both. When you layer on the focus on ocean health and conservation, it’s a really exciting time to be in the field. I spend my days talking about making money, innovating technology, and making the ocean healthier—all of which are incredibly motivating.

Ben Garvey:

That’s fantastic. Thank you so much for your time, Justin. It’s been a fascinating discussion.

Daniel (Host):

This episode was produced by me, Daniel, at Enginuity Studios. If you have a story to tell about life within the marine sector or have an engineering challenge you want to share with one of our experts, please reach out to info@enginuityinc.ca. To learn how you can overcome your organization’s harsh environment challenges, visit our website at enginuityinc.ca. We’d love to hear from you. Until next time, fair winds and following seas.