Drogue, a startup founded six months ago in Washington, DC, has secured $20 million in funding. The investment round included participation from XYZ Venture Capital, Toyota Ventures, Tamarack Global, Dream, FDVC, Garuda Ventures, Flexcap, Boost VC, and Slow Ventures.
The company is developing a system to power floating data centers using ocean thermal energy conversion. This technology generates electricity by utilizing the temperature difference between warm surface water and cold water drawn from a depth of 1,000 meters.
Drogue has designed a multi-megawatt prototype intended for installation on a traditional ship. The company plans to launch this prototype into the ocean in early 2028. Future iterations of the platform are expected to resemble offshore oil rigs.
The startup has received approval in principle from the American Bureau of Shipping. According to CEO Sam Sipe, the company is currently in the process of acquiring its first vessel to begin construction of the prototype.
