Portfolio

Vesper Marine

Introduction

Vesper seeks to remove collision risk at sea by creating differentiated products that make safety information accessible, uncluttered, and easy for anyone to utilise.

Overview

Design and manufacture of award winning high tech collision avoidance hardware products (smart AIS transponders) and software detection services. Vesper provides ports and marine asset owners 24/7 best-in-market solutions to monitor and protect vessels from hitting each other, other assets (underwater telecom cables, gas pipelines, oil rigs, etc.) and hazards (such as wrecks). The cost of a vessel striking infrastructure is extremely high and a real risk. For example, Perenco, a major oil company, experienced multiple near-miss incidents around their offshore gas platforms prior to implementing Vesper technology, risking production disruption costing US$1 million per day and millions to repair even a minor incident. Vesper technology is highly scalable through a massive market of potential customers (estimated to be over 5,800 oil & gas sites, 660 cables and pipes, 3,400 marine zones, 12,600 Aid to Navigation zones to mark hazards and infrastructure, and 4,100 global ports).

Vesper’s solutions have cutting edge functionality and intellectual property representing significant barriers to entry for new entrants. Vesper was founded in 2007, and is available in 42 countries through a large multi-channel market, covering commercial and recreational mariners.

Customer Selection