tl:dr
- NeuWave raises £570k to catalyse offshore renewable energy construction and maintenance
- Backed by insurance specialist Insurtech Gateway, a leading force in insurtech investment
- Every year, millions are lost in offshore renewable construction because vessels can’t reach site on schedule due to inaccurate weather forecasts
- NeuWave solves this through unprecedented accuracy for offshore environmental assessments, with data that’s 10x more accurate, and 60x higher resolution than the industry standard
- Headed by Jana Stella, Lucas Martin, and Chris Wright; backed by their unique combined expertise in Oceanography, Deep Learning, and Systems Development
NeuWave catalyse offshore renewable energy
NeuWave, the offshore weather intelligence startup, has closed a successful £570k pre-seed funding round backed by Insurtech Gateway, the FCA-authorised incubator and leading insurtech investor, alongside tech-focused VC firm EHE, XTX Markets, and top SEIS fund QVentures. The funding will accelerate the launch of NeuWave’s high-precision wave forecasting tools in September, helping offshore renewable industries slash costly downtime and reduce risk exposure.
Tackling a billion-pound problem
Inaccurate weather forecasts keep vessels stuck at port every day, costing shipping, operations & maintenance (O&M), and offshore developers millions of pounds annually. Insurers face higher claims, while project timelines slip and costs rise.
A step-change in accuracy
NeuWave’s Wave Adaptive Vessel Efficiency (WAVE) tools deliver forecasts up to 10x more accurate and at 60x higher resolution than current industry standards. By combining 50+ local datasets with advanced deep learning, NeuWave empowers confident routing, dynamic rerouting, and real-time forecast validation.
Helping cut vessel downtime by as much as 38%.
Proven performance
Early trials with five multinational companies show NeuWave’s nearshore models can simulate wave heights with a standard error of less than 1cm, smashing existing benchmarks. These results prove how validated, high-resolution wave data can de-risk operations, cut costs, and keep offshore projects on track.
Why it matters for (re)insurers
Better environmental data strengthens every stage of the risk lifecycle:
- Risk assessment & underwriting: weather window analysis and site characterisation reports improve pricing accuracy and confidence.
- Claims & loss adjustment: validated datasets support retrospective analysis, reducing disputes and uncertainty.
- Operations & risk prevention: interactive daily go/no-go decision tools and API integrations help captains, coordinators, and engineers reduce delays and incidents.
Strategic growth
With financial modelling and support from influential VCs, NeuWave is already building momentum. Plans are in place to expand the team with two sales hires to drive adoption and two AI specialists to enhance the product suite.
Dom Nolan at Insurtech Gateway said: “The global offshore O&M market is set to grow 16% annually to $12 billion by 2029, with the number of offshore windfarms expected to increase by 5x. The NeuWave team really stands out, with plans to accelerate end-to-end operational processes across a turbine’s 30-year lifecycle. Site assessments, route and construction planning, servicing/repairs, and decommissioning are some of the immediate use cases they’ve identified, though the team has ambitious plans to expand beyond. We’re delighted to be partnering.”
Founder vision
“We’re here to help ensure the success of offshore renewable energy construction and maintenance, even through uncertain conditions,” said NeuWave Founder Jana Stella.
Brian Hatton, Venture Partner at QVentures, said: “NeuWave is building something special, using AI and ML to completely change how ocean vessels help install and maintain clean energy projects like wind farms.”
Join the partner programme
NeuWave invites vessel operators, offshore procurement teams, and insurance stakeholders to join its early partner programme for hands-on access to WAVE tools ahead of full release.
Visit NeuWave’s website for more information, or get in touch with the team to discuss your project requirements.
- Jana Stella: jstella@neuwave.co.uk
- Lucas Martin: lmartin@neuwave.co.uk
- Chris Wright: cwright@neuwave.co.uk
Get in touch
If you’re building a startup to help insurers navigate the risks of the green energy transition, we’re here to fund and support you every step of the way. Check out our incubator and venture fund or get in touch.