Offshore wind investment is positioned to be a pivotal force in driving the global transition towards sustainable and renewable energy sources. Atlantic Oceanic LLC, a woman-owned US-based ship charter and ship management business devoted to operating large offshore specialist vessels, recently leveraged the power of relationships to acquire $17 million in financing, enabling it to expand its capacities to generate substantial clean electricity, create jobs, stimulate economic growth, and bolster energy security.
Atlantic Oceanic forms to serve offshore wind market
Founded in 2022, Atlantic Oceanic saw an opportunity to be an early player in the US offshore wind market. Its founders leverage their experience in the European offshore wind industry to help Atlantic Oceanic’s clients succeed in the fast-growing offshore wind energy market by offering Jones Act-compliant vessels to enterprises seeking transportation of personnel and equipment, installation and maintenance support, and offshore construction services.
To honor its commitment to safety, environmental responsibility, and customer satisfaction, Atlantic Oceanic is always on the lookout for new opportunities to help its clients succeed in the fast-growing offshore wind energy market.
Building bridges between companies and capital
When seeking capital, Atlantic Oceanic needed to forge connections beyond conventional investment spaces. Investment in women-led businesses represents a mere sliver of total investment dollars when compared to investments into businesses led by men, despite research demonstrating that more equitable investment often generates higher returns. In addition, marine and offshore energy is a highly specialized space, and many traditional investors overlook its potential. However, investors seeking early opportunities and a more resilient and eco-friendly portfolio understand that the industry’s growth potential presents a viable investment strategy.
Opportunity knocked when Foundation Credit, a credit-focused alternative asset management firm, learned about Atlantic Oceanic through the NP Capital Connector® program. This innovative Nixon Peabody program is a complimentary capital introduction service bringing companies together with family office, venture capital, private equity, and strategic investors, including “Impact Opportunities,” to support women- and minority-led businesses. The Atlantic Oceanic investment proved a good fit for Foundation Credit’s infrastructure debt strategy, Foundation Infrastructure Opportunities, which targets idiosyncratic lending opportunities and offers customized solutions to address market gaps for specific infrastructure needs. Both Atlantic Oceanic and Foundation Credit understood the mutual benefits of a financing deal, and through their relationships with the Nixon Peabody team, they were able to work quickly and efficiently, initiating and closing the transaction in three months.
Common ground for a clean energy future
The proceeds of the financing deal between Atlantic Oceanic and Foundation Credit will be used to retrofit Atlantic Oceanic’s current fleet, refinance an existing loan, and expand its fleet through future acquisitions. Nixon Peabody is proud to support female entrepreneurship and forge connections between companies that are equally committed to building the infrastructure needed to deliver a clean energy future.
