Washington, DC – Fort Lauderdale, FL, March 18, 2025 - The Marine Technology Society (MTS) and Ocean Exchange, two established nonprofits in the marine technology sector, are pleased to announce they are combining to drive innovation, advance emerging technologies, support healthy oceans and resilient coastal systems, and strengthen the Blue Economy. This combination will drive geographic expansion and leverage extensive industry networks to support the startup ecosystem. Through shared expertise and resources, MTS and Ocean Exchange will create new business opportunities, connect emerging technology leaders with experienced professionals, and accelerate the commercialization of cutting-edge ocean solutions.  

The integration of Ocean Exchange into MTS will enable the global MTS community to engage deeper in Ocean Exchange’s well-established process for identifying, vetting, and assisting innovative startups—providing opportunities to accelerate emerging technologies and investment opportunities. By joining forces with MTS, Ocean Exchange will tap into an international community with global reach, long-standing industry influence, and structured outreach and engagement programs. The partnership will allow the combined organization to significantly amplify its impact.  

“Ocean Exchange has built a strong reputation for identifying and funding groundbreaking ocean innovations,” said Millicent Pitts, CEO and Executive Director of Ocean Exchange. “This partnership provides Ocean Exchange with a forever home while maintaining our brand, vision, and programs. Operating as a program within MTS, Ocean Exchange will have access to a broader network and additional resources to help early-stage companies scale and bring their technologies to market.”  

By combining expertise and resources, MTS and Ocean Exchange are committed to advancing innovation, strengthening the ocean workforce, and accelerating the transition of groundbreaking technologies into real-world applications. This merger marks a significant milestone in the marine technology industry, ensuring innovation to support a sustainable and thriving future for the world’s oceans remains central to the MTS mission.   

"The addition of Ocean Exchange to the MTS family of programs is a catalyst for continued technology development and innovation within the global marine technology startup community,” said Chris Ostrander, MTS CEO. “Ocean Exchange has supported the launch of hundreds of successful bluetech companies—companies that fit perfectly within the rich ecosystem of innovators, engineers, policy makers, and technologists in the MTS community. Our core programs, including the MATE ROV Competition, Ocean Enterprise Initiative, ocean technology microcredentials, and now Ocean Exchange support the ocean economy of today while preparing the talent and technology pipeline for the future.”  

MTS is fully committed to maintaining the quality and continuity of Ocean Exchange programs. Millicent Pitts will continue to lead the program and will join MTS as the Executive Director of Ocean Exchange. The agreement is subject to receipt of regulatory approvals and other conditions and is expected to close mid-year 2025.  

About MTS  

The Marine Technology Society (MTS) believes that advancements in the development and use of marine technologies are essential to support responsible and sustainable use of the ocean. Founded in 1963, we are an international professional society that provides members of academia, government, and industry a common forum for the exchange of information and ideas. Our members are engineers, scientists, technologists, policymakers, and educators on the leading-edge of technology design and application. MTS members work within the full spectrum of ocean and subsea technologies that support sustainable ocean use, ranging from offshore energy to dynamic positioning, ocean robotics to buoys, and many more. For more information, visit mtsociety.org.  

About Ocean Exchange  

Ocean Exchange is a global ecosystem whose mission is to accelerate the adoption of innovative solutions for healthy oceans and the sustainable blue economy. A 501(c)(3), Ocean Exchange fulfills this mission through a rigorous, multi-level program that includes annual monetary awards, promoting registered Solutions Inspiring Action across multiple communication channels, and facilitating access to the global network comprising its Board of Directors, Delegates, Solutions Review Team, Executive Team and other experts from around the world. Ocean Exchange’s mission is funded largely by private donations including those from Royal Caribbean, Schmidt Marine Technology Partners, Oceankind, Marine Research Hub of South Florida, Oceaneering, Angus Littlejohn Jr. Family, and others who share the passion for healthy oceans. To learn more, visit oceanexchange.org.  

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