Founder: William M. Peterson, Naval Architect and Technology Developer
Where are you based?: HQ: South Bristol, ME / Production: Damariscotta, ME
Year Founded: 2021
What inspired you to start this company? NxMar was founded to address a persistent gap in clean energy. We wanted to develop a system that could provide reliable and affordable renewable power in locations where other energy alternatives are constrained by intermittency, exposure, or infrastructure limitations. Our initial focus was designing deployable systems that deliver usable electricity where it’s needed, without requiring major grid buildout.
What did the earliest version of the business look like? The earliest vision was centered on creating small scale (10 kW) sources of renewable energy designed to reduce environmental impact and provide reliable, low-cost energy, for coastal operations.
What problem are you trying to solve, and for whom? We’re solving the challenge of delivering dependable, on-site power for customers operating on or near the water including working waterfronts, shoreline businesses, charging stations, research institutions, and other water-based or water-adjacent facilities that need power to support their research, businesses, or homes.
Why hasn’t this problem been solved well before? The energy sector has prioritized large-scale generation tied to major infrastructure and grid distribution, which leaves many waterfront and remote users with limited practical options. That focus has slowed innovation around smaller, modular, site-specific renewable power systems that can be deployed with minimal infrastructure, while providing the lowest possible Levelized Cost of Energy.
What does your company do to solve this problem? NxMar develops and deploys portable, modular underwater generation systems (PUGs) and associated deployment and consulting services that enable site-specific electricity. Our near-term commercialization approach emphasizes high-value contracted PUG deployments for research and demonstration purposes. This approach provides short-term revenue while testing and developing deployment systems for multiple applications and use cases.
What makes your solution different or better than alternatives? NxMar’s approach is differentiated by our products portability and modularity (deployable without heavy permanent infrastructure), lower site disruption, and potentially lower environmental footprint than many conventional solutions. The PUG also increases the force of kinetic energy by accelerating the water flow within a duct creating more cost-effective electricity. We also have a commercial model that supports early adopters via demonstration and research contracts while accelerating product development for multiple use cases.
Who are your customers today? NxMar’s first customers include research institutions, one private coastal homeowner, and one municipality. The initial customers are all early adopters and provide the company with valuable data.
What’s the most important thing you’ve learned from talking to customers?A consistent insight is that every site is different. Successful deployments require a thorough site evaluation up front to determine technical and permitting conditions, access constraints, and load requirements. This is a must before contract scope and pricing can be finalized. Because each research site is different, the company gets to collect valuable knowledge that will educate our future deployments.
What assumption turned out to be wrong early on? We initially underestimated how long it can take to identify and secure the appropriate research contracts for application testing. Learnings have pushed us to pursue a broader set of national partners and contract pathways.
What progress are you most proud of so far? We’ve successfully demonstrated our system in harsh marine environments, proving core technical readiness and building credibility with early customers and partners that will be appealing to our next round of clients, investors, and potential licensees.
How did participating in Dirigo Labs support your growth? Dirigo Labs is helping NxMar convert technical validation into a commercialization and deployment plan that we will use to secure investment and research contracts.
Where do you see the company heading in the next 6–12 months? Over the next 6–12 months, NxMar is focused on 1) securing additional research contracts; 2) establishing a repeatable, low-volume, production line for new contracts; and 3) securing at least $0.5M in investment aligned with our revenue model.
What’s the biggest challenge you’re working through right now? Our primary challenge is selecting a lead investor and/or strategic partner who understands the scale of the opportunity and can help accelerate commercialization through credibility, introductions, and capital. We are very selective in determining our lead investor, which has slowed our growth short-term, in hopes for a stronger long-term benefit.
What kind of help would be most valuable right now? High-value support would include introductions to aligned investors and strategic partners, especially those with exposure to marine infrastructure, distributed energy, ports/working waterfronts, and research-driven commercialization.
How can the Maine startup community support you? The Maine ecosystem can help by socializing NxMar’s opportunity across the state’s economic development and innovation networks, building shared understanding of the overlap between Maine demonstration sites and national/global market potential while supporting visibility with investors and decision-makers.
Website: www.nxmar.comEmail: bill@nxmar.com