Saronic Technologies raises $1.75B to mass-produce autonomous warships and rebuild US shipbuilding

we get people to come down to Medagen and they're definitely not regretting when they come visit. So, we have some fun adventures driving to the countryside.

I love it. Well, thank you so much for taking the time.

Great to meet you, Forest. I'm sure you'll be back on soon.

Have a great day.

Cheers, guys.

Goodbye.

Let me tell you about Phantom Cash. fund your wallet without exchanges or middlemen and spend with the phantom card. Uh our next guest is Dino from Seronic. He's in the rich room waiting room. Let's bring him in to the TV Ultra. Dino, how you doing?

Good guys. How you doing? Thanks for having me on.

Thanks so much for joining. Uh

great to finally have you on.

Yeah, give us the state of the union. What's going on with Seronic?

Yeah, likewise. And you may have seen today we announced a $1.75 billion financing round over.

Thank you.

So, do we need to build some ships? What's going on?

We got to build some ships.

We're super excited for this. I mean, it is a true true byproduct of the execution that the team has delivered on over the last not just 12 months, but the last really 36 months since we started the company. I mean, our team is truly A+. If you look at where we were just just a year ago, we came off a $600 million financing round. What that let us go do is we opened our first shipyard. We launched Marauder, which is a $180 foot autonomous and unmanned ship. We then announced a multiund million dollar project into that shipyard to scale production of Marauder. And then Corsera, which you see behind me right here, our small USV platforms. We've already taken production of those well into the thousands. So now, as we look forward, what we're going to do over the next 12, 24, 36 months um with this capital raise is we're going to accelerate that. We're going to accelerate the production, accelerate the deliveries of our vessels to the US and our allies around the world. We're going to launch new products. We're going to build new ships.

Mhm.

And then we're going to go and build new shipyards.

Yeah. Yeah, right. We're going to invest in the ship building industrial base in this country to the tune of billions of dollars. We're going to create thousands of jobs. And ultimately, we're going to we're going to unlock production rates that we haven't seen in this country since World War II. And we're going to do it in a very technology first, software first approach.

Um you you mentioned USV. Is that unmanned surface vehicle?

Unmanned surface vessel. Yes.

Vessel. Got it. And then uh so walk me through uh the the use of you know boats used to transport people now we put equipment on them. How versatile are these vehicles? What are the different use cases? Uh are some weapons platforms or some just ISR capabilities? Like what is the range of of utilities that we that the the armed forces will get out of these USVs?

Extremely versatile. The whole the whole point of the platforms we're building is actually for them to be modular by nature, right? And actually we actually try to change the acronym around a little bit. USV is like unmanned surface vessel. You know, when you look in the past, it's really like a remote control platform. Yeah.

Um very similar to a predator drone. We use ASV, autonomous surface vessel, because what we're building at Seronic is not just onetoone control,

but it's true maritime autonomy to then go and deliver these platforms at scale and be able to control them at scale, meaning fleets of hundreds or thousands of vessels through the most advanced software on the planet for the maritime domain. And then when you're looking at the missions, the use cases that you mentioned, it really all just boils down to scale, persistence, and risk reduction. Yeah. Right. How do you operate large numbers of vessels? How do you do how do you do that continuously in what's becoming an increasingly dangerous maritime environment?

And then how do you offer like real capability to commanders while keeping sailors out of harm's way? keeping people safe is very very critical and a key point to what we're building here.

I don't want to diminish the the the work, but I'm curious about how how much of a challenge is it actually to create an autonomous surface vessel because it feels like uh when you're driving on the road, there's so many random conditions and the car can flip over. But boats, it's a little bit safer, I would feel like. But am I miss am I missing something there? Like what does it take? issue is you have people other boats that are trying to kill you.

Okay. Okay. Maybe that's but I'm just thinking like a plane, you know, if it doesn't land perfectly, it'll crash. Like boats, you know, they just kind of rock through the water, but there's obviously more to it. So, what went into making it uh fully autonomous?

There's a lot of Yeah. So, the ocean's just a completely different environment all together. So, we deal with a lot of a lot of different challenges. Sure. One of the challenges that that's really different from self-driving cars is yes, there's a lot of complexities on the road, but that singular car really only cares about how it gets to its end destination. It doesn't care about how the other hundred cars get to its end destination as well and how they're all working together collaboratively on a mission. Oh, and then you start throwing in 6, 8, 10 foot seas, high winds, enemy environment, some of the things that we're seeing now. And like

whether it's the Black Sea, the Middle East, we're anticipating in the Indoacific, like those are very very complex challenges that that we're solving at Seronic.

Yeah.

Uh what what goes into setting up a new shipyard? Do you have to kind of colllocate around existing shipyards? Can you kind of stand something up, you know, totally independently? How does that how does that work?

Yeah, I mean, when you look at shipyards and the ship building industrial base in this country, it's really how do you bring on net new capacity? You're not really coll-locating next to anything because a lot of that capacity has really atrophied over the last 30, 40, 50 years. So what we're focused on is is building new shipyards and then building the ecosystem and the infrastructure to support that as well through partnerships and vendor relationships. But one of our one of our main projects and one of the thing a large part of this capital is going to go towards is Port Alpha, right? We have a shipyard in Franklin, Louisiana. mentioned that we're investing hundreds of millions of dollars in that yard, but we're looking at a brand new shipyard, building this from the ground up, completely green field, investing billions of dollars to 10x the size of our existing yard, right? To bring on new scale, new capacity, and build rebuild the ship ship building industrial base from the ground up. That's what's needed because if you go around the country right now, you go to places which used to be shipyards and you'll see apartments and condominiums that are called naval yards. That's not just a name they came up with. It actually used to be a shipyard. So, what we're doing now is we're investing in the shipyards of the future again to produce at a scale that we haven't seen since World War II.

What's the best way to get a job at Seronic?

You can apply on our website. I mean, we are hiring. We are growing. I I mentioned how amazing our team is. What we're doing is absolutely critical for the country. The team comes in every single day. The work they're doing is changing the world. And so if you're a top engineer or looking to get into the defense tech space, please please apply. Um everything we're doing is absolutely critical. We grew the team from 200 to,300 people over the last 12 months.

And that's that's only the beginning guys.

That's amazing. Well, thank you so much for coming and breaking it down. Have a great

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