Odyssey Marine Exploration

What Odyssey Marine Exploration does

Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) is a Tampa-headquartered, publicly traded marine minerals company that identifies, validates, and develops subsea critical mineral resources on behalf of sovereign governments and license holders. Originally founded in 1993 as a deep-sea shipwreck exploration firm, Odyssey strategically pivoted in 2009 toward subsea mineral resource development and now operates a portfolio spanning polymetallic nodules in the Cook Islands EEZ (estimated 6.7 billion tonnes), phosphate via the PHOSAGMEX joint venture in Mexico, heavy mineral sands through the U.S. Critical Minerals Program (Virginia), and subsea gold at the Lihir project in Papua New Guinea.

The company's technical platform centers on proprietary tools including the BAMCAN (Backscatter Angle Range Map Cluster Analysis for Nodules) system for GIS-based polymetallic nodule identification from multibeam sonar, the Global Prospectivity Program integrating multivariate geological and geopolitical modeling, and complementary Autonomous Benthic Mini Landers and offshore exploration systems. Its product surface is organized into four project programs (Cook Islands, PHOSAGMEX, U.S. Critical Minerals, Lihir Gold) supported by three service modules: Mineral Research, Offshore Exploration, and Legislative & Regulatory Services.

Odyssey's business model is project-development driven rather than product-driven: revenue (currently negligible/pre-commercial) is expected to come from professional services for exploration and validation, equity interests in license holders (approximately 14.2% in CIC Limited, 6.28% in OML, majority in Bismarck Mining Corporation, 70% of Oceanica Mexico / 35% effective in PHOSAGMEX), and ultimately commercial extraction and sale of cobalt, nickel, copper, manganese, titanium, zirconium, rare earth elements, phosphate, and gold. In April 2026 the company announced a $1 billion all-stock merger with American Ocean Minerals Corporation (to operate as AOMC) intended to consolidate a U.S.-controlled deep-sea critical minerals platform, with closing expected in late Q2 or early Q3 2026.

Name

Odyssey Marine Exploration

Legal name

Odyssey Marine Exploration, Inc.

Website

https://odysseymarine.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Odyssey Marine Exploration is a publicly traded marine minerals company that identifies, validates, and develops subsea critical mineral projects on behalf of governments and license holders across the Cook Islands, Mexico, Papua New Guinea, and the United States.

Ownership category

akta.pro rank

Product category

Marine Mineral Exploration Services

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839)

SIC

Water Transportation (4400), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Marine Service Provider Coordination (Diving, Inspection, Class/Survey Support) (TLAHAJAI)

Keywords

• Deep-sea mineral exploration
• Polymetallic nodule extraction
• Subsea mineral exploration
• Marine mining services
• Offshore mineral development

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Exploration and Development Services: Odyssey provides integrated capabilities across the full lifecycle of subsea mineral development, including exploration services, project validation, environmental assessments, and regulatory support to government partners and license holders.
2. Equity Interests in Projects: The company holds equity stakes in exploration license holders including CIC Limited (~14.2% equity interest) and OML (~6.28% equity interest), as well as majority ownership in Bismarck Mining Corporation (PNG) and 35% effective ownership in PHOSAGMEX joint venture.
3. Future Resource Extraction: Pre-commercial company focused on developing polymetallic nodules, phosphate, heavy mineral sands, and gold resources. Revenue would be generated through future commercial extraction and sale of critical minerals including cobalt, nickel, copper, manganese, titanium, zirconium, rare earth elements, and phosphate.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Odyssey Marine Exploration is a marine mineral exploration and project development company that partners with governments and subsea mineral license holders to identify, validate, and advance deep-ocean critical mineral projects within Exclusive Economic Zones. Its portfolio targets polymetallic nodules, phosphate, heavy mineral sands, and gold through integrated exploration, environmental assessment, regulatory, and feasibility services, with the company holding equity stakes in license holders in the Cook Islands, Mexico, Papua New Guinea, and U.S. waters.

Product overview

Odyssey Marine Exploration is a marine critical minerals company offering an integrated platform of subsea mineral exploration services rather than a single product. The core offerings include the Cook Islands Mineral Exploration Program (polymetallic nodule extraction), PHOSAGMEX joint venture (phosphate for fertilizers), US Critical Minerals Program, and LIHIR Gold Project. These are supported by three service modules: Mineral Research Services (proprietary BAMCAN modeling and geological analysis), Offshore Exploration Services (work plan execution and data management), and Legislative & Regulatory Services (licensing, permitting, and compliance). The company partners directly with governments and license holders across multiple jurisdictions to identify, validate, and advance subsea mineral projects.

Differentiator

Problem solved

Functional benefit

Products and services

• US Critical Minerals Program A program focused on responsibly exploring offshore mineral resources in U.S. waters to strengthen domestic supply chains, targeting heavy mineral sands (titanium, zirconium, rare earth elements) and phosphate through partnership with the Bureau of Ocean Energy Management.
• PHOSAGMEX A 50/50 joint venture between CapLat and Oceanica Mexico (70% owned by Odyssey) focused on developing a sustainable phosphate supply from Mexico's EEZ to support North American fertilizer needs using proven dredging techniques.
• Cook Islands Mineral Exploration Program Polymetallic nodule exploration program in the Cook Islands' EEZ targeting one of the world's largest known nodule resources (estimated 6.7 billion tonnes), advancing through mapping, sampling, bulk recovery, and environmental studies. Odyssey holds equity stakes in two of the three exploration license holders.
• LIHIR Gold Project Subsea gold exploration project in Papua New Guinea's EEZ near Lihir Island, targeting seamount-related epithermal and modern placer gold at depths of 500-2,000 meters. Odyssey holds majority ownership in Bismarck Mining Corporation which controls the exclusive 320 km exploration license.
• Mineral Research Services Integrated scientific research services including proprietary BAMCAN prospectivity modeling, multivariate geological analysis, Global Prospectivity Assessment, and geological evaluation and validation for marine mineral projects.
• Offshore Exploration Services Comprehensive offshore mineral exploration services including work plan design and implementation, equipment procurement and deployment, and data management solutions from legacy data review through regulatory submissions.
• Legislative and Regulatory Services End-to-end licensing, permitting, and regulatory strategy services including concession strategy management, stakeholder engagement, EIA/EIS development, and long-term compliance oversight for offshore mineral projects.

Quantifiable outcome

• Polymetallic nodules could double global cobalt supply
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered flagship, core, major and minor.

• American Ocean Minerals CorporationflagshipStrategic or Co-development Partner · 8 April 2026Definitive merger agreement creating approximately $1 billion U.S.-controlled deep-sea critical minerals platform. The all-stock transaction includes over $150 million private placement financing. Combined entity will operate as American Ocean Minerals Corporation on Nasdaq under ticker AOMC, focused on polymetallic nodule exploration and rare earth elements.
• Ocean Minerals LLC (OML)coreStrategic or Co-development PartnerOdyssey holds approximately 6.28% equity interest and provides marine services to OML, a deepwater critical minerals exploration company in the Cook Islands. OML operates the research vessel Anuanua Moana and has completed multiple expeditions including mapping, sampling, and bulk nodule recovery for metallurgical process development.
• CIC Limited (CIC Ocean Research)coreStrategic or Co-development PartnerOdyssey holds approximately 14.2% equity interest and provides services to CIC Limited, a deep-sea mineral exploration company in the Cook Islands backed by consortium including Odyssey Marine Exploration and Royal Boskalis Westminster. CIC initiated offshore operations in 2022 with promising results.
• Moana Minerals Ltd.coreStrategic or Co-development PartnerCook Islands exploration company for which expedition data from 53 sampling sites and 4,059 physical samples collected will support Environmental Impact Statement planned for H1 2027 and Pre-Feasibility Study for EL3 license area.
• Capital Latinoamericano (CapLat)coreStrategic or Co-development PartnerJoint venture partner in PHOSAGMEX, a 50/50 joint venture between CapLat and Oceanica Mexico focused on developing sustainable phosphate supply from Mexico's EEZ for North American fertilizer needs. Odyssey holds 70% of Oceanica Mexico, giving 35% effective ownership in JV.
• Bismarck Mining Corporation (PNG)coreStrategic or Co-development PartnerOdyssey holds majority equity ownership in Bismarck Mining Corporation, which controls exclusive Exploration License for 320 km area in Papua New Guinea's EEZ adjacent to Lihir Island and Ladolam Gold Mine. Project targets seamount-related epithermal and modern placer gold.
• Great Lakes Dredge & Dock CorporationmajorStrategic or Co-development PartnerCollaboration agreement with the nation's largest dredging contractor to support Virginia Critical Minerals project using shallow-water dredging for resource recovery of heavy mineral sands including titanium, zirconium, rare earth elements, and phosphate.
• Marine Applied Research and Exploration (MARE)minorStrategic or Co-development PartnerNon-profit organization focused on collaborative exploration and documentation of deep-water ecosystems. CEO Mark Gordon serves on MARE's Board, and Board Member Larissa Pommeraud serves as Interim President and Chair of the Board.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The Metals Company: The most direct peer — a pure-play polymetallic nodule explorer/developer with NORI and TOML license areas in the Clarion-Clipperton Zone. Operates the same business model as Odyssey: subsea critical mineral extraction with a U.S./Western capital markets focus.
• DEME Group: Belgian offshore contractor actively developing deep-sea mineral collection vehicles and partnering with nodule explorers. Comparable in that it combines marine engineering capability with subsea mineral project execution in the CCZ.
• Allseas Group: Swiss-based offshore construction company developing the Hidden Gem nodule collector vessel for The Metals Company. Comparable in its subsea engineering capability and pursuit of commercial nodule harvesting at abyssal depths.
• Fugro: Dutch geophysical and offshore site investigation firm that performs seabed surveys for offshore wind, oil & gas, and increasingly for marine mineral exploration. Comparable in providing the multibeam, geophysical, and environmental baseline services that Odyssey also performs.
• Phoenix International Holdings: U.S. subsea operations contractor where Odyssey's Director of Marine Operations previously worked for a decade, including as Director of the MH370 search. Comparable for deep-ocean recovery, ROV operations, and benthic sampling capabilities.
• Great Lakes Dredge & Dock Corporation: Largest U.S. dredging contractor and an Odyssey partner on the Virginia Critical Minerals project for shallow-water heavy mineral sands recovery. Comparable for offshore sediment/mineral recovery using dredging technology.

Broad incumbents

• Royal Boskalis Westminster: Large Dutch dredging and marine contractor and a backer of CIC Limited (where Odyssey holds 14.2%). Comparable as a partner/operator in Cook Islands nodule exploration and as a broad incumbent with offshore engineering scale Odyssey lacks.
• Schlumberger (SLB): Global oilfield services giant with growing exposure to subsurface mineral evaluation and offshore services. Comparable as a broad incumbent that could enter deep-sea minerals with its geophysics and drilling capabilities, framing competitive risk for Odyssey.
• Saipem: Italian offshore engineering and drilling contractor with subsea EPCI capabilities for offshore energy and emerging marine minerals. Comparable as a broad incumbent with the offshore engineering capacity to participate in deep-sea mineral extraction.

Emerging players

• CGG: French geophysical services company with marine seismic and multi-physics imaging capability applicable to subsea mineral prospectivity. Comparable as an emerging player whose data library and interpretation tools overlap with Odyssey's BAMCAN-style prospectivity work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/odysseymarine
• Facebookfacebook.com/odysseymarine
• LinkedInlinkedin.com/company/odyssey-marine-exploration

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Odyssey Marine Exploration