Triton Submarines

American company that designs and manufactures private submersibles

Triton Submarines LLC

Industry| Submarine manufacturing
Founded| 2008 [1]
Founders| L. Bruce Jones, Patrick Lahey
Headquarters|

Sebastian, Florida

United States

Key people

* Patrick Lahey (CEO)
* Ron Stamm (Operations Director)

Products| Commercial and personal submarines

Number of employees

| 50+ (2024)
Subsidiaries| Triton Submarines EMEA S.L. (Barcelona, Spain)
Website| https://tritonsubs.com/
Footnotes / references
[2][3]

Triton Submarines is an American company that designs and manufactures submersibles for research, filming, deep-ocean exploration, and the superyacht and high-end tourism sectors.

Triton is a bespoke manufacturer and, as of August 2023, fewer than twenty-five submersibles have been delivered since the company's founding.[4]

Submersibles are built-to-order, with the company historically delivering 1 to 2 subs per year.[5] Triton indicates that current build capacity allows for up to four subs to be manufactured simultaneously and the company has announced plans to expand capacity further.

Triton submersibles cost between five and forty million US Dollars.[5]

In 2019, Triton relocated its headquarters and Florida manufacturing facility from Vero Beach, Florida to Sebastian, Florida.[6]

## Investors

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In 2010, Bridgewater Associates billionaire Ray Dalio approached Lahey, Jones and Triton to build him a personal submersible. This relationship would later prove crucial, as less than two years later Triton faced what CEO Lahey describes as a financial "extinction event" due to supply chain problems with the business. Dalio extended the company an emergency loan in 2012, which ultimately saved the company.[7]

James Cameron, Investor

In 2018, Ray Dalio co-founded OceanX and contacted Triton to build a second submersible to support that group's operations.

Ray Dalio, Investor

In December 2022, Ray Dalio and James Cameron were reported to have become investors and minority shareholders of the company.[8]

Triton CEO Patrick Lahey has indicated that he had known Cameron from as early as 2001, and had a relationship with Dalio as a customer in both 2010 and through OceanX in 2018. Dalio had also provided emergency bridge financing during Triton's financial distress in 2012.

As these were private transactions, neither the percentages of ownership held by the shareholders, nor the valuation of Triton at the time of the transactions, have been disclosed.

As a Florida private company, the Triton shareholders are not a matter of public record.

## Notable projects

[edit]

### Aston Martin

[edit]

In 2017, Triton announced an ultra-luxury submersible in collaboration with Aston Martin called Project Neptune.

Utilizing the Triton 1650/3 Low Profile submersible as its certified platform, and sharing design language with the Aston Martin Valkyrie hyper-car, the Project Neptune submersible featured an exclusive interior, improved hydrodynamics, and powerful thrusters for increased speed and maneuverability.

### DSV Limiting Factor

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Cutaway of Triton's Limiting Factor, classed full-ocean-depth submersible DSV Limiting Factor, pictured during sea trials

In 2019, Triton completed the design and manufacture of the DSV Limiting Factor, a full-ocean-depth Triton model 36000/2. The DSV Limiting Factor became the first commercially certified full-ocean-depth crewed submersible, a significant milestone for the company.[9]

CEO Patrick Lahey (right) and Larry Connor aboard Triton DSV Limiting Factor

Triton was founded in 2008 by business partners Bruce Jones and Patrick Lahey.

The Limiting Factor was first operated by Victor Vescovo, and, as of 2019, holds the record for deepest crewed descent (to the revised depth of 10,925 m (35,843 ft) ±4 m (13 ft), in the Challenger Deep).[10][11][12][13]

In 2022, DSV Limiting Factor was sold to Inkfish, an ocean exploration and research group owned by Gabe Newell[14] and renamed Bakunawa after the Filipino mythological creature Bakunawa.[15]

### Abyssal Explorer

[edit]

In May 2024, it was announced that US real estate billionaire, and private space astronaut, Larry Connor, commissioned the design and building of a $20 million submersible, the Triton 4000/2 Abyssal Explorer, and planned to voyage to the wreck of the OceanGate Titan submersible implosion with Triton Submarines co-founder Patrick Lahey to prove that a journey to the site is possible, and safe, and that the industry had made improvements in the wake of the OceanGate implosion.[16][17]

## References

[edit]

1. ^ "Florida Division of Corporations - Triton Submarines LLC". Florida Department of State.
2. ^ Godinho, Varun (July 24, 2020). "TritonSubmarines braces for next wave of experiential tourism". Gulf Business. Retrieved March 12, 2021.
3. ^ "Triton Submarines EMEA S.L." Dun & Bradstreet. 2020. Retrieved March 12, 2021.
4. ^ "Project Neptune". Triton Submarines. Retrieved 2019-06-04.
5. ^ a b Blain, Loz. "Patrick Lahey: Memorable dives from a remarkable career". New Atlas.
6. ^ Thomas, Milt (January 18, 2019). "Triton Submarines opens new high-tech facility in Sebastian". The Indian River Guardian. Retrieved March 12, 2021.
7. ^ Kay, Grace. "'Avatar' filmmaker James Cameron and billionaire Ray Dalio invested in a submarine company. See inside the submersibles popular with the über-rich". Business Insider.
8. ^ Chang, Clio (2022-12-13). "The Status Submarine's Time Has Come". Curbed. Retrieved 2023-06-23.
9. ^ "Full Ocean Depth Submersible DNV-GL CERTIFICATION". fivedeeps.com. Retrieved May 4, 2019.
10. ^ "Expedition will explore the deepest part of the world in the Mariana Trench". Pacific Daily News. 26 April 2019. Retrieved 2019-05-13.
11. ^ "Deepest Submarine Dive in History, Five Deeps Expedition Conquers Challenger Deep" (PDF). fivedeeps.com. Retrieved May 13, 2019.
12. ^ "Full Ocean Depth Submersible LIMITING FACTOR". fivedeeps.com. Retrieved May 18, 2019.
13. ^ "The Five Deeps Expedition Overview". fivedeeps.com. Retrieved 5 November 2019.
14. ^ "DSSV Pressure Drop sold to Inkfish". Superyacht News.
15. ^ "Deepest ever fish caught on camera off Japan". BBC News. 2023-04-01. Retrieved 2023-06-20.
16. ^ "Ohio Billionaire from Dayton planning to take sub to Titanic site to prove a point". WKRC. 28 May 2024. Retrieved 28 May 2024.
17. ^ Koenig, Kevin; Finke, Brian. "After the OceanGate Implosion, the Ultra Wealthy Still Can't Resist the Deep Sea". WSJ. Retrieved 28 May 2024.

## External links

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Wikimedia Commons has media related to Triton Submarines LLC.

* Company website