Checking the health of seagrass meadows and other seafloor habitats has relied on slow methods such as sediment coring, according to PlanBlue's EU project report. PlanBlue, a Bremen company founded in 2017 as HyperSurvey, built a hyperspectral underwater camera, precise underwater positioning and automated software that produce geo-referenced maps of seafloor health, biodiversity and carbon stock.
The European Innovation Council granted €2,493,050 towards a €3.56 million project to develop this "underwater satellite". In September 2024 PlanBlue announced a partnership with the survey group Fugro. In February 2026, according to German register data compiled by North Data, the Bremen local court issued an order on its assets in an insolvency case in February 2026, and the company is now in liquidation. Its website now returns a server error.
Company file
- Legal entity
- PlanBlue GmbH i. L., HRB 32952, Amtsgericht Bremen
- Founded
- November 2017 as HyperSurvey GmbH; renamed 2018
- Technology
- DiveRay hyperspectral camera, underwater positioning, AI processing
- Data products
- Seafloor health, biodiversity, carbon stock maps
- Partner
- Fugro, habitat mapping (2024)
- Status
- Insolvency case 517 IN 3/26 (26 February 2026); in liquidation
- EIC project
- BLUESURVEY, 1 May 2022 to 30 Apr 2024, closed
- EIC funding
- Blended finance
What Happened to PlanBlue
North Data's summary of the German commercial register shows that by a decision of 26 February 2026 in insolvency case 517 IN 3/26, published on 2 March 2026, the Bremen local court made an order concerning PlanBlue's assets, and that a liquidation notice followed in May 2026; the company now carries the suffix "i. L." (in Liquidation). We found no public statement explaining why. The website planblue.com returned a server error in September 2026. An archived copy from April 2025 still offered "fully-automated seafloor intelligence" and listed news on COP16, the Fugro partnership and recognition as an "AI for Good" solution by Salesforce.
The Technology: Mapping the Seafloor in Colour
Hyperspectral imaging records hundreds of narrow colour bands, which reveal what a surface is made of. According to the CORDIS report, PlanBlue developed hyperspectral imaging in the 400 to 1,000 nanometre range for the seafloor, precise underwater positioning to geo-reference the data, and DiveRay processing that delivers results in "just 24 hours" instead of relying on sediment cores. It argued this would make verifying projects such as seagrass restoration commercially viable.
"We provide the world's first highly detailed, geo-referenced seafloor maps."
PlanBlue website, archived April 2025What the EIC Project Promised, and What CORDIS Shows
BLUESURVEY promised to unlock "the value of a blue economy with a revolutionary Underwater Satellite". CORDIS describes the imaging, navigation and processing developments and data collection "at many different sites in myriad conditions", but gives no number of surveys, area mapped, customers or revenue.
- An underwater imaging systemDeliveredHyperspectral camera and positioning.
- Fast automated processingDelivered24-hour turnaround claimed.
- Commercial surveys at scaleNot shownNo metrics published.
- A company that continuesMissedLiquidation, 2026.
What Has Happened Since the Award
The Money
The award was blended finance; we found no EIC Fund investment. North Data lists, besides the EU grant, state subsidies of €800,000 and €213,624, and several capital increases between 2019 and 2022. Private investors and accounts were not accessible for this article.
What cannot be checked
Why PlanBlue became insolvent, what happened to its technology and patents, and whether the EIC took equity are not public.
Why Europe Should Care
Measuring seafloor habitats cheaply matters for marine protection and for blue carbon projects that need verification. PlanBlue had the technology and a partner in Fugro, but not a business that lasted. About €3.5 million of public grants and subsidies went into a company that is now being wound up.
What the project promised
A revolutionary "underwater satellite" for the sustainable use of ocean resources.
What the record shows
A working imaging system, a Fugro partnership, no published commercial results and liquidation in 2026.
The Verdict
Good technology, no lasting business
BLUESURVEY built what it set out to build, and a major survey company took an interest. Less than two years after the project ended, PlanBlue was in insolvency proceedings and liquidation. The public record says nothing about why, or what became of the technology the EU paid for.
PlanBlue is in liquidation and could not be asked for comment. This article is based on EU project data, German register information and an archived copy of the company's website, linked throughout.
