Major RGV Shipyard Announcement - Abbott, Austin drone boat maker plan 'major' announcement amid $3.2B Texas shipyard bid

Saronic Technologies Inc., which has been eyeing the Port of Brownsville for a $3.2 billion shipyard, is set to make an announcement Thursday with Gov. Greg Abbott. (Saronic Technologies Inc.)

Gov. Greg Abbott and leaders of Saronic Technologies Inc., which has been eyeing the Port of Brownsville for a $3.2 billion shipyard, are planning what the governor's office is calling a "major economic development announcement." 

It did not disclose the content of Thursday's announcement, but Austin-based Saronic has been looking for a site for its Port Alpha, a highly automated shipyard to build medium and large autonomous boats. It promises as many as 10,000 jobs over a phased build-out..

Saronic has also been eyeing sites in Solano County, California, and in Virginia, but the Port of Brownsville is seen as the top contender for the project. Local and state officials have already sweetened the deal with incentive packages worth an estimated $450 million.

The fast-growing company made history this week when the U.S. Navy used three of its sea drones to attack an Iranian naval base in the Strait of Hormuz - the first known U.S. use of such craft in combat. Last month, the same type of vessel notched a first when it rescued the pilots of a U.S. Apache helicopter that had been downed near the strait.

Cameron County, which is also home to SpaceX headquarters in the company town of Starbase, has committed $211 million in tax abatements over four phases beginning in 2029 for the Port Alpha project. The "county has experienced exceptional growth over recent years, and the potential addition of Saronic Technologies will build on that momentum," it said in a statement.

 

The Corsair, a 24-foot Autonomous Surface Vessel built by Austin-based Saronic, was used to rescue the crew of a U.S. Apache helicopter downed near Hormuz. (Saronic)

The Port Isabel Independent School District has also approved four Texas Jobs, Energy, Technology and Innovation, or JETI, agreements worth about $228 million in school property tax relief for Port Alpha.

Also, the Greater Brownsville Economic Development Corp. pledged to give $10 million to the firm this year. The Brownsville Navigation District, which operates the port, has given Saronic an option to lease nearly 4,400 acres for up to 50 years.

The company has been growing as its drone boats have caught on with the Pentagon.

Late last year, Saronic landed a $392 million production contract for its 24-foot-long Corsair vessels. This year, the startup more than doubled its valuation after a $1.75 billion funding round announced in March.

The speedboats, which cost about $1 million each, can travel more than 1,000 miles and carry payloads of up to 1,000 pounds at speeds up to 35 knots. Corsairs were used in both the recent attack on Iran and last month's pilot rescue.

The announcement by Abbott and Saronic CEO Dino Mavrookas is set for 10:30 a.m. Thursday at the company's Austin headquarters.