Chevron has become the latest oil major to take an interest in the fast-growing floating wind energy market
Together with Moreld, which leads a group of companies active in the marine and offshore markets and has formed floating wind company Moreld Ocean Wind (MOW), it is investing in Ocergy, the developer of an innovative floating foundation. Ocergy has also developed the design of an environmental monitoring buoy.
Together, with MOW, Chevron Technology Ventures has signed a co-operation agreement as a precursor to the execution of commercial-scale floating wind projects.
Chevron Technology Ventures has a 22-year history of investing in start-ups and a track record of collaboration and of bringing innovation to scale. The Ocergy investment is being made by Chevron Technology Venture’s Future Energy Fund which identifies technology solutions needed for the energy transition including industrial decarbonisation, emerging mobility and energy decentralisation.
Chevron vice president innovation Barbara Burger said, “Offshore wind is undergoing a period of rapid innovation in an effort to provide lower carbon energy at a substantial scale.
“Ocergy has developed technology that could be part of the solution to enable more affordable, reliable, and ever-cleaner energy in a marine environment.”
“By establishing MOW, and teaming up with Ocergy, Moreld will be able to offer EPCI-solutions to the floating offshore wind market,” the Norwegian group said. It describes MOW as a pure-play product and solutions provider for the floating wind industry.
The Moreld Group, which is owned by funds managed by HitecVision, is already established in the floating wind space, with competencies in full-scale engineering development, marine services, and product solutions.
Moreld chief executive Geir Austigard said, “Through this co-operation, MOW will be positioned to become a leading supplier of turnkey lifecycle solutions to floating wind developers.”
Through Ocergy, MOW is targeting the offshore wind industry’s need for a competitive floating offshore wind turbine foundation that can meet local supply chain requirements, that has industrialisation potential.
MOW has hired Kristian Ravn as chief executive. A Danish offshore wind industry veteran, Mr Ravn held senior management positions in companies including Universal Foundation and Semco Maritime.
“Supported by our parent and subsidiary companies, MOW will have the necessary muscle to work with developers to ensure projects are delivered on schedule and on budget,” Mr Raven said.