TechnipFMC Enters Partnership with Magnora to Develop Floating Offshore Wind Projects
March 17 2021 - 4:32PM
Business Wire
TechnipFMC (NYSE:FTI) (PARIS:FTI) today announced it has entered
into an agreement with Magnora ASA (Magnora) to jointly pursue
floating offshore wind project development opportunities under the
name Magnora Offshore Wind.
Magnora holds a strategic position within the renewable energy
sector as an owner in offshore wind, onshore wind, and solar
development projects and is a key enabler in solar energy
technologies.
When combined with TechnipFMC’s unique technologies, experience
delivering integrated EPCI (iEPCI™) projects and its novel Deep
Purple™ initiative to integrate wind and wave energy with offshore
green hydrogen storage, this partnership will enable Magnora
Offshore Wind to realize significant opportunities in the growing
offshore floating wind market.
Magnora Offshore Wind has already commenced operations and
started work on an application for the first round of seabed
leasing through the Scottish government’s ScotWind Leasing program.
In addition, Magnora Offshore Wind will participate in the first
offshore wind application round in Norway, which opens in 2021, and
will also consider entering new markets in the coming months.
Jonathan Landes, President Subsea at TechnipFMC, commented:
“Magnora and TechnipFMC bring together decades of combined
knowledge regarding the development of profitable offshore energy
projects. This partnership reflects TechnipFMC’s ambition to
capture a significant position in the renewable offshore energy
market. We are delighted to support Magnora Offshore Wind by
providing our expertise and know-how in bringing innovative
offshore energy solutions to the market.”
Torstein Sanness, Executive Chairman of Magnora, says: “In
Magnora you find some of the world’s leading experts within wind
development. Coupled with TechnipFMC’s project management
competence and extensive service and technology portfolio, we
believe we can provide a market-leading floating offshore wind
offering. TechnipFMC’s ‘Deep Purple™’ initiative, which utilizes
offshore wind to produce hydrogen for offshore assets, is another
exciting avenue we will be jointly looking to explore.”
Important Information for Investors and
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Forward-Looking Statement
This release contains "forward-looking statements" as defined in
Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended. The words “believe”, “estimated” and other
similar expressions are intended to identify forward-looking
statements, which are generally not historical in nature. Such
forward-looking statements involve significant risks, uncertainties
and assumptions that could cause actual results to differ
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material factors that could cause actual results to differ from
projected results, please see our risk factors set forth in our
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which include our Annual Reports on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K. We caution you not to
place undue reliance on any forward-looking statements, which speak
only as of the date hereof. We undertake no obligation to publicly
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date they are made, whether as a result of new information, future
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About TechnipFMC
TechnipFMC is a leading technology provider to the traditional
and new energy industries, delivering fully integrated projects,
products, and services.
With our proprietary technologies and comprehensive solutions,
we are transforming our clients’ project economics, helping them
unlock new possibilities to develop energy resources while reducing
carbon intensity and supporting their energy transition
ambitions.
Organized in two business segments — Subsea and Surface
Technologies — we will continue to advance the industry with our
pioneering integrated ecosystems (such as iEPCI™, iFEED™ and
iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a
commitment to our clients’ success, and a culture of strong
execution, purposeful innovation, and challenging industry
conventions.
TechnipFMC uses its website as a channel of distribution of
material company information. To learn more about how we are
driving change in the industry, go to www.TechnipFMC.com and follow
us on Twitter @TechnipFMC.
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