TechnipFMC and Bombora Form Strategic Partnership to Develop a Floating Wave and Wind Power Project
April 01 2021 - 4:15PM
Business Wire
TechnipFMC (NYSE: FTI) (PARIS: FTI), a global leader in the
energy industry, and Bombora, a leading wave energy technology
company, have formed a strategic partnership to develop a floating
wave and wind power project in support of a more sustainable
future.
The relationship brings together TechnipFMC’s unique
technologies and experience delivering complex integrated
Engineering, Procurement, Construction and Installation (iEPCI™)
projects offshore with Bombora’s patented multi-megawatt mWave™
technology that converts wave energy into electricity.
The partnership will initially focus on TechnipFMC and Bombora’s
InSPIRE project. With engineering work initiated in November 2020,
the partnership is developing a hybrid system utilizing Bombora’s
mWave™ technology. The hybrid system demonstrator will deliver 6
megawatts of combined floating wind and wave power, followed by
Series 1 and Series 2 commercial platforms which are expected to
deliver 12 and 18 megawatts, respectively.
Jonathan Landes, President Subsea at TechnipFMC, commented: “Our
core competencies and integration capabilities make us an ideal
system architect and partner in developing renewable energy
solutions alongside Bombora’s experience and unique, patented
mWave™ technology. We are delighted to work on a project that
advances our commitment to the environment while contributing
toward a more sustainable future.”
Sam Leighton, Bombora’s Managing Director, said: “Bombora is
collaborating with TechnipFMC to accelerate development of our
floating integrated mWaveTM platform solutions for commercial wind
farms. With TechnipFMC’s extensive track record of delivering
large-scale projects to the energy sector and Bombora’s innovative
mWaveTM technology, we are confident InSPIRE will play a key role
in the offshore energy sector.”
###
Important Information for Investors and
Securityholders
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
materially from our historical experience and our present
expectations or projections. For information regarding known
material factors that could cause actual results to differ from
projected results, please see our risk factors set forth in our
filings with the United States Securities and Exchange Commission,
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
update or revise any of our forward-looking statements after the
date they are made, whether as a result of new information, future
events or otherwise, except to the extent required by law.
###
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.
About Bombora and mWave™
Based in Pembroke Dock in West Wales, Bombora is a leading
marine energy company that has developed a membrane style wave
energy converter called ‘mWave™’.
mWaveTM can be located in both nearshore and offshore sites with
good wave resources to generate sustainable clean energy. mWaveTM
is unique among wave energy converters as it simultaneously
addresses the ‘cost of energy’ and ‘ocean wave survivability’
challenges while delivering a utility scale solution.
Bombora is currently completing the 1.5 megawatt mWaveTM
Pembrokeshire Demonstration Project in Wales, part funded by
£13.4 million from the European Regional Development Fund (ERDF)
through the Welsh Government.
Bombora is progressing further opportunities in Lanzarote,
Japan, Ireland and Australia.
www.bomborawave.com
For more information, please visit www.inspireoffshoreenergy.com
Images available on request.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210401005878/en/
TechnipFMC Contacts Investor relations Matt
Seinsheimer Vice President Investor Relations Tel: +1 281 260 3665
Email: Matt Seinsheimer
James Davis Senior Manager Investor Relations Tel: +1 281 260
3665 Email: James Davis
Media relations Nicola Cameron Vice President Corporate
Communications Tel: +44 1383 742297 Email: Nicola Cameron
Brooke Robertson Public Relations Director Tel: +1 281 591 4108
Email: Brooke Robertson
Bombora Contacts Sam Leighton Managing Director T: +44
1646 233140 M: +44 7981 844125 sam@bomborawave.com
Ffion Wright Marketing and Communications Manager T: +44 1646
233140 M: +44 7890 636898 ffion@bomborawave.com
TechnipFMC (NYSE:FTI)
Historical Stock Chart
From Mar 2024 to Apr 2024
TechnipFMC (NYSE:FTI)
Historical Stock Chart
From Apr 2023 to Apr 2024