Photo: DeepOcean

DeepOcean buys into marine minerals exploration and extraction firm

Subsea services player DeepOcean is acquiring a majority stake in marine minerals exploration and extraction company ADEPTH Minerals.

DeepOcean reported it had signed an agreement to invest in the Norwegian company, which will continue to operate as a standalone company and brand.

According to DeepOcean, ​ADEPTH Minerals’ mission is to find and extract commercial deep-sea minerals through sustainable marine operations using new technology with low carbon intensity and by integrating big data and artificial intelligence for prospect analysis and risk assessment.

Furthermore, the investment and DeepOcean’s expertise will enable ADEPTH to conduct a planned environmental research expedition in collaboration with the University of Bergen and Seabed Solutions, the company’s second-largest shareholder.

“Alongside our continued core service segment of oil & gas and our increasing exposure to offshore renewables, deep sea minerals is an additional area where we see great potential for DeepOcean,” said Øyvind Mikaelsen, DeepOcean CEO.

“By bringing our subsea and project execution experience to ADEPTH, we will together strive to support and enable the energy transition and sustainable use of ocean resources, by means of sourcing and extracting sought-after materials in an environmentally responsible manner.”

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