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Business & Finance

‘Offshore industry’s first’ vessel geometry assurance software comes to market

UK energy solutions provider OEG Energy Group has unveiled what it says is the offshore industry’s first dedicated vessel dimensional control assurance solution for survey and positioning systems onboard vessels and subsea vehicles to feature calibration software. GEOBASE provides an independent res

about 1 year ago

Business & Finance

XFuel gets EU funding to scale up its fuel-from-waste tech

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XFuel has secured €7.7 million in blended finance from the European Innovation Council (EIC), helping it bring its fuel-from-waste technology to transport markets.

about 1 year ago

Business & Finance

NKT’s power cable factory expansion named EU’s first net-zero strategic project

NKT’s expansion of its high-voltage submarine power cable factory in Karlskrona, Sweden, has been recognized as the first European net-zero strategic project under the EU Net-Zero Industry Act, providing it with a national priority status for accelerated administrative treatment and faster permittin

about 1 year ago

Prototype of Seaturns at Sainte Anne Portzic

Business & Finance

Seaturns opens fundraising round to scale wave energy technology

French wave energy developer Seaturns has launched a fundraising campaign to support the scale-up of its wave power generation technology, following several years of research, development, and testing. According to Seaturns, the fundraising will first open on April 22 with 24-hour priority access fo

about 1 year ago

Business & Finance

Wärtsilä’s €50M R&D investment to support development of future fuel-ready engines

Wärtsilä will invest €50 million in expanding its R&D center in Vaasa, aiming to meet the growing demand for sustainable technologies and alternative fuels in maritime and energy sectors.

about 1 year ago

French engineering group Setec has acquired a majority stake in UK-based Sealand Projects, strengthening its marine engineering and offshore wind capabilities.

Business & Finance

Setec expands marine engineering reach with Sealand Projects acquisition

French engineering group Setec has acquired a majority stake in UK-based Sealand Projects, strengthening its marine engineering and offshore wind capabilities. According to Setec, the acquisition expands the company’s service offering in the marine renewables sector and enhances its presence in the

about 1 year ago

Business & Finance

EU, EIB and KfW to back renewable hydrogen projects in Chile with up to €216.5M

The European Commission, the European Investment Bank (EIB), KfW Development Bank (KfW), Corporación de Fomento de la Producción (CORFO) and the Chilean Ministry of Energy have signed agreements to support Chile’s renewable hydrogen industry via the Team Europe Renewable Hydrogen Funding Platform fo

about 1 year ago

Business & Finance

Reversal of EU’s energy playbook on Russian oil barrels cannot be ruled out, MSI warns

MSI has contemplated the possibility of a shift in energy policy within the European Union (EU), where the EU changes its mind about the ban on Russian fossil fuels and decides to take a page out of U.S. President Donald Trump’s book by reviving its energy ties with Russia against the backdrop of tr

about 1 year ago

Oseberg field centre in the Norwegian North Sea; Credit: Trond Glaser/Equinor

Business & Finance

Equinor’s Norwegian activity across energy and decarbonization realms remaining ‘robust’ up to 2035

Equinor has set its cap on upping its activity ante in Norway within its operated fields, onshore facilities, and exploration and development projects alongside those for renewable and low-carbon solutions, creating further ripple effects like the multibillion-dollar worth of goods and services proc

about 1 year ago

Business & Finance

WATCH: First of three Agalas subsea vessels launches in Türkiye

A new 100-meter-long cable laying support vessel (CLSV) being built at the Sefine Shipyard for Norwegian Agalas and Cecon Contracting has been launched in Türkiye. Agalas reported yesterday, April 3, that the first of its three subsea vessels had been launched in Türkiye, with a few intense months a

about 1 year ago

Business & Finance

VARD building 121-meter Taiwan-bound subsea construction vessel

Norway’s VARD has signed a €113.5 million contract with Taiwan-based Dong Fang Offshore (DFO) to design and build an offshore subsea construction vessel that will be dedicated to performing work in the offshore wind and telecom sectors, with the contract also including options. The 121.3-meter-long

about 1 year ago

Noble Resillient jack-up rig; Source: Petrogas

Business & Finance

Noble rig reaches endpoint at North Sea drilling campaign crowned with ‘great discovery’

Petrogas E&P has crossed the finish line at its drilling program in the UK sector of the North Sea, which led to a gas discovery drilled by a 16-year-old jack-up rig owned by Noble Corporation, a U.S.-based offshore drilling giant.

about 1 year ago

Business & Finance

Mabanaft and HIF Global shake hands on e-methanol purchase for shipping industry

German energy company Mabanaft and e-fuels producer HIF Global have signed a heads of agreement (HoA) for the planned offtake of e-methanol for the shipping industry.

about 1 year ago

Business & Finance

Crantz steps down as Argeo’s CEO, interim appointed

Norwegian subsea services provider Argeo has appointed an interim chief executive officer (CEO) as the current CEO Trond F. Crantz has stepped down from the role. Argeo’s Board of Directors yesterday, April 3, appointed Jan P. Grimnes to serve as interim CEO of the company following the decision tha

about 1 year ago