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Business & Finance

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Inyanga Marine Energy Group has launched a crowdfunding campaign to support the expansion of its patented tidal energy technology, HydroWing
Business & Finance

Inyanga Marine Energy kicks off crowdfunding for its tidal energy technology

UK-based Inyanga Marine Energy Group has launched a crowdfunding campaign to support the expansion of its patented tidal energy technology, HydroWing, after landing $53 million in major tidal energy projects. According to Inyanga Marine Energy, the crowdfunding round, launched in partnership with Cr

about 2 years ago
A panel session at Offshore Energy Exhibition & Conference 2023 in Amsterdam
Business & Finance
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OEEC 2024: A lot to talk about

In a little more than five years, renewable energy targets set for 2030 will come knocking on the door. Whether they will be reached, missed or overshot, depends on multiple factors, most of which concern policymakers and the energy sector itself. At the end of 2023, the EU increased the binding ren

about 2 years ago
TGS sees record-high OBN contract activity following merger with PGS
Business & Finance

TGS sees record-high OBN contract activity following merger with PGS

Norway-based energy data and intelligence company TGS has reported record-high ocean bottom node (OBN) contract activity in the third quarter of 2024, the first quarter including PGS, with the utilization of its streamer fleet improving on high bid activity. In Q3 2024, TGS said that the activity le

about 2 years ago
Ashtead Technology has signed an agreement with Acteon Group to acquire Seatronics and J2 Subsea for £63 million (approximately $81.6 million)
Business & Finance

Ashtead Technology buys two firms from Acteon in deal worth nearly $82 million

UK-headquartered subsea equipment rental and solutions provider Ashtead Technology has signed an agreement with Acteon Group to acquire Seatronics and J2 Subsea for £63 million (approximately $81.6 million), expanding its subsea survey and robotics rental portfolio by 30%. The acquisition expands A

about 2 years ago
‘Challenging conditions’ prompt Neste to discontinue initial green hydrogen project at Porvoo refinery
Business & Finance

‘Challenging conditions’ prompt Neste to discontinue initial green hydrogen project at Porvoo refinery

Amid “challenging market conditions and financial performance”, Finnish oil refining and marketing company Neste has decided to re-evaluate its plans for renewable hydrogen production and withdraw from investing in a 120 MW electrolyzer at its Porvoo refinery. Originally, Neste’s plan included build

about 2 years ago
TES teams up with Japanese equity fund to scale e-NG production
Business & Finance

TES teams up with Japanese equity fund to scale e-NG production

Tree Energy Solutions (TES), a Belgium-based producer of electric natural gas derived from green hydrogen (e-NG), and Advantage Partners (AP), a Japanese private equity fund, are in discussions to explore potential investments in TES’ e-NG projects.

about 2 years ago
Van Oord’s hybrid cable layer debuts at RWE's 1.4 GW offshore wind farm
Business & Finance

Van Oord’s hybrid cable layer debuts at RWE’s 1.4 GW offshore wind farm

Van Oord’s new, next-generation cable-laying vessel (CLV) Calypso has begun installing cables at its first offshore wind project, marking its official debut. Calypso’s first project is RWE’s Sofia offshore wind farm, being constructed on Dogger Bank in the central North Sea, 195 kilometers from the

about 2 years ago
'First-of-its-kind' open-access CO2 storage concept gets €225 million EU support
Business & Finance

‘First-of-its-kind’ open-access CO2 storage concept gets €225 million EU support

UK’s energy services provider Altera Infrastructure and oil and gas company Harbour Energy have secured up to €225 million in grant funding from the EU Innovation Fund for what is said to be the first-of-its-kind large-scale solution for CO2 sequestration using shared, flexible offshore infrastructu

about 2 years ago
Trafigura forms joint venture company with Spanish oil operator
Business & Finance

Trafigura forms joint venture company with Spanish oil operator

Global commodity trading group Trafigura and oil operator Meroil S.A. have created a joint venture company that includes storage infrastructure for biofuels within the port of Barcelona. Following Trafigura’s acquisition of 50% of the shares in Meroil Tank S.L. from Meroil for an undisclosed sum, Me

about 2 years ago
Ocean Onyx semi-submersible rig; Source: Noble
Business & Finance

Noble anticipates step-up in floater rig demand as deepwater oil & gas plays become ‘critical’ to global energy security

Noble Corporation is expecting a ramp-up in drilling demand for the floater fleet from late 2025 and 2026, which will spur further rig reactivations, as it perceives the oil and gas production from deepwater reservoirs as an important factor in the global security of energy supply.

about 2 years ago
Hydrogen, maritime projects among winners of €4.8 billion EU grant
Business & Finance

Hydrogen, maritime projects among winners of €4.8 billion EU grant

The European Commission has selected 85 net-zero projects, including those involving hydrogen and maritime, to receive €4.8 billion in grants from the Innovation Fund.

about 2 years ago
Nel secures up to €135 million for industrialization of its electrolyzer technology
Business & Finance

Nel secures up to €135 million for industrialization of its electrolyzer technology

Nel Hydrogen Electrolyser has been awarded a grant from the EU Innovation Fund of up to €135 million for the industrialization of its next-generation pressurized alkaline technology.

about 2 years ago
Rendering of Balder area in North Sea; Source: Vår Energi
Business & Finance

Six-well North Sea drilling campaign with $690 million price tag coming up next year to unleash more high-value barrels

Vår Energi, together with its partner, Kistos Energy, has greenlighted a final investment decision (FID) for a multi-well project, which aims to develop the next stage of a field life extension project in the North Sea off the coast of Norway.

about 2 years ago
Green light for development of Germany-wide hydrogen core network
Business & Finance

Green light for development of Germany-wide hydrogen core network

The Federal Network Agency (BNetzA) has approved the construction of the Germany-wide hydrogen core network, expected to be created by 2032.

about 2 years ago