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Market Outlooks

Shipping needs up to $28 billion per year to switch to carbon-neutral fuels by 2050, DNV forecasts

With the fuel transition underway, the shipping industry will need massive onboard technology investments ranging between $8 to $28 billion per year between 2022 and 2050 to reach full net-zero goals, a forecast released by the classification society DNV reports. DNV released its sixth maritime fore

about 4 years ago

Market Outlooks

API: American oil & gas as ‘reliable and realistic partners’ of renewables and energy security

API advocates for a ramp-up of U.S. oil and gas production to solve energy security and energy transition concerns.

about 4 years ago

As UK’s new PM puts energy security as priority, OEUK sees opportunity to speed up energy transition with domestic oil & gas

Market Outlooks

With UK’s new PM prioritising energy security, OEUK sees opportunity to speed up low-carbon transition

As the UK gets its new PM, OEUK believes this is an opportunity to accelerate energy transition with domestic oil & gas investments.

about 4 years ago

Illustration/One of LiftWEC device concepts (Courtesy of LIftWEC Project)

Market Outlooks

Final LiftWEC wave energy concept moves forward to tank trials

The partners in the EU-funded €3.4 million LiftWEC project have selected the final concept for a wave energy device, based on hydrodynamic lift forces, that will be put through its paces at the wave tank in Ecole Centrale de Nantes.

about 4 years ago

Welsh First Minister Mark Drakeford presented with the ‘State of the Sector’ report (Courtesy of Marine Energy Wales)

Market Outlooks

Tidal stream and FLOW at the forefront of near-term economic opportunity for Wales, report finds

Marine Energy Wales has released its annual ‘State of the Sector Report’ which dives into the opportunities and economic benefits of the developing marine energy sector in Wales.

about 4 years ago

Dolphin Drilling takes steps to reap benefits from ‘tight rig market’ and improved day rates

Market Outlooks

Dolphin Drilling raises $45 million for rig mobilisation & reactivation

Dolphin Drilling has undertaken an equity issue to take advantage of increased day rates in the offshore drilling market.

about 4 years ago

Market Outlooks

In focus: Emerging renewable energy projects to cushion effects of global energy crisis

With the global energy crisis unfolding and energy prices soaring, governments and companies are ramping up investments in renewables, energy efficiency and clean technologies.

about 4 years ago

QED Naval’s Subhub without tidal turbines mounted onboard (Courtesy of QED Naval)

Market Outlooks

QED Naval eyes new operations base on UK’s south coast

Scottish marine energy specialist QED Naval is looking to establish its mainland operations base on the UK’s south coast.

about 4 years ago

EEL Energy’s scaled tidal energy converter (Courtesy of EEL Energy)

Market Outlooks

EEL Energy closes fundraiser with new investors on board

French pioneer of membrane-based tidal energy converters EEL Energy has closed an equity round, securing existing shareholders’ support and brining new international investors to the company.

about 4 years ago

Market Outlooks

Blue World Technologies ready to scale up methanol fuel cell tech for maritime sector

The Bill Gates-founded investment fund Breakthrough Energy Ventures (BEV) has entered as an investor in Danish fuel cell company Blue World Technologies alongside Vaekstfonden, DEUTZ AG, and existing investors who invested back in December 2021 to complete the company’s €37 million series B round.

about 4 years ago

Floating solar unit at Banja reservoir, with mooring prepared for three additional rings (Courtesy of Ocean Sun)

Market Outlooks

Ocean Sun boosts half-year revenues

Norwegian floating solar company Ocean Sun has reported an increase in revenues for the first half of the fiscal year 2022, as opposed to the same period a year earlier.

about 4 years ago

SIMEC Atlantis’ tidal turbine for MeyGen project (Courtesy of SIMEC Atlantis)

Market Outlooks

MeyGen clears first CfD hurdle for extra 28MW of tidal power

SIMEC Atlantis Energy, the developer behind the MeyGen tidal power scheme, has achieved the first contractual milestone for the delivery of additional 28MW of tidal power capacity for the project as part of the UK’s fourth contracts for difference round.

about 4 years ago

Support for fossil fuels passed whopping $697 bln in 2021, delaying energy transition progress, says OECD and IEA

Market Outlooks

Support for fossil fuels passed $697 bln in 2021, delaying energy transition progress, says OECD and IEA

The IEA and the OECD outline in their new analysis that the backing for fossil fuels almost doubled in 2021, reaching $697.2 billion.

about 4 years ago

L to R: Torger Skillingstad, Lynne Ross, and Cameron McNatt (Courtesy of Mocean Energy)

Market Outlooks

Mocean Energy strengthens board with two key appointments

Mocean Energy has appointed a former oil and gas executive, and a climate change expert to its board to help commercialize its Blue Star wave energy device and raise investment.

about 4 years ago