US-based Ocergy has secured investments from Chevron Technology Ventures and Norwegian industrial group Moreld Ocean Wind (MOW).
The Series A round should fund Ocergy’s growth and the commercialisation of its sustainable offshore solutions, the OCG-Wind Floating Offshore Wind Turbine (FOWT) technology and OCG-Data environmental monitoring buoy.
With this investment, Chevron has become the first US oil major to invest in offshore wind.
“Offshore wind power is undergoing a period of rapid innovation in an effort to provide lower carbon energy at a substantial scale,” said Barbara Burger, vice president, Innovation and president of Technology Ventures at Chevron. “Ocergy has developed technology that could be part of the solution to enable more affordable, reliable, and ever-cleaner energy in a marine environment.”
HitecVision-backed Moreld recently established MOW to focus on delivery of engineering, procurement, construction, and installation (EPCI) contracts in the floating offshore wind industry.
“We are delighted about this partnership as it will allow Ocergy to advance and commercialize its innovative technologies,” said Ocergy CEO Dominique Roddier. “With MOW onboard we gain a trusted partner who will be able to provide an EPCI solution for OCG-Wind, a key requirement for many of our clients. We are excited to have gained Chevron’s investment and look forward to potential opportunities for their guidance and expertise executing some of the most complex offshore projects in the world,” said Roddier.
MOW has recently hired industry veteran Kristian Ravn to serve as the company’s CEO.
“MOW will be the spearhead of our combined knowledge within the Moreld group of companies,” said Ravn. “MOW will bring project execution and technical expertise to fully integrated and dedicated EPCI project teams to execute swiftly and flawlessly our EPCI contracts. Supported by our parent- and fellow subsidiary companies, MOW will be able to work with developers to ensure projects are delivered on schedule and on budget,” he added.
Ocergy believes this investment positions the company as a potential leader in advancing floating offshore wind to successfully compete for gigawatt-scale commercial projects.