LOC Renewables acquires majority stake in Innosea

LOC Renewables acquires majority stake in Innosea

UK-based marine engineering consultancy LOC Renewables has acquired a 70% stake in French marine energy engineering firm Innosea.

Innosea is a spin-off company from Centrale de Nantes maritime & offshore engineering research department, and the company mainly operates in engineering and modelling for the marine environment, particularly in the areas of offshore structures and turbine engineering for fixed and floating substructures.

Following the acquisition, LOC Renewables and Innosea will offer an array of services to support the offshore wind sector.

“By acquiring Innosea, we are able to consolidate this offering ‘under one roof’, streamlining the process for our customers and furthering our strategy of ambitious growth in the renewables market. This acquisition, coming hard on the heels of our recent initiatives in geoscience and turbine engineering, enables LOC Renewables to provide a comprehensive capability, not only for complete early wind farm development but also for the integrated design that is so crucial to reducing costs in the sector,” said R.V. Ahilan, chief executive of LOC.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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