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.