Technip Energies and Equinor Enter Strategic Collaboration to Accelerate Floating Offshore Wind Development
PARIS–(BUSINESS WIRE)–The strategic collaboration between Equinor as a leading floating offshore wind developer and Technip Energies (PARIS: TE) as a complete offshore wind solutions provider, was signed during the Seanergy conference in Normandie, France. The two companies aim to develop floating wind steel SEMI substructures that accelerates technology development for floating offshore wind, ensures cost reductions and develops local value opportunities.
The collaboration builds on the two companies’ joint ambition to drive industrialization of floating offshore wind. By teaming up at an early design phase of a floating wind farm project, the two parties seek to unlock value from integration and maximum use of fabrication capacities.
Laure Mandrou, Senior Vice President Carbon-Free Solutions of Technip Energies, said “We believe partnering is an essential step to reach net-zero. We are proud to enter this strategic partnership with Equinor, a long-lasting client with which we share a common vision and commitment: create a low-carbon future. This agreement extends our recent collaboration in the Floating Offshore Wind field, creating unique synergies by combining Technip Energies’ and Equinor’s respective experiences in the development of core technologies and the delivery of groundbreaking projects.”
Beate Myking, Senior Vice President for Renewables Solutions in Equinor, commented: “We are excited about our collaboration with Technip Energies, which allows us to further leverage and develop our floating toolbox to customize locally adapted industrial solutions for future floating offshore wind projects.”
Growth in renewables is needed to succeed with the energy transition. A large part of this growth will come from floating wind as approximately 80 percent of the wind resources offshore are in deep waters that require a floating wind turbine solution. Even though costs have come down substantially, there is still a way to go for the floating technology to reach commerciality. From building the world first floating turbine, Hywind Demo, to the world first floating wind farm, Hywind Scotland, Equinor reduced the cost per megawatt by 70 percent. The strategic collaboration between Technip Energies and Equinor will contribute to industrializing floating offshore wind solutions.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States. For further information: www.technipenergies.com.
Important Information for Investors and Securityholders
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
Contacts Technip Energies
Vice-President Investor Relations
Tel: +44 20 7585 5051
Email: Phillip Lindsay
Director Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Email: Stella Fumey
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
Email: Jason Hyonne