TechnipFMC to Invest in Loke Marine Minerals
TechnipFMC and Loke Marine Minerals (Loke) are to develop enabling technologies for the extraction of seabed minerals, driving the energy transition and a sustainable future.
Marine minerals have been identified by the World Bank, World Economic Forum, and International Energy Agency as one of the potential solutions to meet the increasing demand for metals used in electric vehicle batteries, clean energy technologies, and consumer electronics.
Together, Loke and TechnipFMC are developing a patent-pending, autonomous subsea production system that aims to have minimal impact on the environment and positions the company well for potential offshore licensing on the Norwegian Continental Shelf (NCS) and internationally.
The NCS is known to have copper, zinc, cobalt, and other rare earth elements. Norway is one of the only countries to have formalized marine mineral legislation. The Norwegian government is expected to make a final decision on licensing approval for exploration and production in 2023.
Information Source: TechnipFMC –>
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