Barge Master Gets EUR7.5M Injection for Offshore Wind Feeder Solution

Friday, October 7, 2022

Offshore technology company Barge Master, which develops motion-compensating solutions for the offshore industry, said this week it would receive a total capital injection of €7.5 million from the Energy Transition Fund Rotterdam and the existing shareholders, for its technology that promises to make installation of offshore wind farms more efficient.

"A major challenge in the construction of offshore wind farms is the transport of the wind turbine components from the port to the wind farms located far off the coast. The current method involves expensive installation vessels sailing up and down to pick up the components. Barge Master has designed a motion-compensating platform, the ‘Feeder,’ which can be easily installed on existing vessels. These machines keep the large turbine parts in balance so that they can be craned to the installation vessel at sea," the company explained.

In this way, Barge Master said, the installation vessel can remain at sea and continue to install, while being continuously supplied with new wind turbine components. Existing installation vessels can therefore be deployed more efficiently and have a longer lifespan. 

"The result is a shorter construction time, lower investments, and a more competitive price for offshore wind energy. Barge Master’s solution achieves an average CO2 saving of 100 kilotons per year," Barge Master said.

Barge Master recently signed a multi-year contract with the Belgium-based offshore installation contractor DEME, for the construction of the first large-scale commercial offshore wind farm in the United States, Vineyard Wind 1 (804 MW). 

The contract with DEME requires a total of four Feeder platforms. 

"Thanks to the capital injection, Barge Master can finance the construction of these machines, which can also be used for other offshore wind farms in the future," Barge Master said.

Dutch companies are used for the development and construction of these machines, mostly from Rotterdam and the surrounding area, creating 89 temporary and structurally 15 jobs in the region. 

"This strengthens Rotterdam’s role as a global center of excellence in maritime technology. In the future, the technology can also be used for the construction of offshore wind farms off the coast of the Netherlands," the company said.

Chantal Zeegers, alderman of Rotterdam for climate, building and living: “Proud that we can contribute to this green entrepreneurship through the Energy Transition Fund Rotterdam. It is these types of entrepreneurs, these types of solutions, that contribute to the major climate challenge we face.”

Categories: Technology Renewable Energy Hardware Technology Offshore Wind

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