Chevron, Moreld Invest in Floating Wind Tech Firm Ocergy

April 14, 2021

Credit: Ocergy
Credit: Ocergy

Oil major Chevron has, via its Chevron Technology Ventures (CTV), entered the offshore wind arena through investment in Ocergy, a company developing floating offshore wind turbine foundation technology and environmental monitoring buoy.

Ocergy, Inc, a company with offices in Oakland, California, and in Aix-en-Provence, France, said Tuesday it had secured investments from Chevron Technology Ventures (CTV) and the newly created floating wind company Moreld Ocean Wind (MOW).

"The Series A round will fund Ocergy's growth and the commercialization of its sustainable offshore solutions, the OCG-Wind Floating Offshore Wind Turbine (FOWT) technology and OCG-Data environmental monitoring buoy," Ocergy said without sharing details on the amount raised.

"Successful close of this round validates the industry's potential to grow offshore renewable energy. Ocergy's low-cost floating offshore wind turbine foundation has the potential to meet local supply chain and industrialization requirements with clear value, and the OCG-Data buoy technology enables integrated environmental data-gathering and support for biodiversity," Ocergy said.

"We are delighted about this partnership as it will allow Ocergy to advance and commercialize its innovative technologies," said Ocergy CEO Dominique Roddier. 

Chevron Technology Ventures made the investment from its Future Energy Fund which identifies technology solutions needed for the energy transition including, industrial decarbonization, emerging mobility, and energy decentralization.

"Offshore wind power is undergoing a period of rapid innovation in an effort to provide lower carbon energy at a substantial scale," said Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron. "Ocergy has developed technology that could be part of the solution to enable more affordable, reliable, and ever-cleaner energy in a marine environment."

Moreld Ocean Wind

Coinciding with the investment in Ocergy, Moreld, created last year after HitecVision bundled 20 of its offshore services companies into one unit, on Tuesday announced the formation of its floating wind entity Moreld Ocean Wind, a company focused on the delivery of engineering, procurement, construction, and installation (EPCI) contracts in the floating offshore wind industry.

By establishing Moreld Ocean Wind and teaming up with Ocergy Inc., Moreld will be able to offer EPCI-solutions to the floating offshore wind market, the company said.

"Through the investment in Ocergy Inc., Moreld Ocean Wind targets the offshore wind industry’s need for a competitive floating offshore wind turbine foundation that can meet local supply chain requirements with clear industrialization potential, and for an integrated environmental data and biodiversity assessment buoy to promote the development of offshore renewable energy," Moreld said.

Kristian Ravn, a Danish offshore wind industry veteran, will serve as MOW CEO. He has held multiple C-level management positions in companies executing both green and brownfield projects.

"MOW will bring project execution and technical expertise to fully integrated and dedicated EPCI project teams to execute swiftly and flawlessly our EPCI contracts. Supported by our parent- and fellow subsidiary companies, MOW will be able to work with developers to ensure projects are delivered on schedule and on budget," said Ravn.

Ocergy CEO Dominique Roddier said: "With MOW onboard we gain a trusted partner who will be able to provide an EPCI solution for OCG-Wind, a key requirement for many of our clients. We are excited to have gained Chevron's investment and look forward to potential opportunities for their guidance and expertise executing some of the most complex offshore projects in the world."
  



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