SBM Offshore and Technip Energies sign a Partnership Agreement to form EkWiL, a Floating Offshore Wind Joint Venture

• Two global leaders in Floating Offshore Wind join forces to provide new energy solutions.
• The combination of proven technologies, engineering know-how and recognized delivery expertise will enhance the confidence in the emerging floating offshore wind market.

SBM Offshore and Technip Energies are pleased to announce the signing of a Memorandum of Understanding for the creation of a joint venture entity, EkWiL. The new company will be a Floating Offshore Wind (FOW) pure player, capable of proposing a wide range of solutions to clients.

EkWiL will combine the people expertise, engineering and delivery capabilities, and complementary technologies of Technip Energies and SBM Offshore, creating integrated floating solutions and leading delivery offerings for the Floating Offshore Wind market. This unique positioning will enhance execution certainty and cost competitiveness to these innovative projects.

The 50/50 JV will operate as a fully integrated team, bringing together knowledge, innovation and capacities to develop the two leading-edge technologies (Semi-submersible INO15 by T.EN™ and Tension Leg Platform Float4Wind^®) covering a large spectrum of the Floating Offshore Wind market, and bring them to commercial deployment.

• Bruno Chabas, CEO of SBM Offshore, commented: “Our aim is to become a recognized leading contractor in developing floating offshore wind infrastructures. Collaboration is fundamental to position our ambitions sustainably while managing the pace of infrastructure development and the challenging economics of these pioneering systems. We are pleased to share our experience with the right partner, broadening the range of solutions and reinforcing our energy transition commitment."
• Arnaud Pieton, CEO of Technip Energies, commented: “Joining forces and collaborating are necessary to capture the potential of the nascent floating offshore wind market. By leveraging the synergies of complementary technologies and supply chain experience, EkWiL will increase predictability to meet market demand and deliver on our ambition to provide new energy solutions.”

As is customary for transactions such as these, there are a number of matters that Parties will attend to for completion of the transactions, which includes satisfactory conclusion of due diligence, engagement with employee representative bodies to complete relevant consultations, and having in place all necessary regulatory approvals.

SBM Offshore designs, builds, installs, and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable, and affordable energy from the oceans for generations to come. For further information: www.sbmoffshore.com 

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”). For further information: www.ten.com.

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Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise. 

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