Octopus Energy’s generation arm is investing in Ocergy, a manufacturer of floating foundations for wind turbines.
Octopus Energy Generation is investing an unspecified amount, through its offshore wind fund Vector, to help commercialise Ocergy’s technology and fuel the company’s expansion into new markets.
Ocergy is headquartered in the US and has operations in France. The company has an innovative approach to designing and manufacturing floating foundations, drastically reducing the time and cost of building them.
The company is already working with over a dozen major developers across multiple gigawatts of projects, with their first foundations to be installed by 2025/26.
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Tech and innovation are fueling the energy revolution globally, so we’re always on the hunt for game-changing solutions that accelerate progress.
”Ocergy’s groundbreaking approach has the power to slash the costs of floating offshore wind – and with our investment they will get there faster, paving the way for cleaner, greener energy systems across the globe.”
Dominique Roddier, CEO of Ocergy, said: “At Ocergy we are incredibly enthusiastic about this collaboration with Octopus Energy Generation. It will empower us to scale up our operations and concentrate on delivering both pre-commercial and large-scale floating offshore wind projects.
“There are lots of synergies between Octopus’ forward-thinking efforts in offshore wind and Ocergy’s accomplishments to date - and we foresee significant boost in the bankability of our projects as a result.”
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