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 says its low-cost floating offshore wind turbine foundation has the potential to meet local supply chain and industrialization requirements. The company’s OCG-Data buoy technology enables integrated environmental data-gathering and support for biodiversity.
“We are delighted about this partnership as it will allow Ocergy to advance and commercialize its innovative technologies,” says Dominique Roddier, CEO of Ocergy. “With MOW on board, 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 complex offshore projects.”
CTV has a 22-year history of investing in startups across a wide cross-section of energy innovation and a track record of collaboration to bring innovation to scale. The Ocergy investment is made from CTV’s Future Energy Fund which identifies technology solutions needed for the energy transition including industrial decarbonization, emerging mobility and energy decentralization.
In addition to funding, Moreld announced the formation of MOW, a company focused on delivery of engineering, procurement, construction and installation (EPCI) contracts in the floating offshore wind industry. The Moreld Group is already a well-established player in the offshore floating wind space, with competencies within FEED, marine services and product solutions. Moreld is owned by funds managed by HitecVision, a private equity investor in the European energy industry specializing in investments in renewable energy. MOW has recently hired industry veteran Kristian Ravn to serve as the company’s CEO. Ravn has held multiple C-level management positions in companies executing both green and brownfield projects.
This investment positions Ocergy to advance floating offshore wind and compete for gigawatt-scale commercial projects. The cooperation agreement signed between Ocergy and MOW provides a platform for executing commercial-scale projects for Ocergy’s OCG-Wind solution worldwide. This partnership integrates promising low-cost FOWT technologies with the necessary EPCI leadership to develop a fully industrialized FOWT supply chain in all regions of the globe.
Photo: Ocergy’s OCG-Wind and OCG-Data platforms