Ocergy has secured investments from Moreld Ocean Wind (MOW) and Chevron Technology Ventures (CTV) for the commercialization of its sustainable offshore solutions.
The Series A round will fund Ocergy’s OCG-Wind Floating Offshore Wind Turbine (FOWT) technology and OCG-Data environmental monitoring buoy. 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.
“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,” said Ocergy CEO Dominique Roddier.
Chevron Technology Ventures has a 22-year history of investing in startups across a wide cross section of energy innovation. 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 formed MOW, a company focused on delivery of engineering, procurement, construction, and installation (EPCI) contracts in the Floating Offshore Wind Industry. Moreld is owned by funds managed by HitecVision, a leading private equity investor in the European energy industr.
Ocergy advancing floating offshore wind
This investment positions Ocergy as a potential leader in advancing floating offshore wind to successfully compete for gigawatt-scale commercial projects. The Cooperation Agreement signed between Ocergy and MOW provides a strong platform for executing commercial-scale projects for Ocergy’s OCG-Wind solution worldwide.