Deepwater ocean-infrastructure company SBM Offshore has made an initial equity investment in Norwegian energy company Ocean-Power. This follows the Memorandum of Understanding (MoU) signed between the two companies in June 2024.

The move aligns with SBM’s strategic priority to offer solutions in the decarbonisation space and will allow the company to explore the application of its carbon capture technology within the power generation sector.

Ocean-Power promotes the concept of “Blue Power Hub”, which generates electricity using gas turbines in association with carbon capture and storage, resulting in significantly lower CO₂ emissions.

The hub is designed to supply power both to offshore assets and to the national grids, enabling the electrification of both the Norwegian Continental Shelf and the United Kingdom Continental Shelf with minimal or even positive impact on the national grid. It also enables the balancing of renewable energy sources, such as wind power.

Read more about Ocean-Power here.