Fortum Buys Stake in Seabased

Finland-based clean energy company, Fortum, has acquired a 10 percent stake in Seabased for an undisclosed value.

Seabased is a Swedish company offering wave energy solutions from design, to manufacture and installation of grid-connected wave parks.

The company is known for its Sotenäs project that was jointly developed with Fortum and the Swedish Energy Agency.

The Swedish Energy Agency awarded an investment grant to Fortum and Seabased for the wave power plant which connected the Low Voltage Marine Substation (LVMS) to the Nordic grid in Kungshamn in 2015.

Shortly thereafter, the first four buoys were connected to their respective wave energy converters and in January 2016 the wave energy park generated electrical power to the Nordic power grid for the first time.

We have worked closely together during the wave power project in Sotenäs and believe there is a potential for a commercially viable solution, something Seabased now will continue to develop,” said Sebastian Johansen, senior technological expert at Fortum. “Fortum is looking forward to future co-operation with Seabased from its new role as an owner.”

We are happy to have Fortum as our new shareholder. To have a major player such as Fortum onboard is a commitment in Seabased as we move towards commercialization,” said Oivind Magnussen, CEO, Seabased.

Share this article

Follow Subsea World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

read more >

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >