TechnipFMC and Prysmian Announce Floating Offshore Wind Collaboration Agreement
November 04 2024 - 3:00AM
Business Wire
TechnipFMC (NYSE: FTI) and Prysmian (MILAN: PRY) today announced
the two companies have signed a collaboration agreement to further
accelerate the global development of floating offshore wind to help
meet growing demand for renewable electricity.
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The collaboration agreement brings together the technologies and
competencies of these two offshore industry leaders, providing the
unique capabilities to pioneer a complete water column solution,
from seabed to ocean surface. The collaboration will leverage the
unparalleled expertise of TechnipFMC’s system design and
integration capabilities in dynamic offshore applications with
Prysmian’s global leadership in the production and installation of
submarine power cable systems.
The companies aim to deliver the optimized solution through a
fully integrated Engineering, Procurement, Construction and
Installation (iEPCI™) commercial model. Integrated execution of
this new solution—which includes mooring and anchoring and both
dynamic inter-array and export cable systems—will improve project
economics and derisk execution plans.
Massimo Battaini, CEO at Prysmian, commented: “This agreement is
a great example of a solid cooperation between two industry
leaders. Prysmian’s leadership is defined by our unwavering
commitment to innovation. Our tailor-made solutions for customers
reinforce our capabilities to deliver groundbreaking technology
worldwide, helping to drive the global energy transition.”
Doug Pferdehirt, Chair and CEO at TechnipFMC, commented: “We are
excited to partner with Prysmian, the worldwide leader in cabling
solutions for the energy transition and digital transformation. The
collaboration strengthens both companies’ position in this emerging
market by providing an integrated solution that accelerates time to
first power and reduces cost, while improving overall system
reliability. This innovative subsea offering will create
significant value for our customers and further differentiate
TechnipFMC as the leading architect for offshore energy.”
Important Information for Investors and
Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in
Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended. The words “expect,” “believe,”
“estimated,” and other similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. Such forward-looking statements involve significant risks,
uncertainties and assumptions that could cause actual results to
differ materially from our historical experience and our present
expectations or projections. For information regarding known
material factors that could cause actual results to differ from
projected results, including our assumptions and projections
regarding the expected benefits of the collaboration agreement,
please see our risk factors set forth in our filings with the
United States Securities and Exchange Commission, which include our
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K. We caution you not to place undue
reliance on any forward-looking statements, which speak only as of
the date hereof. We undertake no obligation to publicly update or
revise any of our forward-looking statements after the date they
are made, whether as a result of new information, future events or
otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional
and new energy industries, delivering fully integrated projects,
products, and services.
With our proprietary technologies and comprehensive solutions,
we are transforming our clients’ project economics, helping them
unlock new possibilities to develop energy resources while reducing
carbon intensity and supporting their energy transition
ambitions.
Organized in two business segments — Subsea and Surface
Technologies — we will continue to advance the industry with our
pioneering integrated ecosystems (such as iEPCI™, iFEED™ and
iComplete™), technology leadership and digital innovation.
Each of our approximately 21,000 employees is driven by a
commitment to our clients’ success, and a culture of strong
execution, purposeful innovation, and challenging industry
conventions.
TechnipFMC uses its website as a channel of distribution of
material company information. To learn more about how we are
driving change in the industry, go to www.TechnipFMC.com
and follow us on X @TechnipFMC.
About Prysmian
Prysmian is a global cabling solutions provider leading the
energy transition and digital transformation. By leveraging its
wide geographical footprint and extensive product range, its track
record of technological leadership and innovation, and a strong
customer base, the company is well-placed to capitalize on its
leading positions and win in new, growing markets. Prysmian’s
business strategy perfectly matches key market drivers by
developing resilient, high-performing, sustainable and innovative
cable solutions in the segments of Transmission, Power Grid,
Electrification and Digital Solutions. Prysmian is a public company
listed on the Italian Stock Exchange, with almost 150 years of
experience, about 30,000 employees, 108 plants and 26 R&D
centres in over 50 countries, and sales of over €15 billion in
2023.
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Prysmian Contacts
Investor relations
Cristina Bifulco Chief Investor Relations, Sustainability and
Communication Officer Email: mariacristina.bifulco@prysmian.com
Media relations
Jonathan Heywood Media Relations & Marketing Director Mob:
+39.331.6573546 Email: media@prysmian.com
jonathan.heywood@prysmian.com
TechnipFMC Contacts
Investor relations
Matt Seinsheimer Senior Vice President, Investor Relations and
Corporate Development Tel: +1 281 260 3665 Email:
InvestorRelations@TechnipFMC.com
James Davis Director, Investor Relations Tel: +1 281 260 3665
Email: InvestorRelations@TechnipFMC.com
Media relations
David Willis Senior Manager, Public Relations Tel: +44 7841
492988 Email: Media@TechnipFMC.com
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