IHCB SBM Offshore NV

July 5, 2024

SBM Offshore and Technip Energies announce the formal implementation of Ekwil, a 50/50 Floating Offshore Wind (FOW) joint-venture.

Ekwil is a pure player delivery partner offering a diversified range of ‘series production’ Floating Offshore Wind solutions to meet the growing and demanding needs of energy customers around the world.

Ekwil brings together unrivalled expertise and experience of two energy transition leaders to collectively power progress with the two leading-edge technologies - Semi-submersible INO15 by T.ENTM and Tension Leg Platform Float4WindTM by SBM Offshore. This approach covers a large spectrum of the FOW market, aiming to bring these technologies to commercial deployment.

Headquartered in France, Ekwil relies on a core team of 40 specialists, bringing together knowledge and innovation capacities in a fully integrated team, and will be backed by the talented resources of SBM Offshore and Technip Energies for project execution.

With 25 years of experience in the offshore industry, Séverine Baudic, formerly Managing Director of New Energies & Services at SBM Offshore, is the CEO of Ekwil. Willy Gauttier, previously VP Floating Offshore Wind of Technip Energies, is the COO.

Arnaud Pieton, CEO of Technip Energies, commented: “By bringing together two world leading players, Ekwil will accelerate the deployment of industrial solutions for the nascent Floating Offshore Wind market. This joint-venture with SBM Offshore illustrates the commitment of Technip Energies to provide a diversified and expanding range of low-carbon solutions to support the global net-zero trajectory.”

Øivind Tangen, CEO of SBM Offshore commented: “It’s just a question of time for market potential in Floating Offshore Wind power to materialize. This collaboration with Technip Energies ensures the availability of optimal solutions with certainty and reliability in delivery. Ekwil leads both partners towards success, pioneering new standards in renewable energy and driving progress towards a net-zero future.”

Séverine Baudic, CEO of Ekwil concluded: “Today’s launch of Ekwil marks a significant step to power progress in the floating offshore wind market, combining industry-leading expertise and solutions. I am proud to have the trust and commitment of SBM Offshore and Technip Energies and look forward to leading our talented teams towards a greener future for all.”        

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over the counter.

For further information: www.ten.com

About SBM Offshore

SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.

More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.

For further information, please visit our website at www.sbmoffshore.com.

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Disclaimer

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4WindTM” are proprietary marks owned by SBM Offshore.

Attachment

• SBM Offshore and Technip Energies reach implementation of Ekwil, a company dedicated to Floating Offshore Wind

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