OpenHydro - DCNS and BpiFrance announce the launch of DCNS Energies, a new marine energy business
06 Jan, 2017
Release Date: 06/01/2017
DCNS, the parent company of OpenHydro and the European leader in naval defence, has announced the creation of DCNS Energies a new marine energy business which will be fully financed by a fund managed by Bpifrance and supported by Technip and BNP Paribas development groups.
DCNS Energies, majority owned by DCNS and 36% by the SPI fund ("Société de Projets Industriels" / Industrial Projects Company) of Bpifrance, will devote its activity to the industrial and commercial development of three marine energy technologies; in-stream tidal turbines, ocean thermal energy conversion (OTEC) and floating offshore wind. A total investment package of € 100 million in equity has been provided by the partners to secure the future of the marine technologies and projects.
The creation of the new subsidiary, follows on from the DCNS acquisition of OpenHydro in 2013. Building on the progress made in the maturation of tidal technology, the group will seek to move to the commercialisation of marine energy projects. The industrial partnership is strengthened by the addition of Technip, which will bring its expertise in the engineering and management of complex marine projects. PNP Paribas Dévelopment have also committed to the new company. For DCNS, the creation of the subsidiary allows for the diversification of its core business in naval defence and provides access to new markets and customers. The subsidiary also secures the ongoing technology and project development of the OpenHydro tidal technology and its global portfolio of projects.
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