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NEWCASTLE & HOUSTON & MILAN, November 04, 2024--(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.
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."
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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.