Italy’s Prysmian and TechnipFMC (NYSE: FTI) signed an agreement to strengthen the development of floating offshore wind facilities, the companies said on Monday.
The tie-up aims to pioneer a subsea water column solution “from the seabed to ocean surface”, combining TechnipFMS’s design and integration capacities with Prysmian’s submarine power cable systems, the groups said in a joint statement.
“The collaboration strengthens both companies’ position in this emerging market by providing an integrated solution that accelerates time to first power and reduces cost,” TechnipFMC’s Chair and CEO Doug Pferdehirt said in the statement, which did not provide financial details of the deal.
(Source: ReutersReuters)
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate. Read Full Bio
