Memorandum of Understanding (MoU) to optimize Penguin WEC technology
Tuesday 8 October, 2019
Saipem and the Finnish company Wello OY have signed a Memorandum of Understanding (MoU) to optimize WEC Penguin technology, one of the most promising among the new systems for the production of energy from marine waves. The objective of the agreement is the development of future initiatives in the sector.
Leveraging its long experience in the execution of offshore projects in harsh environments and in the field of naval engineering, Saipem will support Wello OY to optimize the installation procedure and operability of the WEC Penguin technology. This synergy will make it possible to obtain a competitive advantage with which to seize the commercial opportunities offered by the sector.
At the same time, in order to provide its clients with new and efficient solutions, Saipem is investigating further applications of this same technology to the traditional infrastructures of the Oil&Gas market. These include offshore platforms, with the aim of improving both their energy efficiency and reducing their environmental impact for an increasingly sustainable production of energy.
“Thanks to the engagement efforts by its XSIGHT Division, Saipem aspires to become a key player in the field of marine energy, a renewable source which, in the near future, will play a crucial role in the energy transition”, stated Francesco Balestrino, Renewables and Green Technologies Business Development Manager from Saipem’s XSIGHT Division, who continued: “XSIGHT is committed to scouting for the most innovative and promising technologies available on the market and to providing technological and financial support to their development with a view to making them suitable for commercialisation. Specifically, through Sabella, a company of the Saipem group, we aim to seek out and promote novel initiatives with the purpose of testing innovative technologies and helping them grow”.
For more information: Heikki Paakkinen, CEO, Wello, tel: +358 407575469, e-mail: Heikki.email@example.com