TechnipFMC dives into seabed mineral extraction to support energy transition

TechnipFMC dives into seabed mineral extraction to support energy transition

A specialist in offshore oil and gas exploration, TechnipFMC is diving into seabed mineral extraction to support the energy transition.

The company has taken a minority stake investment in global maritime industry group Loke Marine Minerals. The partnership aims to meet the increasing demand for metals used in electric vehicle batteries and other clean energy technologies through an autonomous subsea production system, which the companies said would limit the environmental impact.

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Together, TechnipFMC and Loke are targeting potential offshore licensing on the Norwegian Continental Shelf (NSC).

“We are pleased to partner with Loke in the development of this important resource,” said Jonathan Landes, president of subsea at TechnipFMC. “Our culture of collaboration, integration, and innovation, along with our expertise in subsea robotics and extensive history on the NCS can help meet the rising demand for new technologies and resources that are driving the energy transition.”

The NSC is known to have copper, zinc, cobalt, and other rare earth elements. Norway is expected to make a final decision on licensing approval for exploration and production in 2023.

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