TechnipFMC, Wilhelmsen, NorSea investing in deep-sea mining

TechnipFMC, Wilhelmsen and NorSea are investing in Norwegian deep-sea mining company Loke Marine Minerals (Loke) to enable the energy transition.

TechnipFMC is a co-investor in Loke Marine Minerals with an ownership of 18% while Wilhelmsen and NorSea together acquired an 18% stake in the company.

Loke and TechnipFMC are jointly developing a patent-pending, autonomous subsea production system that aims to have minimal impact on the environment.

The system targets potential offshore licensing on the Norwegian Continental Shelf (NCS) and internationally.

“We are pleased to partner with Loke in the development of this important resource. 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”, said Jonathan Landes, president Subsea at TechnipFMC.

Marine minerals have been identified by the World Bank, World Economic Forum, and International Energy Agency as one of the potential solutions to meet the increasing demand for metals used in electric vehicle batteries, clean energy technologies, and consumer electronics.

“We are focused on supporting the energy transition in the right way with the right partners throughout the ocean space”, said Jan Eyvin Wang, executive vice president of Wilhelmsen’s New Energy segment.

“Bringing our global footprint and expertise into play in a new potential marine market, Loke Marine Minerals will now be able to benefit from our core maritime competencies, long-standing relationships, digital capabilities, and experience developing offshore wind and hydrogen services and decarbonised solutions”.

Norway is one of the only countries to have formalised marine mineral legislation with the Seabed Mineral Act in 2019. The Norwegian government is expected to make a final decision on licensing approval for exploration and production in 2023.