Chevron Makes First Investment in Offshore Wind

The opportunities in offshore wind continue to attract a broad range of well-known companies to the field, the latest being energy company Chevron. Through its venture capital company, which invests in emerging technologies, Chevron and Moreld Ocean Wind are investing in Ocergy, a developmental company working on new designs for offshore wind turbines and an environmental data monitoring buoy.

"We are delighted about this partnership as it will allow Ocergy to advance and commercialize its technologies," said Ocergy CEO Dominique Roddier. "With MOW onboard we gain a trusted partner who will be able to provide an EPCI solution for OCG-Wind, a key requirement for many of our clients. We are excited to have gained Chevron's investment and look forward to potential opportunities for their guidance and expertise executing some of the most complex offshore projects in the world," said Roddier.

These investments will help Ocergy to continue to advance its technologies which it believes can become a key component for gigawatt-scale commercial projects. OCG-Wind is a low-cost foundation designed to support the new generation of very large offshore wind turbines. The hull allows the platform to have a very light weight. 

The company’s second developmental technology is OCG-Data, a multi-disciplinary ocean observer that assists in site assessment with multiple instrumentation packages for resource and environmental characterization. 

"Offshore wind power is undergoing a period of rapid innovation in an effort to provide lower carbon energy at a substantial scale," said Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron. "Ocergy has developed technology that could be part of the solution to enable more affordable, reliable, and ever-cleaner energy in a marine environment."

Chevron Technology Ventures invests in startups across a wide cross-section of energy innovation. The Ocergy investment is made from CTV's Future Energy Fund which identifies technology solutions needed for the energy transition including, industrial decarbonization, emerging mobility, and energy decentralization.