Offshore energy contractor Saipem and offshore renewables technology developer Wello have signed a memorandum of understanding (MoU) to optimise the Finnish company’s Penguin wave energy conversion (WEC) device.
Saipem will support Wello to help it optimise the installation operability of its Penguin technology.
The Penguin WEC is based on a floating hull equipped to transform the motion of ocean waves into energy through a rotator directly connected to a generator.
Saipem is also investigating applications for the Penguin device in the offshore oil and gas sector.
These include enhancing the energy efficiency of offshore platforms and using more renewable energy to power production activities in the sector.
Saipem renewables business development manager Francesco Balestrino said: “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.
“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.”