Finance News

SolarDuck is excited to announce that it has secured additional funding for the development and deployment of Offshore Floating Solar power technology. This funding sets the company on a path of continued growth, able to further build on its leading position in the Offshore Floating Solar Energy industry, to deliver its first commercial projects and increase its impact as the company works towards its goal of deploying over 1 GW of offshore generated solar electricity by 2030.

As we enter a New Year, the memories of the shocks to the foundations to the US offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been the key themes highlighted by developers to explain why many projects became commercially unviable, as outlined in the most recent US Offshore Wind Report from business intelligence and consulting firm Intelatus Global Partners.

Coretrax, a global leader in oil and gas well integrity and production optimization, is set for further growth with five multi-year contract wins secured for 2024 and plans to grow its footprint in Asia Pacific by a further 30% this year.

ThayerMahan, a world leader in autonomous maritime surveillance solutions, closed $20 million in follow-on Series C funding led by Hanwha Asset Management. Existing investors, including MC2, AE Industrial, I Squared Capital, and Yellow Sub Funding participated pro rata in the round.

W&T Offshore, Inc. announces that the Company has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., Energy XXI GOM, LLC, Energy XXI Gulf Coast, LLC, EPL Oil & Gas, LLC and M21K, LLC (collectively, the “Debtors”), as described in the Order Approving the Purchase And Sale Agreement With W&T Offshore, Inc. issued on January 16, 2024, the closing and effective date of the transaction.

ASCO, a leading global provider of logistics and materials management services, has set ambitious goals for its future with plans to increase business profitability by 50 percent over the next five years, with the majority of its returns coming from new energies by 2030.

Ferd, a family-owned investment company, has acquired a 25 percent stake in the ocean technology group General Oceans. Following several acquisitions in recent years, General Oceans now consists of five world-leading companies covering key areas of ocean technology.

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