TechnipFMC and Bombora Form Strategic Partnership to Develop a Floating Wave and Wind Power Project

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) (PARIS: FTI), a global leader in the energy industry, and Bombora, a leading wave energy technology company, have formed a strategic partnership to develop a floating wave and wind power project in support of a more sustainable future.

The relationship brings together TechnipFMC’s unique technologies and experience delivering complex integrated Engineering, Procurement, Construction and Installation (iEPCI™) projects offshore with Bombora’s patented multi-megawatt mWave™ technology that converts wave energy into electricity.

The partnership will initially focus on TechnipFMC and Bombora’s InSPIRE project. With engineering work initiated in November 2020, the partnership is developing a hybrid system utilizing Bombora’s mWave™ technology. The hybrid system demonstrator will deliver 6 megawatts of combined floating wind and wave power, followed by Series 1 and Series 2 commercial platforms which are expected to deliver 12 and 18 megawatts, respectively.

Jonathan Landes, President Subsea at TechnipFMC, commented: “Our core competencies and integration capabilities make us an ideal system architect and partner in developing renewable energy solutions alongside Bombora’s experience and unique, patented mWave™ technology. We are delighted to work on a project that advances our commitment to the environment while contributing toward a more sustainable future.”

Sam Leighton, Bombora’s Managing Director, said: “Bombora is collaborating with TechnipFMC to accelerate development of our floating integrated mWave^TM platform solutions for commercial wind farms. With TechnipFMC’s extensive track record of delivering large-scale projects to the energy sector and Bombora’s innovative mWave^TM technology, we are confident InSPIRE will play a key role in the offshore energy sector.”

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Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

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About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Bombora and mWave™

Based in Pembroke Dock in West Wales, Bombora is a leading marine energy company that has developed a membrane style wave energy converter called ‘mWave™’.

mWave^TM can be located in both nearshore and offshore sites with good wave resources to generate sustainable clean energy. mWave^TM is unique among wave energy converters as it simultaneously addresses the ‘cost of energy’ and ‘ocean wave survivability’ challenges while delivering a utility scale solution.

Bombora is currently completing the 1.5 megawatt mWave^TM Pembrokeshire Demonstration Project in Wales, part funded by £13.4 million from the European Regional Development Fund (ERDF) through the Welsh Government.

Bombora is progressing further opportunities in Lanzarote, Japan, Ireland and Australia.

www.bomborawave.com

For more information, please visit www.inspireoffshoreenergy.com
Images available on request.