SBM Offshore completed the acquisition of a minority stake in Ocean-Power.

SBM Offshore, a global offshore energy solutions provider, completed the acquisition of a minority stake in Ocean-Power, a company specializing in wave energy. Financial terms were not disclosed. "This partnership with SBM Offshore represents a significant milestone for Ocean-Power. SBM’s investment is a strong vote of confidence in our concept and vision for sustainable energy production. Together, we can accelerate the development of solutions that not only reduce carbon emissions but also create value for the energy market and society as such," Erling Ronglan, Ocean-Power CEO.