Subsea 7, a world leader in off-shore projects, joins TECNALIA and Vicinay as a shareholder in Nautilus

• Nautilus started in Bizkaia eight years ago and its floating platform technology has become a benchmark in the off-shore wind energy sector.
• With the entry of Subsea 7 as a shareholder, Nautilus will focus on industrialising and commercialising its technology for the off-shore wind power market.
• Its next objectives include building and installing a full-scale prototype, as well as installing its solution on floating wind farms under promotion.

September 4, 2021. Subsea 7, a world leader in off-shore projects and services for the energy industry, has joined TECNALIA and Vicinay as a shareholder in Nautilus Floating Solutions, a company that was set up eight years ago in Bizkaia with the aim of becoming a world leader in developing floating platforms for the off-shore wind power market.

Subsea 7 has reached an agreement with the industrial and technological partners that founded the company in 2013 to become a shareholder of Nautilus. Once the design, development and launch phase has been completed, Nautilus, which has had the support of Tecnalia Ventures, TECNALIA 's deep tech venture builder, will be supported by its new partner Subsea7 in focusing on the industrialisation and commercialisation phases of its solution for the off-shore wind power market, in conjunction with TECNALIA and Vicinay. Its next objectives include building and installing a full-scale prototype, as well as installing its solution on floating wind farms currently under promotion.

Since its creation in 2013, Nautilus has developed and patented an off-shore floating platform technology based on a semi-submersible structure that can be installed in areas where the depth of the seabed makes it impossible to install the existing cemented (fixed) off-shore solutions on the market, which are the areas where 80% of Europe's wind resource is concentrated. The advantages of the structure are based on its design, which allows for manufacturing in conventional shipyards, assembly of the wind turbine in the port and towing and installation using conventional boats.

Following the acquisition, Subsea 7 has taken a 59.12% majority stake in Nautilus and will provide its technical expertise and engineering and project management capabilities, positioning Nautilus as a leader in the offshore floating platform industry.

The founding companies that continue to be partners of Nautilus alongside Subsea 7 are TECNALIA (29.14%), Europe's leading technology research and development centre, which is still Nautilus' principal technology partner, and Vicinay Marine Innovation (11.74%), the research, development and innovation arm of Vicinay Marine Group, a world-class company that designs, manufactures and supplies mooring systems to the oil and gas and floating wind power industries.

About TECNALIA

As part of the BRTA (Basque Research and Technology Alliance), TECNALIA is a benchmark research and technological development centre in Europe, with 1,400 professionals representing 30 different nationalities, focusing on transforming technology into GDP to improve people’s quality of life, by creating business opportunities for Companies. Its main areas of action are: digital transformation, smart manufacturing, energy transition, sustainable mobility, urban ecosystem, and personalised health.

Through TECNALIA Ventures, its deep tech venture builder, the centre works towards identifying and rolling out business opportunities with commercial possibilities, through its advanced technology asset incubation programme.

www.tecnalia.com

About Vicinay Marine

VICINAY MARINE is a world leader in the design, innovation, production and supply of mooring chains and systems for the wind, offshore and naval industries, in addition to providing engineering services and preventive and corrective maintenance services.

VICINAY MARINE has an average staff of 439 people working in the wind, offshore and naval sectors with worldwide representation and quality recognised by the most representative companies in the sector, carrying out activities in its 5 factories (2 in Spain, 1 in China, 1 in Brazil and 1 in Sweden) and marketing its products and services in more than 30 countries through an extensive sales network, being the leading producer of mooring lines worldwide, and providing tailor-made solutions to meet the needs of each customer.

The main markets in which it operates worldwide are oil & gas, naval, wind power, aquaculture, and others such as marine energy, floating constructions, mining, etc.

About Subsea 7

Subsea 7 is a world leader in offshore projects and services for the energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs.