Aquaterra Energy and Seawind Ocean Technology sign agreement for the development of world’s largest offshore floating wind and green hydrogen production project

Norwich, UK, 26 September 2022:Aquaterra Energy,a leader in global offshore engineering solutions, today announces an agreement with Seawind Ocean Technology, a leading turnkey supplier of floating and bottom fixed offshore wind assets,to co-develop the world's largest offshore floating wind and green hydrogen production project, named HyMed, with 3.2GW of production expected by 2027 in Italian ultra-deep waters.

The project is currently in its first phase of permitting, with the grid connection and the environmental impact assessments well under way. The wind and hydrogen offshore assets are planned to be developed and constructed by both Aquaterra Energy and Seawind in Italy, opening up thousands of qualified jobs. Aquaterra Energy will provide its offshore engineering and green hydrogen production expertise to ensure the right approach and solutions are chosen to drive the development forward. This will be complimented by Seawind's multiyear expertise on floating offshore wind technology. The collaboration will provide a unique offering and act as a template for future offshore renewable energy projects between the companies including a highly impactful 300MW exclusively hydrogen production project in southwest Greece named "Icarus."

Initial field development of the first asset called HyMed is expected to produce 3.2GW of electricity, of which more than 1GW will be green hydrogen once production units are fully operational. The project partners expect to transport the green hydrogen onshore by pipeline or by vessels to global markets when complete. Hydrogen is at the heart of the energy transition in Europe and this project will leverage the wind electricity and hydrogen markets, starting in Italy.

Anne Haase, Renewables Director at Aquaterra Energy said, "With governments and business recognisingthe value of hydrogen as a vital resource for net zero initiatives, energy security, and guarding against volatile natural gas prices, we are hugely excited by the opportunities for production presented by this new partnership. Seawind's fully integrated and scalable floating wind model offers a clear path to cost-effective industrial scale production - and we are delighted to be able to provide the final piece of the production puzzle for it."

The project will enable Aquaterra Energy to build on expertise established through its previous work on a fully-scalable offshore green hydrogenproduction model, and apply it to Seawind's unique approach to floating offshore wind, which could significantly accelerate the production process. Haase added, "Through our work on Project Haldane we have developed industry leading hydrogen expertise within the business and are extremely enthusiastic to partner with Seawind to assist in accelerating its innovative production strategy."

Dimitrios Moudouris, CEO at Seawind Ocean Technology comments: "We are pleased to partner with Aquaterra Energy in these highly impactful projects in Italy and Greece. We consider the Mediterranean to be the best area where significant offshore wind projects can be developed and cross-border synergies can be made, serving Europe and MENA. Aquaterra Energy has displayed its expertise and commitment to green hydrogen through existing projects and we identified an experienced partner to enable us to accelerate our ambitious offshore wind and hydrogen project development strategy.

"Aquaterra Energy has developed the most advanced and highly reliable offshore green hydrogen production concept in the market, understands the wider offshore energy marketplace and the range of options and solutions to off-take offshore green hydrogen. Culturally, we feel that Seawind and Aquaterra Energy are a strong fit as our partners as they possess the agility and specialist knowledge to complement our approach to scalability and to accelerate the energy transition. At Seawind we are focused and committed to our vision and mission; to redefine the offshore wind industry."