Ocergy Inc., a company developing a couple of new offshore wind energy solutions, announced last week that Chevron Technology Ventures and Moreld Ocean Wind (MOW) were investing in its Series A round of funding. The money is expected to help the company commercialize its OCG-Wind Floating Offshore Wind Turbine technology and OCG-Data environmental monitoring buoy.
Bloomberg reported that this is Chevron’s first investment in offshore wind, and it is believed to be the first investment in offshore wind made by any U.S. oil and gas (O&G) major. However, several European O&G companies have been pouring money into the renewable energy sector including offshore wind. Among the big names adding renewables to their portfolios are Total, BP, Royal Dutch Shell, Equinor, Eni, and Repsol.
