- Oops!Something went wrong.Please try again later.
TechnipFMC plc FTI recently signed a deal with Magnora, a Norway-based renewable energy company, to jointly develop and promote floating offshore wind prospects.
Magnora is presently an owner of offshore wind, onshore wind and solar development ventures in the renewable energy sector. The partnership will strive to build on Magnora’s recognition in renewable energy along with TechnipFMC’s expertise.
Magnora Offshore Wind already began activating an application for the initial phase of seabed leasing via the Scottish administration's ScotWind Leasing project. Further, the combined entity is considering to take part in the first offshore wind application round in Norway, which opens this year, and also plans to tap new markets in the near-term.
Jonathan Landes, president, subsea, TechnipFMC stated that “Magnora and TechnipFMC bring together decades of combined knowledge regarding the development of profitable offshore energy projects. This partnership reflects TechnipFMC’s ambition to capture a significant position in the renewable offshore energy market. We are delighted to support Magnora Offshore Wind by providing our expertise and know-how in bringing innovative offshore energy solutions to the market.”
Brief on the Company
TechnipFMC is a leading manufacturer and supplier of products, services and fully-integrated technology solutions to the energy industry. The company formed from the January 2017 merger of Technip and FMC Technologies is engaged in designing, producing and servicing technologically-sophisticated systems and products for subsea, onshore/offshore and surface projects.
Zacks Rank & Key Picks
TechnipFMC currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked players in the energy space are Matador Resources Company MTDR, Diamondback Energy, Inc. FANG and Denbury Inc. DEN, each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TechnipFMC plc (FTI) : Free Stock Analysis Report
Matador Resources Company (MTDR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research