Both parties will also collaborate on offshore wind projects as the floating renewable market transitions towards the commercialisation phase.
"The agreement with GeoProvider reflects our strategy to build strong partnerships that add value to our clients and increase our capability to take on larger and more complex projects," says Eirik Ellingsen, CEO of Mooreast.
"GeoProvider’s strong track record complements our core competencies as a mooring specialist, allowing us to better meet the demands of the global offshore market.”
In addition, Mooreast has also signed an MOU with Korea Ocean Engineering & Consultants Co to promote joint business and technology collaboration in offshore mooring and seabed anchoring solutions.
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KOCECO, according to Mooreast, has extensive experience in submarine cable laying and underwater engineering services.
Mooreast says this MoU lays the groundwork for future cooperation in the rapidly developing floating offshore wind market in North Asia, which Mooreast is eyeing.
“The two agreements will significantly strengthen Mooreast’s global position and our commitment to our transformation to serve the renewable energy sector.
"Through these partnerships, we are now better equipped to deliver a comprehensive solution for the offshore sector,” says Ellingsen.
Mooreast shares last traded at 13 cents, up 14.55% year to date.
