OCEAN Kinetics has announced a significant investment in Irish marine engineering company, MMG Ocean.
The partnership is aiming to drive innovation and growth in the marine engineering sector, with Shetland-based Ocean Kinetics’ 25% investment coming following two past collaborations with MMG Ocean.
Previous work involved the creation of an ‘innovative’ clean energy storage system for the aquaculture sector and the construction of marine grade metal frames for deployment in offshore wind developments.
Ocean Kinetics said that the partnership is already proving to be mutually beneficial. A contract with US company, LDX, for specialised high quality cooling filters – which were fitted at the Intel Leixlip semiconductor facility in Ireland -relied on Ocean Kinetics’ expertise and facilities for the manufacture of these high spec components.
Furthermore, MMG Ocean’s gangways have been installed on the Shetland pelagic fishing fleet vessels Antares, Charisma, and Zephyr, and another will be installed on Antarctic II which is currently being built in Astilleros Zamacona, Bilbao, Spain.
John Henderson, MD of Ocean Kinetics, said, “We are really excited about our partnership with MMG Ocean, which brings together Ocean Kinetics’ extensive industry experience, market reach, and resources with MMG Oceans’ innovative product development, expertise, and access to European markets. It undoubtedly underscores the synergy between the two companies and positions us as industry leaders across a range of sectors.
“Building from an established relationship, we now have a solid base from which to expand our reach and create transformative engineering solutions that bring genuine innovation to the marketplace.”
Martin McGuiness, MD of MMG Ocean, added, “Our collaboration with Ocean Kinetics opens up immense opportunities, and we believe that our partnership will give us the capacity to expand and deliver a much wider offering than each of us currently has.
“Fusing the design expertise and production capacity of both companies gives us the ability to fulfil major contracts in renewables, energy, marine, aquaculture and fisheries, decommissioning, power, and utilities sectors across the UK, Ireland, Europe, and beyond.”
