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LOKE MARINE MINERALS TO DEVELOP EXTRACTION OF SEABED MINERALS

Loke Marine Minerals announced that it has signed agreements with TechnipFMC, Wilh. Wilhelmsen and NorSea Group in which the Industrial Investors will act as cornerstone investors and subscribing for in aggregate NOK 85 million in an ongoing NOK 115 million private placement of equity in Loke. Following the completion of the placement, TechnipFMC and Wilh. Wilhelmsen will be represented on the Board of Loke, and the Industrial Investors will contribute their world-leading technology, competence and unrivalled networks in subsea, maritime operations and logistics to further Loke’s ambition to become the leading provider of seabed minerals for the green energy transition with the smallest environmental footprint.
Loke Marine Minerals AS was established in 2019 by experienced offshore energy leaders and entrepreneurs to become a leading provider of minerals for the green energy transition. The company has leveraged its E&P and subsea technology experience to develop breakthrough proprietary designs of production equipment and performed studies relating to exploration, production, environmental and economic aspects of the industry, all with the aim to secure top acreage licenses on the basis of extracting seabed minerals with the lowest possible environmental impact.
The private placement of equity will enable Loke to fund further development of enabling technologies, participation in studies and expansion of the Loke team, fully financing and preparing the company to be awarded licences internationally and on the Norwegian Continental Shelf.
“We are very excited and pleased to get these first class and top choice companies to join on the owner side of Loke. We see great benefits for the exciting phase the company now is entering from what they are bringing to the table, with regards to knowledge, experience, and culture. Their complementary business areas is an ideal match with our ambition of becoming an international leading marine minerals company,” says CEO Walter Sognnes of Loke Marine Minerals.
Loke Marine Minerals AS is located in Stavanger, Norway.
(Source: Loke Marine Minerals)