The Honourable Lloyd Parrott, Minister of Energy and Mines, is pleased to announce a partnership with Pan Maritime Energy Solutions to advance the company’s new technology that will be used to help anchor floating offshore wind platforms.
The partnership, supported by a $1.1 million investment by both the Provincial Government and Pan Maritime Energy Solutions, will result in a new underwater drilling system for seabed anchors that is faster, more affordable and more environmentally friendly than traditional methods. Phase one of the project will create five full-time jobs and will tap into the ingenuity of Newfoundland and Labrador’s growing marine and ocean technology sector.
With this investment, Newfoundland and Labrador is helping positioning itself to play a major role in the global offshore wind industry. The Provincial Government is preparing a 10-year Energy Plan which will guide the development of renewable and non-renewable resources in an environmentally conscious manner.
The Provincial Government’s investment is being made through the Innovation and Business Development Fund. The fund helps support Newfoundland and Labrador’s oil and gas supply and service capabilities, including opportunities to diversify capacities in other energy sectors, to position Newfoundland and Labrador globally as a preferred location for energy development.
Quotes
“We’re excited to support a local company that is developing new technology for our offshore sector. Pan Maritime’s project will create good-paying jobs for Newfoundlanders and Labradorians and will have multiple spinoffs for our tech and marine industries.”
Honourable Lloyd Parrott
Minister of Energy and Mines
“This investment accelerates Pan Maritime’s work to deliver a state-of-the-art robotic seabed drill. It will support geotechnical site investigations and enable a more efficient, lower-impact micropile anchoring system for floating offshore wind. Advancing this technology here at home positions Newfoundland and Labrador to compete globally. Provincial support helps us build a subsea robotics centre of excellence, strengthen the supply chain, and lead in the energy transition.”
Moya Cahill
CEO and President, Pan Maritime Energy Services
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Innovation and Business Development Fund
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