Naval defence equipment provider DCNS has formed a marine renewables subsidiary that is also backed by Technip Group, BNP Paribas and Bpifrance.
Bpifrance, the public investment bank of France, and naval defence company DCNS have joined forces to establish marine renewable energy company DCNS Energies with €100m ($107m) in capital.
The funding round was also supported by Technip Group, an engineering firm focused on the energy sector, and BNP Paribas Développement, an investment subsidiary of financial services firm BNP Paribas.
DCNS Energies will be responsible for industrial and commercial development of three marine renewable energy technologies: tidal turbine power, ocean thermal energy…
