Hong Kong, June 20th, 2022 – CMIC Ocean En-Tech Holdings Co Ltd (“CMIC” 00206.HK) signed a Strategic Cooperation Agreement (“Strategic Agreement”) with a leading Dutch supplier of on- & offshore lifting solutions, KenzFigee. This aligns with CMIC’s intention to further expand their business as a reputable supplier of equipment for the renewable energy market in China, such as gangways and installation cranes.

Safety and functionality in a wide range of operational environmental factors are key requirements for success of such systems which KenzFigee already has an established track record in supplying to an international clientele. Currently, such technology for the products identified are still in early development stages in China and would require prohibitively long delivery lead times to secure. This has significantly impacted progress of offshore renewable energy projects. The Strategic Agreement brings together two entities with complementing capabilities to adequately addresses these needs.

【The picture of the two parties signing the contract】

With 25 plus years of experiences and a strong track record in the offshore industry, CMIC is leveraging these technologies and experiences to supply equipment, products and services to offshore wind power installations, operations and maintenance projects. With the recent recovery of the Oil & Gas sector, CMIC is well positioned to complement the growth in both renewables as well as in oil and gas, especially to meet the demand within the China Merchant Industry Group which supply various vessel and platforms for both industries.

KenzFigee is a pioneer in the Dutch offshore crane industry founded as early as 1836. It is well reputed with significant experience and industry-leading high-tech design capabilities. KenzFigee provides comprehensive solutions for the worldwide offshore marine renewable energy sectors. KenzFigee has a specialised engineering and service team offering crane and equipment services worldwide, supporting clients from equipment selection to product design, production, assembly, testing, installation, commissioning, as well as after-sales service and maintenance.

“The signing of the Strategic Agreement brings together the strengths of both companies to provide complementary factors of specialised technology, manufacturing capabilities, and project financing to fill an opportune supply gap” said Mr. Jiang Binghua, CEO of CMIC and he added that “It will also effectively support the high growth we will achieve in our renewable energy business. The rich experience KenzFigee brings with its past operations and maintenance services in the North Sea and Southeast Asia will add significant value to the markets in China and the East Asian region.”

The market for global offshore wind power is estimated to exceed 90GW within 5 years. China currently operates nearly half of the world's installed offshore wind power capacity, about 26GW. According to GWEC, in the next five years (2022-2026) China domestic offshore wind power installation will steadily increase and is expected to add 39GW installed. The requirement for offshore wind power remains one of the biggest components of this growth. With this expansion of the offshore wind power market, offshore installation vessel owners have increasingly higher requirements for the adaptability for cost efficient operations and maintenance of vessels.

CMIC

CMIC Ocean En-tech is a leading technology company providing complete engineering, manufacturing and integrated solutions to customers in both onshore and offshore oil and gas, offshore wind and hydrogen sectors.  CMIC is also in the business of investing in energy sectors including the renewable energy sector. CMIC’s major shareholder is the China Merchants & Great Wall Ocean Strategy & Technology Fund (L.P.).

KenzFigee is a leading provider in the designing and supplying of hoisting and lifting solutions on many types of installation, both onshore and offshore. With more than forty years’ experience. KenzFigee covers a full spectrum of services to support its clients from specification to operation, engineering, manufacturing, assembly, testing, installation, and commissioning, as well as service and maintenance.