Norway’s Ugland family is backing a new company to revolutionise floating offshore wind and shipping operations.

Ocean Ventus is promising to mass-produce a lighter type of foundation for the turbines and has designed a new type of ship for easier maintenance.

Knut Ugland’s JJ Ugland is the majority owner through its Nymo offshore shipyard.

The plan is for large-scale production offering “cost-competitive power”.

Ocean Ventus argues that floating wind is moving from the North Sea to global markets to serve the growing demand for renewable energy in areas with waters deeper than 60 metres.