Bleutec announces Equity Commitment from EnCap Investments

Wednesday, November 30 2022

Wind Energy – Installation Vessel

Bleutec, builder, owner, and operator of Jones Act-compliant offshore wind turbine installation vessels, today announced that it has secured a significant capital commitment from EnCap Investments L.P., a leading provider of equity capital to the independent sector of the U.S. energy industry.

Bleutec management will invest alongside EnCap in the company.

Headquartered in Houston, Bleutec is focused on its innovative Binary Marine Installation Solution (BMIS), which enables a cost-effective alternative to the more expensive heavy-lift jack-up Wind Turbine Installation Vessels currently being employed by the offshore wind sector for foundation and turbine installation.

The BMIS will be built around a Piling Installation Vessel, a Wind Turbine Installation Vessel Light, and Service Operation Vessels. The PIV will feature a gantry crane, capable of lifting up to 4,500 metric tons, a hydraulic hammer, and deck space for the piles. The WTIVL will install wind turbines of up to ~22 megawatts on the foundations and the SOVs will provide the necessary accommodation and crew support services.

“We’re excited to partner with Bleutec and help accelerate the management team’s vision to innovate in the deployment of renewables to the U.S. offshore wind sector,” said EnCap Energy Transition Managing Partner Tim Rebhorn. “The Bleutec team is a natural fit with the EnCap Energy Transition portfolio and we look forward to their continued growth and success.”

“Partnering with EnCap, a strategic capital provider with a strong track record facilitating portfolio company growth, provides the necessary support for Bleutec to quickly develop our Jones Act vessels in order to build our competitive advantage in this nascent market,” said Bleutec Chief Executive Officer and Founder Robin Bodtmann.

The Bleutec team is led by Robin Bodtmann and Bo Jardine, both of whom have extensive engineering, construction, and project management experience in the U.S. offshore industry.

Bo Jardin has informed us that he will soon have more news about the ship’s construction order.