Akastor, AGR’s parent company, has joined forces with the IKM Group, a Norwegian pioneer in the energy industry, to establish a new renewables business.

Føn Energy Services will offer integrated Operations and Maintenance (O&M) solutions to developers, operators, suppliers and owners of offshore renewables infrastructure, and in particular offshore wind farms.

The joint venture will comprise AGR and two companies within the IKM Group, which have world-class operational capabilities and an established track record in the wind industry.

AGR will bring its multi-disciplinary engineering consultancy and software skills to the newly established organisation while Akastor will provide access to capital markets and its global network.

The new venture will have a team of approximately 90 employees from day one, including specialist engineers and offshore technicians.

The management of Føn Energy Services plans to develop the company rapidly through a combination of organic growth and acquisition.

Collaboration agreements with leading global offshore wind license holders, including Aker Offshore Wind have already been secured.