TechnipFMC completes acquisition of Magma
Published by Bella Weetch,
Editorial Assistant
Global Hydrogen Review,
TechnipFMC has announced that it has completed the acquisition of the outstanding shares of Magma Global (Magma), a provider of composite pipe technology to support the energy transition.
TechnipFMC originally acquired an interest in Magma in 2018, combining its history in flexible pipe technology with the company’s advanced composite capabilities to develop a disruptive composite pipe solution for the traditional and new energy industries.
Magma technology enables the manufacture of Thermoplastic Composite Pipe (TCP) using Polyether Ether Ketone (PEEK) polymer, which is highly resistant to corrosive compounds, such as CO2. When combined with TechnipFMC’s flexible pipe technology, this forms a Hybrid Flexible Pipe (HFP) that will be deployed in the Brazilian pre-salt fields.
Manufactured by a fully automated robotic system, PEEK TCP will also be a critical enabler for both the carbon capture, utilisation and storage (CCUS) and hydrogen transportation markets, and particularly in offshore applications.
Read the article online at: https://www.globalhydrogenreview.com/special-reports/15102021/technipfmc-completes-acquisition-of-magma/
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