Aberdeenshire-based OEG ƶijϻ has invested in SEAJET Systems Limited (SEAJET), the developer of an all-electric controlled flow excavation (E-CFE) solution for the offshore energy sector.
According to OEG ƶijϻ, SEAJET has recently patented the "world's first ever" twin electric powered version of the E-CFE technology.
The system, dubbed "revolutionary" is being developed with a "multi-million pound" cash injection.
The company said that the system brings with it "a step change in system performance and operational health, safety and environmental characteristics when compared to older hydraulic-powered CFEs."
The E-CFE tools are currently being manufactured in the north-east of England and will be available for deployment later this year, OEG ƶijϻ said.
It is said that E-CFE can be deployed at every stage of a subsea project's lifecycle, from pre-construction, to execution, operations and maintenance, through to final decommissioning.
Per the press release issued Friday, the new technology has resulted in "major improvements in overall system performance, reliability and significantly reduces health and safety risks on the vessel by eliminating hydraulic hoses and other components associated with older industry technology."
The developers claim that the system also "massively" reduces CO2 emissions and fuel costs by up to 40% and eliminates the risk of high pressure oil leaks into the marine environment.