To develop the project, Beothuk has partnered with, or is forming commercial relationships with, companies including Jacob Capital Management, Siemens Offshore Wind, Talon Energy and Maderra Engineering.

In October, Talon took an equity stake in Beothuk. Based in St. John's, Talon is an energy services provider to the oil and gas, resource and heavy industrial sectors.

According to Beothuk, the project site will be located about 12.4