French naval construction giant DCNS has spun off a new marine renewable energy (MRE) division backed by of €100m ($105m) in equity from a fund managed by Bpifrance and supported by compatriot offshore oil contractor Technip and bank BNP Paribas. 

The new entity, DNCS Energies, will focus on development of the trio of MRE technologies of floating wind, in-stream tidal, and ocean thermal energy conversion (Otec), sectors where it has existing pilot projects including the Seareed floating platform and subsidiary OpenHydro’s "open centre” tidal turbine.