Floating energy collaboration from Karpowership and Seatrium

Karpowership, the global leader in floating energy solutions, and Seatrium, which provides engineering solutions for the offshore engineering, maritime and energy sectors, are taking their long-standing strategic cooperation to a new stage. The two companies signed a memorandum of understanding to establish a joint venture to develop floating energy and infrastructure solutions in Singapore.

As part of Singapore International Energy Week (SIEW) 2026, Singapore Minister of Energy, Trade and Industry Dr. The memorandum, announced with the participation of Tan See Leng, provides a framework for the joint development of energy and infrastructure solutions that can be put into operation in a short time. It is being considered to expand the cooperation to the Southeast Asian market in the future.

The two companies aim to create an integrated platform that brings together infrastructure development, financing, engineering, construction and operation processes. In this context, Karpowership's expertise in developing, financing, owning and operating floating energy and digital infrastructure projects; It combines Seatrium's offshore engineering, procurement, construction and systems integration competencies. Karpowership's experience in behind-the-meter energy solutions for artificial intelligence applications, which provide electricity directly to the consumption facility, also supports the collaboration.

Solutions that can be considered within the scope of the agreement include Powerships, floating data centers, turbine or hybrid ships and floating nuclear energy solutions. In the long term, the two companies aim to strengthen Singapore's position as a resilient regional hub for rapidly deployable energy and digital infrastructure solutions.

"We aim to provide energy where and when it is needed"

Evaluating the cooperation, Karpowership CEO Orhan Remzi Karadeniz said:

"Access to reliable electricity increasingly determines where industrial investments are directed, how economies grow, and how quickly digitalization goals are realized. At Karpowership, we have pioneered floating energy infrastructure around the world. We have expanded our capabilities from gigawatt-scale behind-the-meter energy solutions for the most developed markets to floating digital infrastructure and turnkey data center solutions covering the entire value chain. Our decades-long relationships with original equipment manufacturers and our technology partners, including Seatrium, These relationships today extend to a global network of commercial partnerships that includes hyperscale cloud and data center operators, positioning Karpowership as a go-to solution provider that can deliver integrated infrastructure solutions quickly and at scale.

This partnership represents a strategically new era in our journey. Our goal with Seatrium is; To implement an integrated platform in Singapore that brings together development, financing, engineering and operating processes. “In this way, we aim to strengthen energy supply security and support growth across Southeast Asia by delivering energy where and when it is needed.”

"We aim to make Singapore the center of next-generation floating energy and digital infrastructure"

Seatrium CEO Chris Ong made the following evaluation about the collaboration:

"The resilience of energy systems is essential to Singapore's long-term competitiveness and Southeast Asia's continued growth. As demand for electricity and digital infrastructure grows rapidly, our industry has a significant opportunity to develop new solutions that combine rapid deployment, flexibility and scale. Leveraging our long-standing strategic relationship with Karpowership, we aim to leverage the best available technologies, including hydrogen-ready electricity generation, to make Singapore the hub of next-generation floating energy and digital infrastructure. Seatrium's deep experience in offshore engineering, systems integration Its capabilities and advanced facilities in Singapore provide a strong foundation for this goal, supporting both the country's needs and opportunities across Southeast Asia.

“This collaboration offers a strategic opportunity for Seatrium to expand our role in the energy infrastructure value chain, create new growth areas and utilize our competencies in infrastructures that will support the future competitiveness of the region.”

By combining their project implementation competencies and commitment to high quality, the two companies aim to support Singapore's ambition to lead the development of next-generation energy and digital infrastructure.

A new phase in the cooperation that has been ongoing since 2018

The memorandum of understanding represents a new phase of cooperation between Karpowership and Seatrium, moving from the delivery of individual projects to the joint development of infrastructure opportunities.

Seatrium has completed the conversion of seven floating LNG storage and regasification units (FSRU) for Karpowership since 2018. The transformation projects of the eighth and ninth units were also given to Seatrium this year. These projects support the deployment of Karpowership's solutions for electricity generation from LNG in international markets.

The two companies also signed a contract in October for the development and integration of Karpowership's hydrogen-ready third-generation Whale class Powerships. These Powerships are planned to be used in countries that need reliable energy supply.

The parties aim to advance negotiations regarding the establishment of the joint venture in the coming months. Implementation of the joint venture will depend on negotiating and signing final contracts and obtaining the necessary approvals.