Mooreast Holdings Signs MoU with Norway’s GMC to Unlock Offshore Wind & O&G Opportunities in Norway and North Sea

Date: 23 December 2025
Location: Singapore

Key Highlights

• Mooreast Holdings Ltd. (SGX Catalist-listed) has entered into a Memorandum of Understanding (MoU) with Norway’s GMC Holdings AS, a well-established rigging, installation, and industrial services provider.
• The partnership is directly aimed at capturing emerging business opportunities in floating offshore wind and oil & gas (O&G) projects across Norway and the wider North Sea region.
• Both companies will collaborate by sharing technical know-how and co-developing anchoring, mooring, and engineering solutions tailored to the Norwegian offshore market.
• This collaboration represents a significant step in Mooreast’s European expansion strategy and positions the firm to tap into Norway’s rapidly growing offshore renewable market.

Strategic Partnership Details

Under the terms of the MoU, Mooreast and GMC will:

• Establish a framework for joint business development and pursue projects together in the offshore wind and O&G sectors.
• Facilitate the exchange of technical expertise and best practices in mooring and engineering.
• Work on the development and provision of tailored solutions for the rapidly changing Norwegian offshore sector.

GMC Holdings, with a history dating back to 1973, brings deep local knowledge and a reputation for delivering high-quality, multidisciplinary services including ship services, electrical systems, automation, lifting, and transport equipment. Their strong presence in Northern Europe is expected to minimize operational downtime for offshore installations and enhance project execution efficiency.

Mooreast’s Competitive Advantages and European Ambitions

• Mooreast is recognized as Asia’s only drag-embedment anchor designer and manufacturer—a key differentiator as floating wind technologies scale up.
• The company is leveraging over three decades of experience to deliver innovative mooring solutions to the offshore renewable sector.
• The partnership aligns with Mooreast’s broader ambition to expand in Europe, particularly as Norway sets out to allocate areas for 30 GW of offshore wind by 2040.
• Norway’s first commercial floating wind tender, initiated in May 2025, aims for up to 500 MW at the Utsira Nord site—a project that could provide significant business for the Mooreast-GMC partnership.

Statements from Leadership

Mr. Eirik Ellingsen, CEO of Mooreast: “Norway’s offshore sector continues to evolve rapidly, with significant momentum behind floating renewable projects. We look forward to partnering with GMC to tap into their deep local knowledge and operational strengths to deliver value to floating wind and oil & gas projects.”

Potential Impact on Shareholders and Share Price

• This MoU could be materially price-sensitive for Mooreast shareholders. The European offshore wind market, especially in Norway, is accelerating rapidly. Meaningful wins stemming from this partnership could lead to substantial new contracts and revenue streams.
• Mooreast’s positioning as a specialist in mooring solutions for floating wind farms, combined with GMC’s local network, could accelerate market penetration and project wins.
• The successful execution of this MoU, especially in securing projects under Norway’s 30 GW offshore wind target and upcoming Utsira Nord tender, could significantly improve the company’s growth outlook and valuation.

About Mooreast Holdings Ltd.

Mooreast offers a full suite of mooring solutions—including design, engineering, fabrication, supply, logistics, installation, and commissioning—primarily for the offshore oil & gas, marine, and renewable energy sectors. The company has a proven track record in floating offshore wind projects, with successful prototypes and development work in Japan and Europe.

For more details, visit: https://mooreast.com/

Media and Investor Contact

WeR1 Consultants Pte Ltd
Contact: Isaac Tang
Email: [email protected]
Mobile: +65 9748 0688

Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Investors are urged to conduct their own due diligence and consult their financial advisors before making any investment decisions. The Singapore Exchange Securities Trading Limited (SGX-ST) has not reviewed or approved the content herein. Mooreast Holdings Ltd.’s future performance may be influenced by various risk factors not covered in this article.

View Mooreast Historical chart here