Dublin Offshore Technology (DOT), the Irish company behind a new generation of high-performance permanent mooring systems, has closed a strategic investment round led by the Japanese construction and engineering giant, Shimizu Corporation.
The investment, structured as a Share Subscription agreement, was led by Shimizu’s Corporate Venture Capital (CVC) team — marking the first time the team has taken the role of Lead Investor in a transaction. The round also saw participation from the Irish government’s enterprise development agency, Enterprise Ireland.
This funding will significantly enhance Dublin Offshore Technology’s capacity to scale its business, accelerate international growth and drive further technical innovation.
Building on a Proven Partnership
The investment formalises a robust technical collaboration that has been ongoing between Shimizu and Dublin Offshore Technology for over three years. Shimizu Corporation sees immense potential in Dublin Offshore’s core technology, which is transformative in reducing the cost and risk profile associated with permanent mooring systems, a critical factor for scaling offshore energy projects, particularly floating offshore wind.
Shimizu’s investment is the first step in a broader plan to pursue joint projects and potential joint ventures, starting in the Asia-Pacific region, where Shimizu has an established leading market position.
Masanobu Onishi, Executive Vice President of Shimizu Corporation, commented:
“Shimizu Corporation is focusing on the offshore wind sector to realize a sustainable society. DOT’s technology has the potential to be a game-changer in the industry. Through this investment, we look forward to deepening our partnership and pioneering the future of new energy together.”
Darren Hayes, Director, Dublin Offshore Technology, said:
“This is an important moment for us. This investment marks a pivotal moment in our mission to reduce the risk and cost of high-performance permanent mooring systems. It builds directly on our groundbreaking innovation, which has now reached conclusion with the certification issued by DNV, strongly validating our engineering expertise. This milestone positions Dublin Offshore Technology at the forefront of mooring technology innovation. By deepening our collaboration with Shimizu, we are now positioned to accelerate our growth, utilizing their industrial strength to deliver our technology and achieve an impactful entry into the Asian market.”
Strong Support from Partners
Enterprise Ireland participated in the round to back DOT’s move from proven technology to international delivery. The agency recognises the company’s important contribution to the global offshore wind supply chain and sees DOT as a company with the potential to scale internationally. Its support is aimed at helping DOT expand export capability, build out its delivery model and strengthen the company as it enters new markets.
Tom Cusack, Head of ClimateTech, Food, Drink & Nutrition at Enterprise Ireland, said:
“Enterprise Ireland is proud to support Dublin Offshore Technology (DOT) as it scales internationally, bringing its new innovative technology to global markets and strengthening a vital segment of Ireland’s offshore wind supply chain. This investment reflects our commitment to support innovative Irish companies who are delivering cutting-edge solutions for global challenges, and it also directly supports the ambitions of the National Offshore Wind Industrial Strategy. Enterprise Ireland’s ambition is that Irish enterprises become the primary driver of the Irish economy, and DOT’s technology and ambition position it as an important contributor to Ireland’s growing offshore wind ecosystem.”
ESB (Electricity Supply Board), Ireland’s state-owned electricity company, has been an existing shareholder since providing the original seed investment in 2023, recognising the LRD as a practical solution to reducing mooring loads and improving reliability in critical mooring systems. The latest investment round, and Shimizu’s lead role, is viewed by ESB as a strong endorsement of DOT’s progress and underlying value offering from its core technology and expertise.
Desmond Lalor, Emerging Technology Manager at ESB Innovation, said:
“The series A funding round was very positive. It will enable further technology development and demonstration and open new market opportunities in the Far East and elsewhere. The next few years will be a very exciting time for DOT.”