On 10 July 2007, StatoilHydro entered into an agreement that gave the company a substantial ownership interest in the company Sway.
Sway has developed promising solutions for floating windmills in deep waters, where the concept is to develop floating 5 MW windmills which will be able to operate even at ocean depths as great as 300 metres.
The first full-scale windmill is expected to be built and installed during the period 2010 to 2012.
In addition to the interest in Sway, StatoilHydro also acquired a 14 per cent holding in ChapDrive in 2007.
This technology company has developed a patented system for hydraulic power transmission for windmills and tide mills. ChapDrive originated at the Norwegian University of Science and technology (NTNU).
