In Norway, -Seaweed Energy Solutions has signed a cooperation agreement with Statoil, in which Statoil has agreed to co-fund SES’s ongoing technology development. The agreement includes plans for a large-scale demonstration project. It marks the first time that SES has won the backing of a leading energy company for its plan of developing seaweed as an important source of energy. The cornerstone of SES technology is the patented Seaweed Carrier – a large purpose-built underwater structure for cultivating seaweed – for mass production. SES is currently carrying out cultivation tests at various locations off the coasts of Norway and Portugal with the support of Stolt Sea Farm and Aqualine. The financial terms of the agreement were not disclosed.