Velan’s subsidiaries secure $63M contracts

07 June 2019

Two of Velan’s subsidiaries, Velan ABV Srl and Velan SAS, have secured contracts with a total value of USD 63M. First, the extension of a previous order with MODEC and the second, a contract with ITER for their tokamak cooling water system.

In addition to last’s years contracts, Velan Inc's wholly owned subsidiary located in Lucca, Italy, has been awarded another contract for the supply of actuated and manual valves to MODEC Offshore Production Systems (Singapore) Pte. Ltd.

Velan ABV signed contracts with MODEC for the supply of riser and topside actuated valves as well as compact manual ball valves for their new Floating Production Storage and Offloading (FPSO) MV31 Guanabara vessel. The FPSO will be deployed at the Mero (former Libra) field operated by Petróleo Brasileiro S.A. (Petrobras). The scope of supply consists of high and ultra-high pressure forged valves.

The ITER Tokamak and plant auxiliary systems will produce an average of 500 MW of heat during a typical plasma pulse cycle, with a peak of more than 1100 MW during the plasma burn phase; all of this heat needs to be dissipated to the environment. This is accomplished by the evaporation of HRS water as it passes through the induced-draft cooling towers. The high rate of evaporation concentrates minerals in the HRS water; as a result, part of the water is continuously discharged from the system and replaced by water from the Canal de Provence. The discharged water passes through a series of control basins where the water is tested for various parameters such as temperature (maximum 30°C), pH, and the presence of hydrocarbons, chlorides, sulphates, and tritium.