Magma Global

About Magma Global

Magma Global operates as a specialized manufacturer of advanced composite pipes for the subsea oil and gas sector. Established in 2009 by Martin Jones, the firm is headquartered in Portsmouth, United Kingdom. The company developed and produces a high-performance thermoplastic composite pipe (TCP) known as m-pipe®, designed to address challenges of corrosion, temperature, and high pressure in deep-water environments.

The core of Magma Global's offering, the m-pipe®, is constructed from PEEK (Polyether Ether Ketone) polymer and high-quality carbon fiber. This composite structure results in a pipe that is significantly lighter—reportedly one-tenth the weight of comparable steel pipe—while offering high strength and resistance to fatigue and chemical corrosion. Manufacturing is executed through a proprietary, fully automated robotic system that functions like a 3D laser printing process, ensuring high quality and consistency. The product line serves various subsea applications, including risers, jumpers, infield flowlines, and intervention lines, which are critical for both production and well maintenance.

The business model centers on supplying these specialized pipes to oil and gas operators and contractors, aiming to reduce total project expenditures by enabling the use of smaller vessels and faster deployment times. Before its acquisition, Magma Global had secured significant funding, raising $208 million from investors including BGF, Azimuth Capital Management, and Barclays to expand its manufacturing capacity. A key milestone was an initial investment from TechnipFMC in 2018, which evolved into a full acquisition completed in October 2021 for approximately $64 million. This integration combines Magma's composite technology with TechnipFMC's extensive experience in subsea engineering and installation, positioning the technology for broader applications in the energy transition, such as carbon capture, utilization, and storage (CCUS) and hydrogen transport.