US Forged Rings Inc. announces $700M investment in US offshore wind industry

US Forged Rings Inc. (USFR) announced a $700M investment in the US offshore wind industry. It will be used to construct a state-of-the-art tower fabrication facility and a steel forging plant. These two facilities will service the growing domestic offshore wind market with goals of deploying 30 GW by 2030 and 110 GW by 2050. 

​The company is currently studying the locations on the East Coast, and construction is expected to take 16-20 months starting in 2026. The company notes that over 500 jobs will be created in the two facilities.