BW Ideol AS

BW Ideol and Ardersier Port Authority have signed a strategic partnership agreement

Ardersier Port Authority and BW Ideol have signed a formal partnership agreement

on September 20. Under this agreement, BW Ideol has gained an exclusive and

long-term access to Ardersier Port for the manufacturing of concrete floaters

and both Parties have agreed to explore the set-up of a serial production line

dedicated to the delivery of locally manufactured floating wind substructures

based on BW Ideol's proven Damping Pool ® technology.

The Ardersier Port site is the largest brownfield port in the United Kingdom.

The site comprising 400 acres of port area with access to a 2.2km quay and 350

acres of statutory harbour authority has been identified as one of three sites

on the East coast of the United Kingdom with the size, scale, shape, and

location capable of being an Offshore Renewable Energy Hub Port. By signing this

partnership, BW Ideol is securing a unique access to a strategic asset,

unlocking the bottleneck of port infrastructure availability in Scotland. It

further confirms its ability to industrialize the manufacturing of its solution

and its leading position on the fast-growing Scottish floating wind market.

Dredging works will commence in October with the port targeting a completion by

August 2022.

Paul de la Guérivière, CEO of BW Ideol, declared: "The Scottish government has

actively initiated the development of a large floating wind industry in Scotland

through the Scotwind Leasing and the launch of a consultation for a new Sectoral

Marine Plan for Offshore wind for Innovation and Targeted Oil and Gas

Decarbonisation. This pipeline of projects represents a unique opportunity to

create a dedicated supply chain in Scotland. Faithfull to its industry-leading

track record in terms of local value creation, BW Ideol hereby reaffirms its

strong commitment to manufacture floaters in Scotland, creating a sustainable

floating wind industry and maximizing local content in the process."

Steven Regan of Ardersier Port Authority stated: "The UK has set a world leading

net zero target to build back better which means building back greener. This

strategic partnership allows us to work towards bringing an essential

manufacturing facility to Scotland which complements our vision of using

circular economy practices to deliver the United Kingdoms Energy Transition

plans. At Ardersier we will deliver a world class multi disciplinary facility of

a unique scale that will provide long term sustainable benefits to clients and

communities."

More details on the new Port Masterplan will be provided during a signing

ceremony to come.

BW Ideol is part of the Floating Energy Allyance, a partnership that has

submitted applications to Scotwind Leasing.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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