BW Ideol AS

Floatgen achieves continuous capacity factor of nearly 60%

BW Ideol is pleased to announce continuously strong operational results from its

5-year-old Floatgen demonstrator, showing a capacity factor of nearly 60% over

the last three months and a production of 25GWh since its 2018 commissioning.

France's first and only floating wind turbine continues to prove its reliable

performance capabilities and delivered an average capacity factor of 59.2% over

a 3-month period ranging from November 2022 to January 2023. The 25 GWh-

milestone was reached just after the major Atlantic storm Gerard in late

January. The Floatgen turbine, mounted on BW Ideol's patented Damping Pool®

foundation, handled wind speeds up to 37.30 metres per second (equivalent to

134 km/h) and up to 5.5 metres of significant wave height (equivalent to around

10.5 meters maximum wave height).

"Floatgen - one of the few floating wind turbines currently in operation across

the globe - continues to deliver outstanding results in terms of reliability,

efficiency and production. It keeps on validating the merits of our unique

floating offshore wind technology, even in the harshest environments. Such

repeated performance, high availability and consequently high capacity factor

underlines the benefits of floating wind and its ability to capture the best

possible wind resources without depth constraints, contributing to a much needed

energy resilience in the process" said Paul de la Guérivière, the CEO of BW

Ideol.

Floatgen is a 2 MW demonstrator equipped with the world's first concrete hull

for floating offshore wind. It is operating in 33 metres water depth off the

coast of Le Croisic (Western France) since 2018. It provides electricity to

approximately 3,000 households. This industry-changing full-scale prototype is

owned, operated and maintained by BW Ideol, generates amounts of valuable

operational data and enables our own teams to develop an industry-leading hands-

on expertise and track-record in terms of floating offshore wind O&M. This

unique asset also serves as a full-scale and real-conditions R&D platform to

qualify new components and methods as well as perform environmental impact

studies.

About BW Ideol:

BW Ideol is a leading fully integrated platform in floating offshore wind with

more than 12 years of experience from design, execution and development of

floating wind projects based on our patented floating offshore wind technology

and engineering capabilities. The company has a dual-leg growth strategy as a

floater EPCI and maintenance services provider and as a wind-farm project

developer and co-owner. BW Ideol has two full-scale offshore floating wind

turbines in operation in France and Japan, a significant project pipeline, and

is supported by BW Offshore's extensive experience from developing and operating

offshore energy production systems.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act.

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