HAV Group ASA — M&A Activity 2023

Oct 18, 2023

HAV Group: Partner for Fjord1’s Lavik-Oppedal ferries

HAV Group: Partner for Fjord1’s Lavik-Oppedal ferries

18 October 2023 – The Norwegian Public Roads Administration (NPRA) has today notified Norwegian ferry operator Fjord1 that it has been selected to develop and operate a next-generation autonomous ferry concept for the Lavik-Oppedal crossing in Norway. Contingent of a final contract award, Fjord1 has committed to utilise HAV Group as technology partner and key supplier to the four newbuild, autonomous zero-emission ferries that will operate the Lavik-Oppedal route.

HAV Group’s involvement in the project is subject to the final contract being awarded from NPRA to Fjord1 following a mandatory ten-day standstill period, and subject to final contracts being entered into with HAV Group. The potential contracts will be based on a future-oriented operating concept that Fjord1 has developed together with HAV Group.

Subject to the above conditions, HAV Group’s ship design business will deliver ship design and an engineering package for the next generation of four electric ferries that will be able to operate with a high degree of automation of vessel functions and autonomous navigation. Further, HAV Group’s energy and smart control business will act as system integrator and provide complete system deliveries for power system, automation and bridge design including navigation and communication solutions for the four ferries, plus supply two onshore charging stations. It will also develop and deliver systems for automation of vessel functions and autonomous navigation for the operating concept.

“This project can potentially become one of HAV Group’s largest contracts ever. Moreover, it can elevate our position as supplier of vessel concepts with a high degree of autonomy and automation of functions that replace manual operations on board and on land. I must stress that there are several steps to take before any contracts are signed, but today’s news puts HAV Group in pole position as designer, developer and supplier to these four cutting-edge ferries,” says Gunnar Larsen, CEO of HAV Group.

Lavik–Oppedal is a ferry route that crosses the Sognefjord, on the northwest coast of Norway, from Lavik in Høyanger municipality to Ytre Oppedal in Gulen municipality. The ferry crossing takes 20 minutes and the route is 5.6 kilometres long. Four newbuild zero emission ferries will operate the route from 1 September 2026 onwards. Complete implementation of automation functions and autonomous systems, including autocrossing and autodocking, are required from January 2027, while fully autonomous navigation should be implemented from January 2028.

(ENDS)

For further information, please contact:

Gunnar Larsen, CEO

gunnar.larsen@havgroup.no

+47 901 05 694

About HAV Group | www.havgroup.no

HAV Group and its subsidiaries (together: “HAV Group”) is an international provider of technology and services for maritime and marine industries. HAV Group has several decades of industry experience, in addition to special expertise in guiding the marine and maritime industries through the green shift and towards the goal of zero emissions. HAV Group ASA is listed on Euronext Growth under the ticker code HAV.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Daniel Kopperstad, Head of Legal Affairs, on 18 October 2023 at 13:05 CET.