Nordic Unmanned ASA

Regulatory Filings • Apr 28, 2021

Nordic Unmanned and Aeromon enter joint venture for the maritime emission monitoring market

Nordic Unmanned and Aeromon enter joint venture for the maritime emission monitoring market

28.4.2021 08:00:01 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

28th of April 2021 - Sandnes, Norway - Nordic Unmanned is pleased to announce

that it has signed an agreement to form a joint venture with the Finnish company

Aeromon, one of the global leaders in development of emission monitoring

technology. The joint venture will strengthen Nordic Unmanned's emission

monitoring service offering within the maritime and oil and gas industry

globally. A key motivation is to add important emission monitoring technology

rights, and to further develop this environmental monitoring technology.

The joint venture will be organized in a new company, which will be owned 60

percent by Nordic Unmanned and 40 percent by Aeromon. The company will be a

world leading system integrator providing mobile maritime emission monitoring

services to end clients. The largest client will be Nordic Unmanned, and the

technology will be used in Nordic Unmanned's existing contracts, and will be

offered to new clients, such as maritime authorities, port authorities, and oil

and gas companies.

Nordic Unmanned will invest EUR1.5 million in the joint venture and will have an

exclusive right to acquire the remaining 40 percent of the shares of the company

based on certain performance criteria.

The company will be co-located with Nordic Unmanned in Sandnes, Norway. The

agreement is expected to have a positive effect on Nordic Unmanned's EBITDA from

Q4 2021. The new technology will be integrated into Nordic Unmanned's fleet of

Schiebel CAMCOPTER S-100s and Staaker BG-200s.

"We are excited to enter this strategic joint venture with Aeromon. Their tried

and tested technology and our experience as operators ensure world class

maritime emission monitoring for our clients. With this joint venture, we will

enter the global maritime and oil and gas emission monitoring market with the

U.S and South-East Asia as the next target markets outside Europe. As the

International Maritime Organization (IMO) regulations are global, the current

service offering we are providing is highly scalable. We expect this new

contract to significantly expand our revenue potential and increase our EBITDA

margin within the Green Solutions business area," said Knut Roar Wiig, CEO of

Nordic Unmanned.

Aeromon has developed maritime emission monitoring technology including hardware

and software since 2015. The company's technology has been utilized in multiple

projects for a leading European maritime authority. Its technology has also been

used by several other clients in emission monitoring.

Maria Kuosa, CEO of Aeromon, sees the joint venture as a major event in the

field of maritime emission monitoring: "The new company formed by Aeromon and

Nordic Unmanned will make industry leading services available to a global

customer base. We are delighted to announce the combination of our cutting edge

technology and the operational abilities of Nordic Unmanned."

The services provided by the new company will consist of:

? Delivery and license of emission monitoring data platform

? Providing emission monitoring equipment as a service

? Providing data analysis and payload operations services (onsite/remote)

The joint venture ensures Nordic Unmanned worldwide exclusive rights to

Aeromon's verified technology in mobile monitoring of ship exhaust emissions,

including SOX and NOX emissions. All maritime emission monitoring related

products and services previously provided by Nordic Unmanned and Aeromon will be

included in the new company.

The joint venture's technology will also be made available to other customers,

including Aeromon's existing maritime customers as well as potential new

customers.

Final establishment of the joint venture is expected to take place in Q3 2021.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com

* Maria Kuosa, CEO, Aeromon, +358 400 775 408, maria@aeromon.io

ABOUT NORDIC UNMANNED

Nordic Unmanned delivers comprehensive data solutions through industry leading

expertise, to assist both public and private customers in the transition to

unmanned technology. The focus is to support demanding clients by collecting

time-critical data with the use of unmanned technology.

Founded in 2014, the company has offices in Sandnes, Oslo, and Frankfurt, and

has quickly become one of Europe's leading providers of unmanned systems and

services, with operations across the continent.The company is ISO 9001-2015

certified by DNV-GL for the operation, maintenance and sales of unmanned systems

and sensor technology.

For more information visit nordicunmanned.com - https://nordicunmanned.com/

ATTACHMENTS

Nordic Unmanned Press Release Aeromon Nordic Unmanned JVC.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/495/619/Nordic%20Unmanned%20Press

%20Release%20Aeromon%20Nordic%20Unmanned%20JVC.pdf