Hexicon receives 25 MSEK through an oversubscribed issue of new shares

Hexicon AB has successfully completed a 25 million SEK new share issue to ensure the financing of the development of their innovative platform for offshore wind power at great depths.

The new share issue enables a faster and more powerful implementation of floating platforms for offshore wind power. The share issue amounted to 20 MSEK and the Board has decided to execute an oversubscription option that amounts to a further 5 MSEK. All available shares have been allocated to existing shareholders and new investors. Index Equity Sweden AB has subscribed for approximately 35% of the total number of issued shares, and will thus hold about 10% of the total number of outstanding shares in Hexicon. This means that the Index Group will become the second largest shareholder in Hexicon after the new shares have been registered. The largest shareholder is the Swedish pension fund Gamla Livförsäkringsaktiebolaget SEB Trygg Liv.

Hexicon designs semi-submersible platforms for offshore windpower. Hexicon’s platforms enables standardised, effective offshore production of renewable energy. The platform allows the wind farms to be established at great depths, out of sight from the shore, in areas where the environmental impact is minimal and where the winds are strong and stable - and still be near the end users of electricity. Hexicon expands the potential of wind power as a source of renewable energy.

"This share issue will enable us to intensify our project at Dounreay in northern Scotland where our first platform will be built and seize additional business opportunities in this rapidly growing global market" says Henrik Baltscheffsky, CEO of Hexicon.

To contact: Henrik Baltscheffsky, +46 734 234439 or henrik.baltscheffsky@hexicon.eu

G&W Fondkommission has acted as financial advisor to Hexicon.

The Hexicon floating platforms offers large scale offshore wind energy production, in locations not normally suitable due to sea depth or seabed conditions. The turning platform concept was initiated by innovators from the marine and the wind energy industry. Hexicon AB was founded in 2009 and is a design and engineering company which provides know how, solutions and IP rights.

Henrik Baltscheffsky, 46 (0) 734 234 439,  henrik.baltscheffsky@hexicon.eu

Hexicon is a Swedish Design and Engineering house developing floating multi-turbine platforms. Our patented technology enables the platform to align with the wind direction, maximising energy yield from free wind for its turbines. This enables efficient harvesting of the best offshore energy resources further offshore in deeper waters.

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Hexicon is a Swedish Design and Engineering house developing floating multi-turbine platforms. Our patented technology enables the platform to align with the wind direction, maximising energy yield from free wind for its turbines. This enables efficient harvesting of the best offshore energy resources further offshore in deeper waters. www.hexicon.eu

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Stockholm based Hexicon was founded 2009 and is specialized in multi turbine floating platforms for offshore renewable energy
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This share issue will enable us to intensify our project at Dounreay in northern Scotland where our first platform will be built and seize additional business opportunities in this rapidly growing global market.
Henrik Baltscheffsky