Integrated Wind Solutions AS (IWS) has published results for the fourth quarter of the year. Highlights from the fourth quarter of 2021 are:
• Positive EBITDA of NOK 3 million for fourth quarter 2021 compared to a negative EBITDA of NOK 8 million in the previous quarter. The improvement in Q4 is driven by ProCon being fully consolidated from 30 September.
• Good progress on the engineering work on the two first Construction Service Operation Vessels (CSOVs) on order with the first steel cut in January 2022. Expected delivery of the vessels in the first and second quarter of 2023 respectively.
• Signed committed term sheet for EUR 56.25 million debt financing in December 2021 for the financing of the two first CSOVs under construction
• Dialog with yard for the ordering of additional CSOVs for delivery early 2024
• Commitment letter received from Enova for support of environmental technology for optional vessels
• Commitment letter received from The Research Council of Norway for grants related to research and development of offshore charging facility to support development of zero emission battery powered vessels
• Management team complete after the appointment of Marius Magelie as CFO
Oslo, 11 February 2022
For further information, please contact:
Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: lhr@integratedwind.com
About Integrated Wind Solutions AS:
Integrated Wind Solutions AS (ticker code: IWS) offers a fleet of state-of-the-art service vessels to the offshore wind industry combined with a suite of adhering services to reduce levelized cost of energy (LCOE) for offshore wind. The Company has two UT5519DE Design Wind Farm Support Vessels under construction with delivery in 2023, and options for up to four additional sister vessels. Furthermore, Integrated Wind Solutions has a supply-chain service company, IWS Services A/S, in Denmark and a 30% ownership in the independent advisor, consultancy, data intelligence and wind farm operator firm, PEAK-Wind Group. Integrated Wind Solutions is headquartered in Oslo, Norway. For more information, see the company website: integratedwind.com.