The Swedish Energy-tech company SeaTwirl signs Memorandum of Understanding with Canadian Aks Wind Energy Corporation ("Aks Wind") with the purpose to collaborate in exploring and developing the Canadian market for SeaTwirl's floating offshore wind turbine technology.

SeaTwirl announces today that a Memorandum of Understanding has been signed with Canadian Aks Wind to establish a framework of cooperation for business development with the intention of exploring a long-term partnership.

By design, the Aks Wind team unites Indigenous leadership, technology depth, and major projects development experience to unlock SeaTwirl's floating-wind opportunity across British Columbia and Canada.

Working together to identify sites in Canada will allow SeaTwirl to explore opportunities when it comes to potential buyers for electricity and potential local contractors in Canada. The collaboration will also include exploring contracting and financing of such projects including obtaining relevant permits and grid connection as well as running environmental and other impact studies.

"SeaTwirl's floating-wind design is uniquely suited to British Colombia's deep, energetic waters and can deliver clean power with an exceptionally small environmental footprint. We are excited to bring that capability to Canada and to help meet the call, from Indigenous nations, British Columbians, and all Canadians, for climate-positive energy that also drives strong regional economic growth", says David Carten, CEO of Aks Wind Energy Corporation.

"We are thrilled to enter into this collaboration to explore and develop the Canadian market for floating wind power. After more than six months of preparations and meetings with supply chain, academia, local communities, policymakers, and investors, the time is right to take this important step. In a time when the relationship between Europe and Canada is quickly strengthening we see major opportunity in this market where the waters are deep, the winds are strong, a need for new power is immense and SeaTwirl turbine fits perfectly with Canada's existing supply chain and infrastructure", says Johan Sandberg, CEO of SeaTwirl AB.

For more information, please contact:

Johan Sandberg, CEO, SeaTwirl AB
Phone: +46 72 174 85 27
E-mail: johan.sandberg@seatwirl.com

Ulrika Lenhammar, Communications & Investor Relations Manager, SeaTwirl AB
Phone: +46 70 68 747 70
E-mail: ulrika.lenhammar@seatwirl.com

About SeaTwirl

SeaTwirl AB is a Swedish energy-tech company within offshore wind power with the purpose to enable floating offshore wind - wherever it is needed. SeaTwirl's unique floating vertical-axis wind turbine has a low center of gravity, a slim substructure, and a generator house accessible at the sea surface enabling small, cost efficient, and locally available vessels to maintain it. The company is listed on Nasdaq First North Growth Market since 2016. Read more at: https://seatwirl.com.

The company's Certified Adviser is Vator Securities AB.

About Aks Wind Energy Corporation

Aks Wind, founded by Canadians David Carten, Melanie Mark, and Jon Dogterom, brings expertise in VAWT technology, local networks, Indigenous community engagement, government program navigation, renewable energy project development, and business acceleration. By design, the Aks Wind team unites Indigenous leadership, technology depth, and major project development experience to unlock floating-wind opportunities across British Columbia and Canada.

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