12 September 2024 - Energy and marine consultancy ABL Group has entered into an
agreement to acquire 100 percent of the shares of Hidromod - Portugal's leading
consultancy in water management solutions and numerical modelling.

Through this acquisition, ABL Group expands its service offering to water
management consultancy to support offshore, coastal and inland assets and
projects, including with Hidromod's proprietary subscription-based software
AquaSafe. The deal will also enhance existing offerings in ports and harbours
consultancy and in climate change risk assessment and adaptation.

"We are excited to welcome Hidromod as part of ABL Group. Water is fundamental
to our planet's sustainability, both in terms of its essential properties to
life and in the risks it poses to infrastructure and communities as climate
change effects take hold. Hidromod provides vital and innovative solutions that
will bring considerable value to the clients and markets we serve, whilst
opening the door to drive sustainability in new sectors," comments ABL Group's
CEO, Reuben Segal.

ABOUT HIDROMOD
Established in 1992, Hidromod specialises in numerical modelling and digital
twin solutions to simulate and predict the behaviour of coastal systems,
estuaries, catchments and other water bodies. By leveraging its data-science
skills, the company provides real-time insights and advanced forecasting,
enabling a comprehensive understanding of past, present and future conditions.
The company is based in Lisbon and has 16 employees, including five PhDs, and
delivered revenue of approximately EUR 1 million in 2023. 

Its solutions are applied to provide accurate evaluations of specific scenarios
and improve efficiency in ports and harbours, offshore aquaculture and renewable
energy, inland water management covering river engineering and agricultural
projects. Hidromod's software solution, AquaSafe, is a digital decision support
system, designed to process mass datasets and output clear and easy-to-use
analyses regarding water behaviours in a particular location or relevant to a
project. 

STRATEGIC RATIONALE
The acquisition represents an opportunity to globalise and expand Hidromod's
unique expertise and services, leveraging ABL Group's expansive global footprint
and multi-disciplined teams. 

Further, Hidromod's AquaSafe software has significant potential for application
across a wider cross-section of industries and to more markets, which ABL Group
can provide the entry point for. 

The acquisition of Hidromod also represents an opportunity to expand ABL Group's
operations in Portugal, including provision of its marine and renewable energy
consultancy to support the local market, leveraging Hidromod's established
market presence and reputation.

The parties have not disclosed the financial details of the transaction, which
is expected to be completed in October 2024. 


(ENDS)

For further information, please contact:

Investors and financial media:
Stuart Jackson, Chief Financial Officer, email: stuart.jackson@abl-group.com