16 December 2021 - AqualisBraemar LOC Group has acquired the remaining 29
percent stake in Innosea - a leading engineering, design and R&D consulting firm
specialising in marine renewables - increasing its total shareholding to 100
percent. 

"We are delighted to take full ownership of Innosea. The company is rapidly
growing and has proven to be a vital part of our service offering to the
renewables sector. We have an ambition that 50 percent of our group's revenues
should come from sustainability and energy transition services by 2025. Innosea
will play a key part in this," says David Wells, CEO of AqualisBraemar LOC. 

Innosea was founded by Hakim Mouslim, Bruno Borgarino and 3 other researchers in
2012, as a technology spin-off from Ecole Centrale de Nantes. Today, the company
has offices in Nantes and Marseille in France as well as in Edinburgh, Scotland.


Innosea is one of the few independent specialists in Integrated analysis of
fixed and floating offshore wind turbines. Further, the company offers design
and engineering consultancy to all marine renewable energies - wind, solar, wave
and tidal - with a large track-record of multi-national R&D, demonstration and
commercial projects that are at the cutting edge of technology and device
development. Innosea is also the leading engineering consultancy for floating
solar PV with more than 90 projects worldwide.

"Becoming fully owned by AqualisBraemar LOC marks a continuity of the
integration and cooperation with all of the group's global office network and
competence base. This allows us to provide wider and stronger support to our
clients, which in turn translates to more rapid expansion of activities," says
Hakim Mouslim, managing director and co-founder of Innosea. 

AqualisBraemar LOC Group today employs more than 900 people in 39 countries
worldwide. The group operates in the renewables sectors through the Innosea,
OWC, AqualisBraemar LOC, Longitude and East Point Geo brands.

"We are already collaborating with some of our sister companies and have
identified a matching culture with a robust approach to technical excellence and
client delivery. It is great to be part of a group that is dedicated to driving
a responsible energy transition, and we are keen to develop an additional set of
services around climate change adaptation and resilience of offshore and
maritime assets," says Bruno Borgarino, CTO and co-founder of Innosea. 

ENDS

For further media information, please contact:
Investors and financial media:
Haakon Brandrud, Director of Strategy and Corporate Development 
Tel: +47 95 07 05 12

Other media enquiries:
Endre Aaberg Johansen 
Tel: +47 41 61 06 05
Email: endre.johansen@corpcom.no 

About AqualisBraemar LOC ASA
AqualisBraemar LOC ASA (OSE: Aqua) offers independent energy and marine
consultancy to the global renewables, maritime and oil and gas sectors. The
group has offices in 39 countries worldwide. AqualisBraemar LOC ASA operates
under seven brands: AqualisBraemar LOC, OWC, Innosea, Longitude, JLA, East Point
Geo and ABL Yachts.