With reference to stock exchange release dated 22 March 2023.

BW Ideol, a global leader in offshore floating wind, and ADEME Investissement, a
state-owned  French financier of innovative  infrastructure projects, have today
entered   into  a  final  agreement  for  a  EUR  40 million  funding  by  ADEME
Investissement of BW Ideol's project development activities.

Under the agreement, BW Ideol will transfer its co-development project portfolio
to   the  project  development  company  BW  Ideol  Projects  Company  SAS  (the
"Reorganisation")  and ADEME  Investissement will  invest an  initial EUR 17,85
million  paid at  the first  financial closing  date planned in September 2023.
Subsequent  capital injections will be based on project funding calls with a co-
financing  at equal  share between  BW Ideol  and ADEME Investissement. When all
funding calls are completed, each of ADEME Investissement and BW Ideol will have
invested EUR 40 million in the development company.

The first financial closing of the transaction remains subject to the completion
of the Reorganisation and in particular the approval by Crown Estate Scotland of
the  transfer of the ownership of BW Ideol's share in Buchan Offshore Wind to BW
Ideol Projects Company.

Following  first closing, BW Ideol will  own 75.8% of BW Ideol Projects Company,
representing  a post-money valuation of BW  Ideol Projects Company of around EUR
74 million.  ADEME Investissement will increase its holding over time as further
projects  are matured and financed. BW Ideol will manage the development company
through a service agreement.

BW  Ideol retains  full ownership  of its  other business activities and assets,
including  technology and  related IP  and know-how  portfolio, the floater EPCI
business  line and the exclusivity with the  Port of Ardersier in Scotland for a
floater  production line,  the Floatgen  demonstrator, and  the ownership in the
EolMed  offshore floating  wind farm  pilot. BW  Ideol will  also retain all its
teams,  including engineering,  business development,  project execution, supply
chain, legal, innovation, finance.

About BW Ideol:
BW Ideol is a leading fully integrated platform in floating offshore wind with
more than 12 years of experience from design, execution and development of
floating wind projects based on our patented floating offshore wind technology
and engineering capabilities. The company has a dual-leg growth strategy as a
floater EPCI and maintenance services provider and as a wind-farm project
developer and co-owner. BW Ideol has two full-scale offshore floating wind
turbines in operation in France and Japan, a significant project pipeline, and
is supported by BW Offshore's extensive experience from developing and operating
offshore energy production systems.

About ADEME Investissement:
Created in December 2018 as part of the Investment for the Future programme,
ADEME Investissement SAS aims to finance innovative infrastructure projects in
the area of ecological and energy transition alongside with private investors.
ADEME Investissement is 100% held by the French State and has a budget of EUR
400 million. For more details: https://www.ademe-investissement.fr/en/

About France 2030:
The France 2030 investment plan:
* Sets out a twofold ambition: sustainably transforming key sectors of our
economy (energy, automotive, aeronautics and space) through technological
innovation, and positioning France not only as a player but as a leader in the
world of tomorrow. From basic research to the emergence of an idea and the
creation of a new product or service, France 2030 supports the entire life cycle
of innovation right up to industrialization.
* France 2030 is unprecedented in its scale: EUR54 billion is being invested so
that our businesses, our schools, our universities and our research
organizations fully succeed with their transitions in these strategic sectors.
The challenge is to enable them to respond in a competitive way to the world's
future ecological and attractiveness challenges, and to showcase the future
champions of our sectors of excellence. France 2030 is defined by two
overarching objectives, which will see 50% of expenses given over to the
decarbonization of the economy, and 50% to emerging key players, those at the
forefront of innovation, without neglecting the environment (in the sense of the
"Do No Significant Harm" principle).
* France 2030 is being implemented collectively: designed and deployed in
consultation with economic, academic, local and European key players to
establish strategic guidelines and decisive action. Project holders are invited
to submit their entries via the current application process, which is a
demanding and selective one, to benefit from state support.
* France 2030 is being led by the French General Secretariat for Investment, in
charge of France 2030, on behalf of the Prime Minister, and in partnership with
the relevant government ministries. France 2030 is being implemented by the
French National Research Agency (ANR), the French Agency for Ecological
Transition (ADEME), Bpifrance and the Caisse des Dépôts et consignation (CDC).

PRESS CONTACT
Nicolas de Kerangal, Chief Financial & Partnerships Officer at BW Ideol - ir@bw-
ideol.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act