13 January 2025 - HAV Group's energy design and smart control business has been
contracted to deliver the power system to eight newbuild bulk carriers that
Udupi Cochin Shipyard is constructing for dry cargo shipping group Wilson. 

The scope of supply includes energy design and a complete power system. This
contains delivery of main generators, main propulsion motors, bow thruster
motor, DC switchboard, main propulsion and thruster control, and transformers.
The contract value is approximately EUR 8 million. 

The equipment deliveries will be made between the second quarter of 2026 and the
second quarter of 2028. 
At Nor-Shipping 2023, HAV Group announced a commercial initiative to provide
solutions for emission reduction in short sea transport. For this project, HAV
Group's energy design and smart control business will utilise its know-how from
energy optimisation of ferries and offshore vessel and apply it to Wilson's dry
cargo vessels. 

"This is the first time we are collaborating with Udupi Cochin Shipyard and
Wilson. This contract represents some of the expansion and growth we have been
striving for over the past two years as part of our short sea shipping
ambitions," states Siv Remøy-Vangen, managing director of HAV Group's business
for energy design and smart control systems.

Udupi Cochin Shipyard will construct the eight 6,300 dwt dry cargo vessels. The
vessels will enter the Wilson fleet transporting general cargo in European
coastal waters.
 
Wilson, headquartered in Bergen, Norway, is the leading short sea fleet operator
in Europe, transporting about 15 million tonnes of dry cargo across the
continent. The company operates a fleet of around 130 vessels, ranging from
1,500 to 8,500 dwt.

HAV Group's contract party is Norwegian Electric Systems. 

"In a newbuilding project as significant and impactful as this for Wilson, it is
great to make use of Norwegian expertise and technical knowledge through NES.
It's also a pleasure to utilize a local and competitive supplier," says Henrik
Orth, director, Wilson Ship Management.

(ENDS)

For more information, please contact:

Gunnar Larsen, CEO
gunnar.larsen@havgroup.no
+47 901 05 694

About HAV Group | www.havgroup.no 
HAV Group and its subsidiaries (together: "HAV Group") is an international
provider of technology and services for maritime and marine industries. HAV
Group has several decades of industry experience, in addition to special
expertise in guiding the marine and maritime industries through the green shift
and towards the goal of zero emissions. HAV Group ASA is listed on Euronext
Growth under the ticker code HAV.