1 December 2023 - Wellboat company North Salmon Service has chosen HAV Group's
ship design business as cooperation partner to develop an ammonia-fuelled
wellboat. 

North Salmon Service and HAV Group's ship design business have together applied
for and been awarded financial support from Enova to conduct a six-month
preliminary project to develop the wellboat. 

"Zero emission vessels are the future for all ocean-based industries. We look
forward to collaborating with North Salmon Service to realise their exiting
wellboat plans and pave the way for zero emission shipping in the fish farming
industry," says Gunnar Larsen, CEO of HAV Group.

The vessel will be equipped with a dual-fuel engine capable of sailing with
ammonia as fuel. The intention is also that the vessel will be outfitted with
the most advanced equipment available in order to reduce fuel consumption and
CO2 emissions. 

HAV Group will design the vessel and optimize it technologically to carry out
wellboat operations and at the same time ensure maximum utilization of green
fuels. To achieve this, North Salmon Service and HAV Group will contribute with
their respective specialist competence within operating profiles for ships and
operational know-how for wellboats.

"As wellboat operator we have a strong desire to contribute towards limiting our
climate and environmental footprint associated with production of salmon. That
is why we want to assess the possibility of developing a wellboat that through
use of ammonia as ship fuel could have zero emission potential," says Arnt
Erling Paulsen, managing director of wellboat company North Salmon Service.

North Salmon Service and HAV Group's ship design business will together identify
technologies and subcontractors that can contribute toward the long-term target
of building an ammonia-fuelled wellboat. Its sister company HAV Hydrogen could
be a potential cooperation partner for the preliminary project. 

HAV Group's subsidiary HAV Design AS is North Salmon Service's cooperation
partner for the project.
 
(ENDS)

For further 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.