Integrated Wind Solutions AS aims to be a leading offshore wind service player
by integrating service operation vessels with engineering, product and manpower
services in a windfarm's installation, commissioning and operations phase. 

As part of delivering on the Company's strategy, we are pleased to announce the
acquisition of 75% of Procon Group A/S (ProCon). ProCon is a Danish engineering,
construction and service solution provider specialized in electrical and
technical solutions to the global renewable industry with a focus on offshore
and onshore wind as well as solar power.  

"Today's announcement is the first steppingstone towards our ambition to become
the leading provider of integrated service solutions in the offshore wind
sector. We are impressed with ProCon's journey so far and look forward to
partnering with ProCon's founder to enhancing its future success. The
acquisition of ProCon will in effect be our first investment under the IWS
Services division portfolio, and it is the perfect opportunity to further
accelerate our growth plans as service solution providers to our offshore wind
clients", said Lars-Henrik Røren, CEO of Integrated Wind Solutions AS.

Headquartered in Aalborg, Denmark, ProCon has global ambitions with activities
in Belgium, Germany, Poland, Taiwan, United Kingdom and USA. In 2020, ProCon had
a turnover of about DKK 84 million. Future growth is expected to be in line with
the industry, estimated to be more than 20% per year. By contributing with DKK
60 million in cash injection, Integrated Wind Solutions acquires 75% of ProCon.
The company founder, Claus Søgaard Poulsen, retains 25% ownership and will
continue as CEO of ProCon. The transaction is expected to close within July
2021.

"We are immensely proud to have delivered specialist solutions regarding design,
engineering, pre-assembly, installation, commissioning, service, inspection,
maintenance and retro-fit to more than 1.500 offshore wind foundations, more
than 850 wind turbines and substations, with more than 500,000 hours offshore
working hours on the clock. Our services are perfectly complementary to
Integrated Wind Solutions' ambitions. Their investment is a recognition of
ProCon's strong market position and allows both companies to further expand our
offerings and boost our global market ambitions using ProCon as the platform",
said Claus S. Poulsen, CEO of ProCon Group A/S. 

For more information, please contact:
Lars-Henrik Røren, CEO
Phone: +47 98 22 85 06
Email: lhr@integratedwind.com 

About Integrated Wind Solutions
Integrated Wind Solutions AS (ticker code: IWS) offers a fleet of
state-of-the-art service vessels to the offshore wind industry combined with a
suite of adhering services, to reduce levelized cost of energy (LCOE) for
offshore wind. The Company has two UT5519DE Design Wind Farm Support Vessels
under construction with delivery in 2023 and options for up to four further
sister vessels. Integrated Wind Solutions is headquartered in Oslo, Norway. For
more information, see company website: integratedwind.com.

About ProCon Group
ProCon Group is an international ISO9001, ISO14001, ISO45001 and UN SDG
certified company that specializes in providing high-quality electrical and
technical solutions to the global renewable industry through its two business
units: ProCon Wind Energy and ProCon Technic. Procon Group is headquartered in
Aalborg, Denmark. For more information, see company website: proconas.dk.