14.12.2023 08:48:11 CET | Nekkar ASA | Non-regulatory press releases

14 December 2023 - A project consortium headed by Nekkar ASA, and including
Kongsberg Maritime, DOF, an undisclosed global wind farm developer and several
leading research institutions, has conditionally been awarded a research and
innovation grant of NOK 75.2 million, in total, through the Norwegian
government's Green Platform Initiative.

The consortium, which also includes GCE Node, NORCE, Sustainable Energy Catapult
Center, Sintef Ocean and University of Agder, aims to develop a safe and
efficient solution for main component replacement (MCR) on offshore wind
turbines - thereby realizing significant reductions in time, cost and loss of
revenue due to downtime.

The project will develop a remote-controlled, self-hoisting lifting equipment,
based on Nekkar's SkyWalker wind turbine installation tool, that moves up and
down the turbine tower to replace the main components like gearbox, blade, etc.
while on-site offshore.

Also, a 3D motion-compensated crane will be developed with the purpose of
lifting SkyWalker from a floating vessel to a floating turbine. Further,
specifications of a multi-purpose vessel integrating the requirements of
SkyWalker and 3D crane will be developed. The project will also evaluate the
impact of the solution from a total wind farm perspective using and developing
existing tools for offshore logistics, vessel design, and marine operations. 

The objective is to develop a main component replacement solution that can be
utilised offshore on both floating and fixed-bottom wind turbine generators
across OEMs, both for newbuilds as well as the installed base.

The project is contingent approval of capital contributions from each project
partner to activate the NOK 75.2 million funding from the Green Platform
Initiative. The project partners expect to conclude this process during the
first quarter of 2024, at which point further information about the project and
funding will be shared.

The Green Platform Initiative provides funding for enterprises and research
institutes engaged in green growth and restructuring driven by research and
innovation. The Norwegian government uses the Green Platform Initiative to
stimulate bigger and more rapid investments from companies in green sustainable
solutions and products. The objective is to trigger opportunities for green
value creation through major projects. The projects should comprise the whole
value chain from research and knowledge production to testing, commercialisation
and industrialisation of sustainable, green products and services.

DISCLOSURE REGULATION

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

CONTACTS

 * Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com 

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy, renewables and
aquaculture.