Hexicon Cashes in EUR 1.23 Mln

Hexicon Ltd has successfully completed a rights issue of 11.4 MSEK (EUR 1.23 million) to secure the development of Hexicon’s innovation for offshore wind at deep waters.

The rights issue allows a faster and more robust implementation of the new strategy to develop floating platforms for offshore wind energy, and demonstrate its innovation by building a Swedish reference plant. The rights issue is for totally 11.4 MSEK. After the issue Hexicon has 96 shareholders including two institutional investors; Gamla SEB Trygg Liv and MGA Holding.

Hexicon designs floating platforms for offshore wind energy. Hexicon’s platforms are based on scale of economy and profitable energy production. This allows wind turbines to be set up in areas where winds are stronger and more stable. Wind energy parks can be built out of sight and in areas where the environmental impact is minimal.

“This rights issue will enable us to intensify our design work and the formation of a Swedish consortium that will build our first platform,” says Henrik Baltscheffsky, CEO of Hexicon.