Hexicon Raises EUR 2.7M to Boost Floating Platform Development

Hexicon AB have secured new funds for the development of their floating offshore wind platform by receiving SEK 25 million (approx. € 2.7 million) through an oversubscribed issue of new shares.

The share issue amounted to SEK 20 million (approx. € 2.2 million), and the company’s Board has decided to execute an over-subscription option that amounted to a further SEK 5 million (approx. € 537,494).

All available shares have been allocated to existing shareholders and new investors. Index Equity Sweden AB has subscribed for approximately 35% of the total number of issued shares, and will thus hold about 10% of the total number of outstanding shares in Hexicon, thus becoming the second largest shareholder in Hexicon after the new shares have been registered. The largest shareholder is the Swedish pension fund Gamla Livförsäkringsaktiebolaget SEB Trygg Liv.

Hexicon said this will enable a faster and more powerful implementation of their floating platforms for offshore wind power, which allow the wind farms to be established at great water depths.

“This share issue will enable us to intensify our project at Dounreay in northern Scotland where our first platform will be built and seize additional business opportunities in this rapidly growing global market,” said Henrik Baltscheffsky, CEO of Hexicon.