Hexicon has bagged SEK25m in a new share issue which the company will use to finance the development of its floating offshore wind platform.
The Swedish outfit said the share placement was over subscribed with Index Equity Sweden extending its holdings to become the second largest shareholder on 10%.
Hexicon said the cash will be used to expand its work on semi-submersible offshore turbine platforms.
It is developing the technology on its proposed Dounreay Trì floating wind demonstration project off the north coast of Scotland.
The technology aims to facilitate greater offshore wind farm deployment in deeper waters, the company said.
Hexicon chief executive Henrik Baltscheffsky said: “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.”
Image: Hexicon
Hexicon ropes floater cash
Dounreay Trì floating wind demo off Scotland to benefit from investment
By EBS