HAV Group ASA: Subsidiary to support superyacht

10 Mar 2023 07:30 CET

10 March 2023 – HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES)
has been awarded a contract to provide equipment deliveries and system
integration services in connection with the upgrade of an undisclosed
superyacht.

The 59-meter expedition superyacht will undergo an extensive upgrade to meet
today’s demands for comfort, environmental performance, safety, and operating
performance. As part of this refurbishment, the vessel’s engine and propulsion
system will be upgraded with the latest technology.

NES, a total system supplier and system integrator of hybrid and electric
propulsion systems, navigation, and automation systems, will, under the
contract, deliver permanent magnet motors, two motors for main propulsion and
one motor for the bow thruster. NES will also supply AC switchboards, frequency
drive propulsion converters, thruster controls and ADF filters. NES will also
prepare the vessel for the future installation of an energy storage system. NES
has not disclosed the value of the contract.

NES will deliver the equipment to the undisclosed customer’s chosen shipyard
during 2023 and support with commissioning in late 2023 or early 2024.

“The global yacht fleet consists of close to 10,000 vessels. Many of those are
equipped with engine and propulsion systems from previous generations. Modern
technologies benefit from being highly flexible, which allows shipowners to
cost-effectively upgrade vessels to today’s environmental and fuel consumption
standards and the financial benefits this brings. NES expects to play a growing
role in the yacht upgrade market in the coming years,” says Oddvar Sandtorv,
sales manager at NES.

NES will manage the project from its headquarters in Bergen, Norway.

"We continue to navigate the aftermath of the pandemic. Therefore, the timing of
this contract is ideal, as it provides valuable activity for us in the current
year and going forward. This contract is an excellent opportunity to leverage
our extensive experience and cutting-edge technological solutions to serve new
clients," says Managing Director Siv Remøy-Vangen.

NES is a subsidiary of HAV Group ASA, which is listed on Euronext Growth Oslo.
In addition to its headquarter in Bergen, Norway, NES has operations in Egersund
and Ålesund in Norway, and Istanbul, Turkey.

(ENDS)
For further information, please contact:
Gunnar Larsen, CEO
gunnar.larsen@havgroup.no
+47 901 05 694

About HAV Group | www.havgroup.no
The HAV Group is an international provider of technology and services for
maritime and marine industries, listed on Euronext Growth under the ticker code
HAV. The group comprises four subsidiaries with several decades of combined
experience in the industry, in addition to special expertise in guiding the
marine and maritime industries through the green shift and towards the goal of
zero emissions.

About Norwegian Electric Systems AS
Norwegian Electric Systems is a world-leading total supplier of low and
zero-emission propulsion and control systems for a wide range of vessels for the
global marine market:

• Energy Design - knowledge about vessel operations and competence in
integrating the latest available energy sources allows us to design optimal
propulsion systems. Norwegian Electric Systems designs efficient and
environmentally friendly solutions, creating added value for the customers.

• Smart Control - new requirements and demand for more efficient and safe
operations calls for smarter vessels. Flexible software platforms and new
solutions for navigation, automation and control ensure safety through smart and
easy operation.

We are a committed partner for safe shipping, lower emissions and added value
for our customers. Our focus is to be a collaborator and a system supplier,
designing optimal propulsion systems for vessels and control systems.

NES is based in Bergen and has branches with core expertise in Ålesund and
Egersund in Norway, plus an office in Istanbul, Turkey.

To learn more about us, visit: www.norwegianelectric.com

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