Nekkar strengthens business offering with smart, electric lifting and handling solutions

23 Mar 2023 08:00 CET

23.3.2023 08:00:00 CET | Nekkar ASA | Non-regulatory press releases

23 March 2023 - Nekkar ASA (Nekkar) strengthens its presence within renewables
and aquaculture through the acquisition of Techano Group (Techano) based in
Kristiansand, Norway.

The add-on business will combine Nekkar's unique in-house automation,
electrification, and software competence, with personnel from Techano who are
specialists in load handling and lifting equipment for the renewable,
aquaculture, offshore and marine industries.

"By combining strong industry competence from an established business with our
impact technology we will strengthen our offering in the industry verticals that
Nekkar is targeting, especially the renewables and aquaculture industries.
Together, we will develop smart, electric lifting and handling solutions that
are fully automated and digitized, capable of challenging the incumbent
solutions in the market," says Ole Falk Hansen, CEO of Nekkar.

COMPLEMENTARY SPECIALIST TEAMS

The nine person strong engineering team from Techano has extensive industry
experience with product delivery and project execution within the renewables,
aquaculture and marine industries.

"It is important to underline that we are not adding on a new R&D venture. It is
a natural extension and strengthening of our product offering within renewables
and aquaculture. Nekkar's heritage is from advanced motion compensated load
handling and lifting equipment, while the Techano crew brings proven delivery
and project execution capabilities from the industries that Nekkar's impact
technologies aim to disrupt. The combination is a good match on for the next
phase of Nekkar's development within these verticals," adds Ole Falk Hansen.

The Techano team's specialist competence includes the development and
manufacturing of advanced load handling and lifting equipment, including cranes,
winches, fish crowding systems, fish transfer systems, and offshore wind load
handling cranes. The team has built up a particularly strong market position
within offshore fish farming and in the offshore wind space.

"Our capabilities and expertise are highly complementary with Nekkar's team and
their future positioning through impact technologies. In addition to
complementary competence, we have an overlapping customer base. Hence, joining
forces with Nekkar, is in our view, a perfect match to strengthen Nekkar's
presence within the renewables and aquaculture industries," says Nils Stray,
spokesperson for the Techano team that joins Nekkar.

The complete team will be located at Nekkar's headquarter in Kristiansand,
Norway.

Nekkar acquires Techano Group for an undisclosed immaterial amount.

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.

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