Reach Subsea has been granted up to EUR 14.3 million from the EU Innovation Fund.

22 Oct 2024 13:15 CEST

Haugesund, 22 October 2024: Reach Subsea has been granted funding of up to EUR
14.3 million from the EU Innovation Fund under the Net Zero Technologies
initiative.

"This is a significant step forward for Reach Subsea’s innovation agenda, our
Reach Remote scale up plans and our commitment to driving sustainable ocean
technology. We are excited to contribute to a cleaner, more efficient future,"
says CEO, Jostein Alendal.

The funding will support the scale-up of the Reach Remote project, which focuses
on developing advanced remote unmanned surface vessels for efficient and
sustainable operations in ocean-based industries.

The EU Innovation Fund is one of the world’s largest funding mechanisms for
advancing zero-emission and innovative technologies. It aims to bring
decarbonization solutions to the market, supporting the transition to climate
neutrality while enhancing competitiveness.


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For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no


About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients
in need of ocean data and services. Services are offered out of our head office
in Haugesund as well as from our subsidiaries and branches located across
Norway, US, UK, Cyprus, Singapore, Trinidad Brazil and Australia. The Group’s
objective is to be a preferred partner and full-service provider of ocean
services for clients, focusing on safety, environment, financial solidity and
profitability. Our vision “Sustainable access to ocean space” underpins our
commitment to the development of sustainable solutions, with stakeholder groups
key interests in focus.


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Jorunn Håvardsholm,
Communications and Marketing Director at Reach Subsea AS on the time and date
provided.

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