Oslo, 18 March 2021 – The offshore wind company BW Ideol has today been admitted to trading on Euronext Growth (ticker code: BWIDL).
BW Ideol has more than 10 years of experience in design, execution and development of floating wind projects.
Recently, the company raised NOK 500 million through issuing new shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 575 million. The private placement attracted strong interest from leading domestic and international investors, including several specialist renewable energy investors, announced BW Ideol.
The net proceeds from the private placement will predominantly be used to fund the development of the project pipeline, working capital requirements and for general corporate purposes.
“Our goal is to be a leading floating wind asset owner with a long-term horizon. We are an early mover in this market, and thanks to our fully proven, competitive floating technology, our unique in-house competencies, abilities to scale and a strong partnership portfolio, we are ideally positioned to win upcoming tenders in our target markets worldwide,” says Paul Dupin de la Guérivière, CEO of BW Ideol, in the listing video.
The shares in the new issue were sold at NOK 47.00 corresponding to a market capitalisation of NOK 1.46 billion.
About BW Ideol BW Ideol is a leading fully integrated platform in floating wind with more than 10 years of experience in design, execution and development of floating wind projects. The company was established to combine BW Offshore's extensive experience from developing and operating offshore energy production solutions with Ideol S.A.'s patented floating offshore wind technology, engineering capabilities and pipeline of projects, including two full scale units in operation in France and Japan.