1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. Hexicon AB (publ)
  6. News
  7. Summary
    HEXI   SE0004898799

HEXICON AB (PUBL)

(HEXI)
  Report
Delayed Nasdaq Stockholm  -  06:53 2022-08-18 am EDT
2.030 SEK   -3.33%
08/16Invitation to Hexicon's presentation of the interim report for January-June 2022 on 18 August 2022
AQ
08/10Hexicon JV Files Applications for Five-Site Development in Italy
MT
08/10Strong development for Hexicon in Italy - concession applications filed for several floating wind farms
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Killybegs Fishermen's Organisation and Sinbad Marine Services Signs A Memorandum of Understanding with Hexicon AB

06/26/2022 | 10:45am EDT

The Killybegs Fishermen's Organisation (KFO) and Sinbad Marine Services have signed a Memorandum of Understanding with Hexicon AB. The innovative and historic partnership is predicated on a `new approach' which sees local fishermen engaged and influencing the development process from the onset. Key decisions, including site selection, cable routing, and land fall, will be collectively analysed and agreed. Similarly, other stakeholders, including environmental organizations will also be given input at an early stage in shaping the location and design of the floating wind farms. In parallel, long-established port operator and marine service provider, Sinbad Marine, will ensure the floating offshore wind project maximises its engagement with local industry and leverages local infrastructure. Floating wind energy is experiencing exponential growth globally and Irish waters are exceptionally well-suited for the emerging technology which will likely eventually rival or even replace fixed bottom offshore wind as the leading offshore wind technology. The global expansion of offshore wind farms is however often a concern for fishing communities and cause for conflict. In that context and in order to avoid potential controversy, the KFO, Sinbad Marine Services and Hexicon are joining forces to create a `new approach' for the development of floating wind projects. This is the first time in offshore wind that key players from several fundamentally- opposed sectors have come together to collaborate on a project with a common objective. The focus of the Memorandum of Understanding is for the parties involved to cooperate and agree solutions which are mutually beneficial for the development of a wind farm which does not negatively impact the fishing industry nor the marine environment while contributing to the transformation of local and global energy supply chains. The Global Wind Energy Council has highlighted Ireland as one of the top five emerging markets for offshore wind, with some of the world's best wind resources with wind speeds over 10 metres per second (m/s). Along with the vast continental shelf, Ireland also has a large sea area with perfect bathymetry for floating wind. These are just some of the reasons why Ireland is attracting offshore wind developers from all over the world. In parallel, the fishing industry in Ireland represents an important economic sector, generating national income and providing employment for thousands of people. Successfully combining these two worlds will put coexistence at the centre of future offshore wind development in Ireland and elsewhere. The proposed new floating wind farm is to be located more than 50km off the Donegal coast and has the potential to deliver up to 2 gigawatts (GW) of energy. It could also position Killybegs as a leading service hub for the fledgling offshore wind industry as well as helping establish energy independence for the fishing industry and wider region. The proposed project is the brainchild of the Killybegs Fishermen's Organisation and Sinbad Marine Services which have signed a Memorandum of Understanding with Swedish floating offshore developers and technology providers, Hexicon AB. A Phase two Marine Area Consent (MAC) will be applied for under the new Marine Area Planning Act. The Maritime Area Regulatory Authority (MARA) which is soon to be established, will manage permitting of all offshore projects by issuing a MAC to all qualifying projects. Award of a MAC in turn, allows the developer to make an application for planning permission to An Bord Pleanála. It is intended to use part of the energy generated to produce green fuels such as hydrogen or ammonia which in turn could be used to power the fishing fleet whilst also contributing to energy security for the port and local community. This pioneering initiative will require some 6,400 tonnes of hydrogen annually. Contingent on adequate grid reinforcement being provided, the remainder of the energy will be connected to the national grid and contribute to Ireland's stated target of 5GW from offshore energy by 2030. Ireland has the potential to generate at least 30 GW of offshore wind.


© S&P Capital IQ 2022
All news about HEXICON AB (PUBL)
08/16Invitation to Hexicon's presentation of the interim report for January-June 2022 on 18 ..
AQ
08/10Hexicon JV Files Applications for Five-Site Development in Italy
MT
08/10Strong development for Hexicon in Italy - concession applications filed for several flo..
AQ
08/03Hexicon increases its ownership in significant floating wind project in South Korea
AQ
08/03HEXICON AB (OM : HEXI) acquired an additional 10.2% stake in MunmuBaram Co Ltd. from Hexic..
CI
07/07Hexicon Soars 21% on UK Contract for Floating Offshore Wind Project
MT
07/07Hexicon wins UK's first ever CfD auction for floating offshore wind
AQ
07/06Hexicon Korea signs sale and purchase agreement for major floating wind project in Sout..
AQ
06/26Fishing industry and Hexicon unveil historic collaboration
AQ
06/26Killybegs Fishermen's Organisation and Sinbad Marine Services Signs A Memorandum of Und..
CI
More news
Financials
Sales 2022 68,9 M 6,62 M 6,62 M
Net income 2022 -42,7 M -4,11 M -4,11 M
Net cash 2022 114 M 11,0 M 11,0 M
P/E ratio 2022 -17,9x
Yield 2022 -
Capitalization 764 M 73,4 M 73,4 M
EV / Sales 2022 9,43x
EV / Sales 2023 6,28x
Nbr of Employees 33
Free-Float 63,1%
Chart HEXICON AB (PUBL)
Duration : Period :
Hexicon AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 2,10
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Marcus Thor Chief Executive Officer
Anneli Nortima Chief Financial Officer
Hans-Jürgen Kai von Uthmann Chairman
Niklas Hummel Chief Technology Officer
Mats Olof Jansson Independent Director