Vallianz Holdings Limited has joined forces with Ulstein Design & Solutions B.V., Shift Clean Energy ("Shift") and Bureau Veritas to collaborate on the design and construction of a heavy transport vessel ("HTV") that will be the first of its kind in the global offshore wind industry. Designed for worldwide operations, the HTV will be deployed for transportation of structures such as monopiles, jackets, transition pieces and turbine blades to support offshore wind farm projects, as well as heavy structure modules for LNG and carry out floatover operations of offshore structures. Featuring zero emission capability, the DP-2 vessel will be the first of its kind, as it will be driven by a hybrid power system consisting of alternative dual fuelled engines and a fully-classed battery energy storage system.

In addition, the HTV features the proven ULSTEIN X-BOW®, which contributes to reduced energy consumption and provides more comfortable and safer operations when sailing through waves. Measuring an overall length of 173.6 meters, the customised ULSTEIN HX120 design will have a free deck length of 145 meters. With her large deck area of more than 6,000 square meters and deck strength of 25 tonnes per square meter, the new HTV can carry cargoes of up to 32,000 metric tonnes.

This includes very large structures and modules, such as monopiles, transition pieces and jacket foundations. The design of the HTV is developed by the Dutch design office of Ulstein Group which is headquartered in Norway. The HTV's electric battery system is to be provided by Canadian-based Shift, while the vessel will be classed by Bureau Veritas.

Construction is expected to take up to 26 months with planned completion by the end of 2024, and is not expected to have any material impact on the net tangible assets or earnings per share of the Group for the current financial year ending 31 March 2023. To mark the collaboration, representatives from Vallianz, Ulstein, Shift and Bureau Veritas attended a signing ceremony held at Ulstein's office in Rotterdam, the Netherlands.