Cadeler has raised 846 million NOK (635 million DKK) in a share issue for the company by issuing 26,175,532 shares at 32.32 NOK. The capital raising was oversubscribed and attracted great interest, especially from Nordic and international institutional investors, the company said in a press release.
- We are very pleased to have received capital that will enable us to further deliver on our strategic priorities, expand our offering to the market and support our growth, says Mikkel Gleerup, CEO of Cadeler.
There is a clear goal with the money, which will be used to finance a new vessel for setting up large-scale foundations, a so-called F-class vessel, at a price of 343-346 million USD (2.4 billion DKK). The ship is scheduled to be delivered before the end of 2025. Cadeler is also aiming to secure an option on another F-class ship.
The new ship will expand the company's services that it can offer to the market. Thus, after the purchase of the new ship, Cadeler will be able to deliver total solutions within the transport and installation of offshore wind farms.
- Due to our close cooperation with the industry's leading players, we are very positive about the possibilities of obtaining projects for the new F-class ship. There is a high demand for the installation of foundations in the rapidly growing offshore market. Cadeler has strong expertise in the field with more than 500 installed foundations since 2013, and it is a natural step for our company to invest in a ship for handling large-scale foundations, says Mikkel Gleerup.
Gives competitive advantage
Cadeler already has two new so-called X-class ships entering the fleet, both of which are expected to be delivered no later than 2025. The new F-class ship, however, has a significant advantage, as it has a hybrid design that makes it possible to convert the ship to install offshore wind turbines in a short time. It will also be able to transport up to six XL monopiles weighing 2,300-2,600 tons each on each trip. This provides significantly greater efficiency in operations.
- The new F-class hybrid vessel gives us a unique competitive advantage. The ship is significantly more efficient in operation, and at the same time we will be able to provide services within the installation of foundations to our customers, says Mikkel Gleerup
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