General – Partnership
Integrated Wind Solutions and Sumitomo Corporation have entered into a strategic partnership agreement through IWS’ subsidiary, IWS Fleet.
IWS Fleet will raise EUR 60 million in equity by issuing new shares to Sumitomo Corporation based on a pre-money valuation of EUR 176 million. Upon completion of the transaction, Sumitomo Corporation will own 25.38% of IWS Fleet AS, with IWS continuing to own the remaining shares.
CEO, Lars-Henrik Qvernheim Røren, commented: “It has been a year since we embarked on this journey, and we are both humbled and proud to have teamed up with Sumitomo Corporation. We thank General Manager Mr. Takanaru Toyota and his dedicated team for a constructive process. We are enthusiastic about continuing to build IWS Fleet into a leading CSOV company together and exploring further expansion. IWS Fleet will be in a financially strong position following this transaction.”
The signing ceremony took place aboard our second CSOV, the IWS Windwalker.
