Sway raises NOK 150 million

01. July 2009
SWAY has concluded a private placement of NOK 150 million.The placement provides the necessary financial platform for a commercialization of the company’s unique and patented deepwater wind turbine technology. Statoil and Lyse are the major participants in the equity issue. In addition, Scatec (the company of REC-founder Alf Bjørseth) and Rosenberg Verft were significant participants in the placement.

The company SWAY has, together with its main shareholder Inocean, developed a unique patented technology that enables the construction of floating wind turbines offshore. SWAY and its founder Eystein Borgen were awarded DnBNOR’s Innovation Price in 2006 for their accomplishments. The proceeds from the equity issue provide a strong platform for commercialization of the technology.

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SWAY AS /  C. Sundtsgt. 51 / 5004 Bergen / Norway / Phone: +47-55220900 / E-mail:post@sway.no