Cavotec has won a multi-year shore power order worth EUR 15.7 million

Cavotec has won a shore power order valued at EUR 15.7 million from a major global shipping line. Deliveries are scheduled to start in the fourth quarter of 2022 and continue throughout 2023 and 2024. 

“This order further validates the strategy we launched a year ago to fully focus on cleantech solutions as previous niche markets are becoming mass markets and emphasises how Cavotec is a valuable partner in the decarbonisation of the global maritime sector,” says Cavotec CEO, Mikael Norin. “I’m very pleased that the investments we have made in developing cleantech solutions are now beginning to pay off. We started 2022 with a record high level of new orders and in the first quarter our order backlog grew another 26% compared to three months earlier. This order further adds to that tailwind we are feeling in the market right now,” continued Norin.

Cavotec is to supply its ship-mounted shore power systems for a series of new-build container ships. These systems connect ships to shoreside electrical power in ports, enabling dramatic reductions in emissions of carbon dioxide, nitrogen and sulphur oxides, as well as particulate matter. 

Cavotec’s innovative shore power systems play a vital role in helping ports and shipping lines reduce their environmental impact and achieve climate targets.

For further details on this release, please contact:

Johan Hähnel 
Investor Relations Manager
+46 70 605 63 34; investor@cavotec.com

The information was submitted for publication, through the agency of the contact person set out above, at 19:30 CEST on 2 May 2022.

Attachment

• Press Release 2 May 2022

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.