GlobeNewswire by notified

Cavotec to accelerate focus on cleantech - will invest 20 million euro to solidify leading position in expected multibillion euro market

Share

The fast-growing market for electrification and automation of ports around the world is estimated to be worth several billion euros in the coming years. Cavotec will invest 20 million euro in technology, engineering and business development over the next five years to strengthen its leading position and to meet the expected demand. The global Cavotec team will grow by an estimated 320 people, an increase of 60%, with two thirds being engineers.   

“We’re now at an inflection point where our core markets are undergoing a drastic change where what has been niche markets for cleantech are becoming mass markets. In Europe alone, more than 2500 ports will have to drastically reduce emissions by offering Shore Power, a Cavotec specialty, to visiting ships in the next 5 – 10 years. Our automated mooring technology has an equally untapped potential with an estimated 4700 port berths world-wide suitable for automation to increase efficiency and reduce pollution. We will invest in sales, marketing, engineering and technology to fully leverage on this development and our leading market position.” says Mikael Norin, CEO of Cavotec. 

A European Union directive encourages ports to adopt shore-to-ship electrification systems (Shore Power) to reduce emissions from vessels when in port. By 2025, this recommendation will become binding for all European ports. In the American Jobs Act President Biden is planning to spend 17 billion USD on the US shipping infrastructure with a special mention of the need to mitigate the impact of pollution from ports.

Cavotec is a market leader in today’s niche markets for cleantech for ports and industrial applications. Cavotec has equipped some 600 of the world’s container ships as well as hundreds of ports around the world with its Shore Power systems. Most recently, Cavotec has developed an automated e-charging and mooring system for the world’s first zero-emission, autonomous battery powered fleet. Also, building on the company’s 40-year experience of electrification of mining equipment, Cavotec is active in CharIN, (Charging Interface Initiative), a network of companies developing global standards for charging battery powered vehicles, focusing on high power, high speed charging for commercial and industrial vehicles.

“Every day – in thousands of ports around the world – mega cargo ships moor, and then idle for hours – adding tons of pollution. And the mooring itself is a dangerous job, where employees face tremendous risks on a daily basis. Equally, the majority of the world’s mobile industrial equipment is powered by polluting diesel engines. Our mission is to change this. We will accelerate our focus on developing connection and electrification solutions to enable the decarbonization of ports and industrial applications. Just like some brands are leading the successful electrification of the automotive industry, we will lead the electrification of our markets. We are determined to contribute to a future world that is cleaner, safer and more efficient”, Norin concludes. 

The company has released a short video that summarizes the strategy that can be found at Cavotec.com under the Investor section.   

Conference call in connection with publication of the press release
Cavotec will hold a conference call today 12 May at 10:00 CEST to answer questions with regards to today´s announcement. Mikael Norin, CEO, and Glenn Withers, CFO will participate in the call. 

Conference call Dial-in numbers:
SE: +46856642704
UK: +443333009271
US: +18338230587

Weblink:
https://tv.streamfabriken.com/cavotec-q1-2021

ENDS 

For further details please contact:

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

This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:01 CEST on 12 May 2021.

About Cavotec

Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by more than 40 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide.Learn more at cavotec.com. 

Attachment

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.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release

Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a

DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release

Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68

Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release

Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.

Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release

AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us

Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin

World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye