Uudenkaupungin Työvene Secures Major Vessel Deal with Sweden

Uudenkaupungin Työvene Secures New Vessel Order

Meriaura Group Plc is thrilled to announce that its subsidiary, Uudenkaupungin Työvene, has successfully signed a contract to build two cutting-edge battery-hybrid passenger vessels for the prominent Swedish shipping company, Torghatten AB. This significant order, amounting to over 20 million euros, reinforces Uudenkaupungin Työvene's stature in the maritime industry.

Details of the Vessel Initiative

The passenger vessels will operate on Sweden's west coast, facilitating travel between Strömstad and the Koster islands. Designed by the esteemed Multi Maritime AS, these vessels are set to contribute to sustainable marine transportation, emphasizing eco-friendly technologies. Uudenkaupungin Työvene's commitment to innovation positions them at the forefront of modern naval design and construction.

Expansion of Order Backlog

The company’s order backlog has surged to an impressive 200 million euros due to this new contract. Jussi Holopainen, CEO of Summa Defence, expressed excitement about the order, stating, "Our target companies possess tremendous expertise and potential, and together with Summa Defence, operations and production can be scaled up significantly." This statement reflects the company's optimistic outlook on future projects and collaborations.

Summa Defence's Growing Portfolio

Summa Defence encompasses a diverse array of companies, including Uudenkaupungin Työvene, Lännen Tractors, Aquamec, IntLog, and Lightspace Technologies. Plans are underway for a strategic merger where these companies will join forces under the umbrella of Summa Defence Group. This merger, anticipated to finalize in April, aims to enhance operational strengths and establish a robust group focused on defense and security technologies.

Merger Highlights and Future Goals

On January 29, 2025, Meriaura Group signed a conditional agreement to acquire Summa Defence Oy, which aims to consolidate their shared vision in enhancing Finland's defense strategy. The resulting entity, Summa Defence Plc, is set to harness dual-use technology, solidifying the collective goal of maintaining security and safety of supply chains.

Impact on Marine Logistics and Renewable Energy

Meriaura Group operates across two primary business areas: Marine Logistics and Renewable Energy. The Marine Logistics division, led by Meriaura Ltd, delivers reliable transport services for bulk cargo and intricate project deliveries, primarily in Northern Europe. With a focus on sustainable practices, the company utilizes a modern fleet that adheres to stringent environmental standards, thereby reducing emissions.

Innovative Renewable Energy Solutions

In addition to its logistics services, Meriaura emphasizes its commitment to renewable energy. Under Meriaura Energy Ltd, the group designs and provides comprehensive energy systems for industrial applications and district heating. Utilizing high-performance solar thermal collectors, the company leads initiatives to promote clean energy solutions, including high-quality solar power systems developed for various applications.

Market Position and Future Outlook

Meriaura Group's stock is actively traded on the Nasdaq First North Growth Market, listed under the ticker symbols MERIS and MERIH. This strategic position enables them to attract investment while committing to enhancing marine logistics and renewable energy solutions.

Connecting with Meriaura Group

For additional information about Meriaura Group and the recent vessel order, stakeholders are encouraged to reach out directly. CEO Jussi Mälkiä is available for inquiries and can be contacted via phone or email. Their emphasis on transparency ensures all parties remain informed about company developments and strategic initiatives moving forward.

Frequently Asked Questions

What is the nature of the recent contract signed by Uudenkaupungin Työvene?

The recent contract involves the construction of two battery-hybrid passenger vessels for Torghatten AB, marking a significant step in eco-friendly maritime transport.

What is the order value associated with this new vessel deal?

The total value of the contract exceeds 20 million euros, contributing to a robust order backlog for Uudenkaupungin Työvene.

Which companies are part of Summa Defence's portfolio?

Summa Defence includes companies such as Uudenkaupungin Työvene, Lännen Tractors, Aquamec, IntLog, and Lightspace Technologies, focusing on diverse defense technologies.

What significant change is anticipated from Meriaura Group’s merger with Summa Defence?

The merger aims to create Summa Defence Plc, enhancing operational capabilities in defense and ensuring a solid foundation for future growth in various sectors.

How does Meriaura Group contribute to renewable energy?

Meriaura Group focuses on designing clean energy systems, utilizing solar thermal technologies, and developing solar power systems for various applications.

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