OUR VISION
A sustainable world powered by large-scale energy production from floating offshore wind – beyond the horizon
OUR MISSION
Our mission is to accelerate the world’s energy transition by developing new markets and techniques for offshore wind.
In collaboration with our partners and local stakeholders, Hexicon initiates and develops floating offshore wind projects in deep water – beyond the horizon.
With our groundbreaking patented technology TwinWindTM and extensive floating experience, we enable offshore wind to be executed efficiently and at scale with a limited footprint.
At Hexicon, we firmly believe that floating wind power will be one of the key solutions when transforming the global energy system to a more sustainable energy mix. Therefore, our mission is to accelerate the world’s energy transition by developing new markets and techniques for offshore wind.
OUR BUSINESS MODEL
Through our dual business model, we act both as an early-stage project developer and a technology provider, offering a unique floating wind design.
Our Projects
Originating from Swedish industrial tradition, Hexicon is taking a first-mover position to develop floating wind in markets globally. We are proud to be one of few companies in the field of floating wind with more than a decade of experience. Our active projects are in different stages and spread out across the world – in areas where floating offshore wind sometimes is the only sustainable alternative.
Our Technology
Our patented TwinWind™ technology is a game-changer in the offshore wind industry with enormous international potential. The floating foundations make wind power accessible in deeper water areas where the energy potential is virtually unlimited, and turbines are unnoticeable from land. Read more about our technology.
OUR HISTORY
2009
Hexicon is founded by Percy Sundquist (former sea captain), Anders Tunbjer (Swedish shipbuilding manager) and Ocke Mannerfelt (successful industrial- and boat designer).
The trio is inspired by the world’s first floating wind power turbine demonstrated by Statoil, outside the coast of Norway the same year, still in operation.
2010
Hexicon presents its first floater design – a large floating Island with solar and wind power generation and…with its own railway.
2013
After several design attempts Hexicon presents the pioneering TwinWindTM design. The new floater design with dual turbines which allows for up to 40 % more turbines per water area compared to traditional one-turbine floaters.
2014
The Swedish government declares an investment in offshore wind power generation. This in turn leads to a collaboration with two major Swedish companies SSAB and E.ON. in which Hexicon will develop offshore wind power to contribute to their future electricity generation.
2015-2016
Hexicon works intensively with the Swedish offshore wind project and initiates a plan B trying to find alternative demonstration sites.
2015
The U.K. government starts to invest heavily in offshore wind which leads Hexicon to make a strategic decision to move into the British market searching for deep water areas.
2016
The Swedish offshore wind project is cancelled when the nuclear power phase-out is postponed.
2017
Hexicon applies for and is given a permit from the U.K. government to put a 10 MW floating offshore wind park outside the coast of Scotland (Pentland). The Swedish banking group SEB is supporting the development process with capital funding.
The funding process runs into difficulties and leaves Hexicon with a lack of 10 % equity funding which then forces the company to a financial reconstruction.
2018
Company reconstruction is completed.
Hexicon signs an agreement with Coens in South Korea for a Joint Venture and applies for a seabed area for floating wind (CoensHexicon). CoensHexicon, later Hexicon Korea, is given a permit to build a 1.2 GW floating wind park outside the South Korean coast (Munmubaram).
2019
Hexicon Korea signs a joint development agreement with Shell to develop the project Munmubaram outside the coast of South Korea.
The project is initiated and still ongoing with Shell.
2020
Hexicon signs a joint venture agreement (Freja Offshore) with the Norwegian company Aker Offshore Wind, later Mainstream Renewable Power, to develop floating wind parks outside the coasts of Sweden.
Hexicon sells 90 % of its shares in the Pentland project, in North of Scotland, to Copenhagen Infrastructure Partners.
2021
Hexicon makes an IPO on Nasdaq First North Premier Growth Market in Sweden.
Hexicon acquires WaveHub, a research project site for wave energy outside the coast of Cornwall. The acquisition prepares Hexicon for the 4th CfD auction in the UK.
Hexicon signs a joint venture agreement (AvenHexicon) with Avapa Energy Srl. in Italy to develop floating offshore wind outside the coast of Italy.
Hexicon signs a joint venture agreement with the South African developer Genesis Eco-Energy.
2022
TwinHub (formerly WaveHub) bids in the 4th CfD auction and wins a 15-year CfD (Contract for Difference) with the rate of GBP 87.3/MWh. Shortly thereafter Hexicon selects MingYang as the turbine supplier for the TwinHub project, which will be Hexicons first demonstrator project in the U.K.
AvenHexicon submits seven applications for seabed areas to the Italian government.
Two applications are approved and AvenHexicon is given precedence permits from the Italian Government to establish two offshore wind farms outside the coasts of Sicily and Sardinia.
2023
Hexicon, through its joint venture, Freja Offshore, submits three applications to the Swedish Government to build three wind farms outside the coast of Sweden.
Glennmont Capital Partners approves 45 million euro in development capital to mature Hexicons project portfolio.
From now and beyond…we are shaping our new history
