Awilco-backed shipowner Integrated Wind Solutions (IWS) has brought on board the financial might of Japanese trader Sumitomo Corp to expand its fleet.
The Oslo-listed wind farm vessel company said it had struck a strategic partnership agreement through its subsidiary IWS Fleet.
Vessel owner IWS Fleet will raise €60m ($65m) by issuing new shares to Sumitomo based on a pre-money valuation of €176m.
