Naples, December 10, 2024 – Next Geosolutions Europe S.p.A., a leading international company in the field of marine geosciences and offshore construction support services, mainly in the energy sector, with a focus on renewable energies (‘NextGeo’ or the ‘Company’), listed on the Euronext Growth Milan market, following the growth strategies communicated during the listing phase, announces the expansion of its offshore fleet with the purchase of the vessel “Sea Admiral”, IMO No. 9581150 from the Norwegian company Beitveit Holding A.S.

Renamed “NG EXPLORER”, the vessel will be used for geophysical, geotechnical, environmental and UXO surveys.

The NG EXPLORER represents another strategic asset for NextGeo and a further enhancement of its service offering in the marine geosciences sector. In fact, thanks to this new vessel, with its high degree of operational flexibility, the company will be able to execute projects already included in its ever-growing order book and generate new business opportunities in a rapidly expanding sector.

Giovanni Ranieri, CEO of NextGeo, commented: “In light of the company’s growth, the acquisition of this new vessel asset represents an important opportunity for the Group and is part of our growth plans to expand our owned fleet with vessels carrying out specific activities pertaining to the NextGeo Group. The transaction is part of the growth and development strategy we declared during the IPO and allows us to expand our service offering in the market. With this acquisition, we bring the number of owned offshore vessels to four, including the already announced acquisition of the vessel ‘Deep Helder’, which will be finalised in January 2025, maintaining a healthy balance between our own and chartered fleet, confirming our asset-light business model.”

The NG EXPLORER, with a length of 58 metres and a width of 14 metres, is a Multi Purpose Survey Vessel (MPSV) built in 2010, equipped with a Dynamic Positioning Class II (DP2) system and diesel-electric propulsion that will raise the Italian flag and be operational from the first quarter of 2025.

The purchase price of the “NG EXPLORER” amounts to €6,750,000.00, financed by own resources. The ship will undergo refitting work, with an additional investment estimated at between €3 and €5 million, in order to make it even more efficient and functional for the high-tech activities for which it is destined.