German Federal State of Mecklenburg-Vorpommern confirms grant of 5 million Euros for fabrication, installation and testing of GICON's SOF floating offshore wind foundation

Financing for Germany's first floating wind turbine is now confirmed ---- Fabrication of full-scale pilot plant to start July 1st, 2014 ---- Extensive technical testing and environmental monitoring planned in the German Baltic Sea

Dresden / Rostock, Germany, April 29th, 2014

The GICON Group will receive a pro-rata funding of 5.25 million Euros from Mecklenburg-
Vorpommern's Ministry of Economy, Construction and Tourism for their floating offshore foundation,
the GICON® SOF. The official notification of the funding confirmation secures fabrication, construction
and testing of the first floating wind turbine in Germany. In total 18 million Euros are invested.

‘For nearly 2 years, the GICON Group has, at its own risk and with a significant proportion of own resources, pursued the goal to build a full-scale pilot of the GICON® SOF and deploy it in the German
Baltic Sea. On behalf of all team members and partners involved in the SOF development, I want to
thank the State of Mecklenburg-Vorpommern for the constructive cooperation. As a result of the funding
commitment and the secured financing, we can now fully focus on the challenges ahead.' said
GICON's Owner and Managing Director, Prof. Jochen Grossmann. ‘Our objectives are to promote scientific
and technological progress and to provide an opportunity for growth in this region,‘ Harry
Glawe, Minister for Economy, Construction and Tourism added.

The fabrication of the 1:1 pilot plant will start on July 1st, 2014 at the Volkswerft shipyard in Stralsund,
Germany. Thanks to weight- and cost-optimized planning, a material reduction of around 50% can be
achieved, compared to earlier design versions. Deployment for extensive functional and technical
testing as well as environmental monitoring is planned for mid-2015 near the existing offshore wind
park Baltic I in the German Baltic Sea.

The GICON® SOF for wind turbines is an outstanding innovation and a tremendous new opportunity
for offshore wind farms. It offers a variety of advantages over conventional offshore foundations such
as the possibility to exploit offshore wind resources in areas with 20 meter to 500 meter water depths.
Such conditions are found in Europe, North America as well as in Asia Pacific. Compared to conventional
bottom mounted foundations, the GICON® SOF, including the mounted turbine, can be towed
to and installed on site without the need for additional installation vessels. This allows a much more
cost-effective construction and weather-independent deployment. The stability of the foundation and
thus the mechanical demands on the turbine are similar to those of conventional offshore wind foundations.

The GICON Group is a privately-owned engineering company with 300 employees and 150 contract
associates, providing engineering services to domestic as well as international clients. The company
has seen year-on-year revenue growth, achieving 31.4 Million Euro in 2013. Profits are consistently
invested in ongoing research and development to provide the innovations which ensures stability and
growth of the GICON Group.

Additional information (contains videos of the GICON® SOF tank tests)

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