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Bawat Secures Major BaaS Contract from Yard in Denmark

Bawat Water Technologies
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Hørsholm, Denmark, October 1, 2024- Bawat Water Technologies AB (Bawat) is pleased to announce that it has secured a significant BaaS (Ballast as a Service) contract with a yard in Denmark. The order, valued at approximately SEK 5m, comes with potential for similar additional scope. The order underlines Bawat's strategic focus on the BaaS market and its growth potential.

The yard customer has engaged Bawat to ensure that ballast water from a large vessel is treated to newly implemented D2 discharge standard prior yard activity. This service will be concluded over the next few months.

Marcus P. Hummer, CEO of Bawat, sees this order as a strong indication of the growing Ballast as a Service market following the full implementation of the IMO Ballast Water Management Convention in September 2024.

"We are very pleased to see yards stepping up to the Danish and international legislation regarding ballast water and taking on the responsibility of ensuring vessel ballast water compliance during yard stay. This order represents an important step for us, and we are already in dialogue about further opportunities with additional yards," said Marcus Hummer.

With the introduction ofBawat BaaS services, Bawat is providing shipyards and port authorities with an effective solution to ensure compliance and minimize the environmental impact of non-compliant ballast water discharge. Bawat BaaS bridges the compliance gap by providing contingency and planned ballast water treatment services directly in ports and yards.

The recent enforcement of the IMO Ballast Water Management Convention, as of September 8, 2024, is expected to drive stricter regulatory controls by Port State Authorities to reduce non-compliant ballast water discharges. Bawat anticipates a substantial increase in demand for its services as yards, ports, and vessel operators seek to comply with these regulations.

"This contract is a positive contribution to our 2024 business outlook and demonstrates the increasing importance of Bawat BaaS for the industry's compliance needs," added Marcus Hummer. "We see Bawat BaaS as a solution not only for vessel owners but also for port state authorities seeking to protect the marine environments."

The 2024 latest financial guidance is maintained with sales of SEK 30-42m.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements. Words such as `believe', `expect', `may', `will', `plan', `strategy', `prospect', `foresee', `estimate', `project', `anticipate', `can', `intend', `outlook', `guidance', `target' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward-looking statements. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events which may prove incorrect.

FOR MORE INFORMATION, PLEASE CONTACT:

Investors & Media:

Marcus P. Hummer, CEO, E-mail:mph@BAWAT.com

John B. Henriksen, CFO, E-mailjbh@BAWAT.com

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Svensk Kapitalmarknadsgranskning AB

ca@skmg.se
This press release constitutes inside information that BawatWater Technologies ABis obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press releaseonOctober 1, 2024.

For further information aboutBawatWater Technologies AB, please contact above.

About Bawat

The development of an entirely new approach to ballast water treatment utilizing onboard waste heat to treat ballast water led to the founding of Bawat in 2011. A ballast water treatment system avoids disposal of untreated water in seas and harbors.

Bawat's BWMS is a system that is simple, cost-effective, and sustainable, build on a zero environmental impact, using standard marine components. No filters, no chemicals no UV. Bawat is the first to market a USCG/IMO Type Approval BWMS that uses pasteurization to treat ballast water in a one-pass process.

Bawat has built upon its innovative breakthrough and offers ballast water solutions to the maritime industry in three categories:

Bawat is an engineer-driven company that is rooted in the tradition of Danish maritime innovation and with a deep maritime insight: (http://www.bawat.com/)www.bawat.com. (http://www.bawat.com/)