WindSim AS (Norway) - Nov 2007

Sarsia Seed has acquired a minority post in WindSim AS, a Norwegian provider of software for windfarm design, for NOK 4m. The financial injection will be used to fuel the business’ organisation in order to better respond to market demand and to develop further product features. The investor was attracted to the deal due to WindSim’s position in the market, its management and belief in the wind power sector. The capital injection will enable the company to continue to develop its technology and grow in the market. Sarsia Seed plans to provide further funding in order for the business to reach its potential.

Company

WindSim is a software provider for simulation of wind resources in complex terrain based on computational fluid dynamics (CFD). Users employ the software to optimise park layouts, maximising energy output, avoiding turbulent areas and minimising visual and noise impact on surrounding areas. WindSim is also used to calculate loads on turbines due to wind shear. Customers include majority of Norway’s turbine factories such as Enercon, Gamsea, Siemens and Vestas. The business is based in Tønsberg and was founded in 1993.

People

Sarsia Seed partner Jon Trygve Berg, led the transaction and joins the board of directors. Svein Therkelsen is the chairman of the board. Arve Gravdahl is the CEO of the company.

Advisers

Equity - Thommessen, Eirik Raanes (Legal)

Sourced from: Nordic unquote" 69 (Jan 2008)

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