Hexicon AB has announced that it has entered into and completed a sales and purchase agreement with a leading global provider of advanced maritime and offshore engineering solutions regarding the divestment of the TwinHub project company, Wave Hub, in Cornwall, United Kingdom.
Under the agreement, Hexicon has divested its entire 100 percent stake in the project, including associated assets and liabilities, for a total consideration of only £1.00 ($1.35).
Hexicon acquired Wave Hub in 2021. The site was previously permitted for wave power, and over the past few years Hexicon has progressed significant work to re-permit and adapt the site for a floating offshore wind farm. Following a combination of significant increases in inflationary pressures and supply chain costs, Hexicon recognized an impairment on the project in December 2025, which was announced in January 2026.
