Exel Composites signs contract with FLYING WHALES for delivery of pull-wound composite tubes for the world's largest airship

EXEL COMPOSITES PLC   INVESTOR NEWS   14 FEBRUARY 2025 AT 10:00 EET

Exel Composites, a global leader in pultruded and pull-wound composite solutions, has signed a significant contract with French-Canadian airship manufacturer and operator, FLYING WHALES. Exel Composites will supply around 75 kilometers of pull-wound carbon fiber tubes for the first full structure of an LCA60T airship, the world's largest airship designed to revolutionize cargo transport. In 2024, Exel and FLYING WHALES announced an R&D partnership for the development and prototyping of the tubes, and this order marks the next step in the companies’ collaboration. The parties have decided not to disclose the value of the contract.

The tubes will be made with aeronautical carbon fiber and epoxy resin, manufactured with advanced pull-winding technology at Exel's Joensuu factory in Finland. This continuous process enables the demanding mechanical specifications while ensuring timely high-quality serial production.

Under the terms of the agreement, Exel Composites will undergo a rigorous qualification process to ensure the carbon fiber tubes meet the stringent requirements for aeronautical applications. Delivery of the tubes is expected to start by Q3 2025.

"We are thrilled regarding our partnership with FLYING WHALES on this exciting project and to apply our development and pull-winding technology to such an innovative application. This collaboration with a world leader on large capacity airship, not only showcases our advanced R&D and manufacturing capabilities but also highlights our dedication to meeting the stringent demands of the aerospace industry. We look forward to seeing the LCA60T airship transform cargo transportation,” says Paul Sohlberg, President and CEO of Exel Composites.

"Working with Exel Composites has been a great journey. Their expertise in pull-winding technology and their ability to meet our rigorous specifications have been crucial in bringing the LCA60T airship to life. This airship represents a significant leap forward in developing sustainable cargo transport, and we are excited to see the positive impact it will have on improving logistics in remote areas. By leveraging strong and light-weight composite materials, we are committed to creating an airship with minimal environmental impact,” says Vincent Guibout, CEO of FLYING WHALES.

The LCA60T, a 200-meter-long vertical take-off and landing (VTOL) airship, utilizes helium lifting technology to transport up to sixty tons of cargo. With a focus on sustainability, it combines eco-design and lifecycle efficiency to minimize environmental impact, reducing CO2 emissions. This airship will function as an airborne crane, significantly reducing reliance on traditional land and air transport methods, and alleviating bottlenecks at shipping ports.
 

Additional Information:
Lilli Riikonen, Head of Investor Relations
[email protected]
tel. +358 50 351 1128

About Exel Composites

Exel Composites is one of the largest manufacturers of composite profiles and tubes made with pultrusion and pull-winding technologies and a pultrusion technology forerunner in the global composite market. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications in diverse industrial sectors such as wind power, transportation and building and infrastructure.

Our R&D expertise, collaborative approach and global footprint set us apart from our competition. Our composite solutions help customers save resources, reduce products’ weight, improve performance and energy efficiency, and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally.

Headquartered in Finland, Exel Composites employs over 600 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.

For more information about FLYING WHALES, please visit: https://fr.flying-whales.com/