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hexicon Increased portfolio potential The expansion continues During the period revenue increased sooner than expected and an important joint venture was formed in Sweden . All projects moved forward , lowering the portfolio risk level . The expansion continued and after the period new seabed rights were secured in South Korea , significantly increasing the portfolio potential . Hexicon also received an important intention from the European Patent Office to grant Hexicon a European patent for its unique twin turbine design . July - September Net revenue amounted to 4.4 ( 0.5 ) MSEK . Operating profit / loss amounted to -11.3 ( -4.0 ) MSEK . Profit / loss before tax for the period amounted to -11.3 ( -4.0 ) MSEK . Earnings per share basic and diluted amounted to -0.03 ( -0.02 ) SEK . Cash flow from operating activities amounted to -42.3 ( -4.0 ) MSEK . Cash at the end of the period amounted to 320.9 ( 1.4 ) MSEK . MunmuBaram , the JV between CoensHexicon and Shell , completed wind measurements , geotechnical surveys and applied for its first electricity generation license in South Korea . Hexicon and Aker Offshore Wind formed a 50-50 JV and concluded site consultations in Sweden . January 1- September 30 , 2021 Interim report The TwinWay demonstrator project completed the first engineering phase and received feasibility certification from DNV GL . January - September Net revenue amounted to 17.0 ( 3.6 ) MSEK . Operating profit / loss amounted to -34.8 ( -11.3 ) MSEK . Profit / loss before tax for the period amounted to -33.6 ( -11.8 ) MSEK . Earnings per share basic and diluted amounted to -0.11 ( -0.07 ) SEK . Cash flow from operating activities amounted to -41.4 ( -6.9 ) MSEK . Key events after July - September Korean JV , CoensHexicon , with regional partners , secured additional seabed rights in South Korea with a gross potential of more than 1 GW . Korean JV with Shell , MunmuBaram , applied for two additional electricity generation licenses in South Korea . The European Patent Office issued its formal intention to grant Hexicon a European patent for its dual - turbine technology . Hexicon partnered with global contractor Worley for the fabrication of the TwinWay demonstrator project in Norway . Hexicon is a developer of floating wind farms and owns a patented dual turbine foundation technology , the TwinWind . Hexicon's solution increases the power density for a given water area , reducing the cost of energy and minimizing its footprint . Hexicon currently runs projects in England , Norway , Scotland , South Korea and Sweden and pursues early - stage development opportunities in additional countries . Hexicon AB ( publ ) , Tegelbacken 4A , 111 52 , Stockholm , Sweden www.hexicon.eu info@hexicon.eu