EXEL COMPOSITES PLC | INVESTOR NEWS | 1 OCTOBER 2026 AT 9:00 AM EEST

Exel Composites and FLYING WHALES celebrate new aerospace production capability for LCA60T airship program

Global composites manufacturer and pull-winding expert Exel Composites has developed a new purpose-equipped production capability at its factory in Joensuu, Finland, to support its collaboration with FLYING WHALES, the French-Canadian aeronautical company developing the innovative LCA60T airship. The new production environment provides the process control, repeatability, and capacity required for highly demanding applications such as aerospace.

The collaboration between the companies has now moved into process validation, a key step toward producing the pull-wound composite tubes for the first LCA60T airship frame. The milestone was marked on 30 September 2026 with an opening celebration of the new production lines, attended by the CEOs and key project representatives from both companies. The LCA60T is a 200-metre-long vertical take-off airship designed to transport up to 60 tons of cargo in landlocked territories. The airship’s frame uses around 80 kilometers of pull-wound carbon fiber tubes to achieve the required combination of lightweight construction and mechanical performance.

The new production area in Joensuu offers additional manufacturing space for producing very long tubes and enhanced control of conditions such as temperature, humidity, and air cleanliness. The milestone follows early fiber, resin and lay-up testing, as well as the 2024 agreement that deepened the collaboration between Exel and FLYING WHALES. The area includes several pull-winding lines, drawing on Exel’s decades of global experience in continuous composite manufacturing. Pull-winding combines the design flexibility needed to engineer lightweight, high-strength tubes with the consistency and cost efficiency of continuous production.

During process validation, Exel will demonstrate that the pull-winding process can consistently produce the composite tubes required for the first LCA60T airship frame with the required quality and repeatability. In aerospace applications, this validation is particularly important, as it demonstrates that the equipment and process parameters used to produce each component can consistently meet the tight tolerances and quality requirements required to reach the highest safety standard.

“This milestone is an important step in preparing the LCA60T program for industrial readiness. It illustrates the strength of the industrial consortium behind the program and our shared ambition to transform what is possible in aeronautics. Exel’s advanced composite expertise, process discipline and production capability are essential as we move toward the next phases of the program,” said Vincent Guibout, CEO of FLYING WHALES. “The progress made in Joensuu reflects the commitment and close collaboration of everyone involved.”

“Moving into this next phase together with FLYING WHALES reflects the strength of our long-term partnership and the dedication of our Joensuu team,” said Paul Sohlberg, CEO & President of Exel Composites. “The new production area strengthens our manufacturing capabilities and supports the aerospace-level process control, repeatability and expertise required for demanding applications such as the LCA60T.”

Sohlberg continued: “I would like to thank the FLYING WHALES team for their close collaboration and trust throughout the project. I also want to recognize the excellent work of our teams across production, quality, application engineering and operations.”

Joensuu is Exel Composites’ hub for advanced composite tube and pull-winding expertise, supported by the company’s global factory network and R&D capabilities. The site brings together development, production, quality, application engineering and operations expertise to support demanding customer programs from validation to industrial scale production. Exel employs over 700 professionals globally and is listed on Nasdaq Helsinki.

Additional information

Lauri Haavisto, Director, Investor Relations
investor@exelcomposites.com
+358 20 754 1214

Exel Composites in brief

Exel Composites is one of the largest manufacturers of composite profiles and tubes made with pultrusion and pullwinding 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, power transmission, 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 700 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

FLYING WHALES in brief

FLYING WHALES is a French-Canadian aerospace company developing the LCA60T, a next-generation heavy-lift rigid airship capable of carrying 60 tonnes of cargo directly to locations without conventional airport infrastructure. Designed to deliver sustainable, efficient and versatile logistics solutions, the LCA60T is expected to transform cargo transportation, strategic mobility and remote-area operations worldwide. FLYING WHALES SERVICES is FLYING WHALES’ operation company of the LCA60T solution. www.flying-whales.com