Acwa Field Services Acquires EthosEnergy's Steam Turbine Business in Poland, Establishing Its First European Maintenance Presence

• First EU acquisition: Acwa Field Services acquires EthosEnergy's steam turbine and repair services operation in Wrocław, Poland
• 85 employees, specialist assets, contracts, IP and contracted backlog transfer to Acwa Field Services
• Poland Marks the start of a deliberate growth strategy to expand a globally integrated field services business

RIYADH, Saudi Arabia, Aug. 10, 2026 /PRNewswire/ --  Acwa Field Services, the field maintenance and technical services subsidiary of Saudi-listed Acwa (Tadawul: 2082), today announced the acquisition of the steam turbine services entity of EthosEnergy Sp. z.o.o. in Wrocław, Poland. The transaction transfers EthosEnergy's steam turbine field services, including its 85 employees, specialist assets, established contracts, intellectual property and contracted service backlog, to Acwa Field Services, which will operate the business as Acwa Field Services Poland.

The acquisition marks Acwa Field Services' first move into the European Union, and the opening step in a deliberate growth strategy. The deal will see Acwa Field Services acquire an established steam turbine services business with a skilled workforce, specialist equipment and a live contract base already operating in the market. The move deepens the subsidiary's steam turbine field services capability, adds specialized engineering and technical expertise, and widens its execution footprint across Europe.

Matthew York, President of Acwa Operations, said: "Acwa Field Services is central to how we protect and extend the value of the assets we operate, while enhancing our competitiveness. This acquisition is a clear statement of intent. Owning a specialist maintenance capability, rather than contracting it out, gives us greater control over performance, cost, and reliability across our fleet. Acquiring EthosEnergy's steam turbine business in Poland gives us the team, the technical depth, and the customer relationships to build a strong European service business, and it does so from day one. I welcome our new colleagues in Wrocław to Acwa."

EthosEnergy's Wrocław operation complements Acwa Field Services' existing offering and strengthens the platform on which the subsidiary intends to grow a portfolio of transactional and contractual work in Europe and beyond.

Ana Amicarella, Chief Executive Officer of EthosEnergy, said: "As we continue reshaping EthosEnergy, this transaction supports our strategy to simplify our portfolio and strengthen our focus on core operations. The Steam Turbine Business in Wroclaw is joining an organization that aligns closely with its expertise and long-term growth ambitions. We are confident that, as part of Acwa, the business will continue delivering the exceptional service, technical excellence, and customer support for clients across the Oil & Gas, Power Generation, and Industrial Manufacturing sectors."

Acwa Field Services Poland will operate as an integral part of the Acwa global group of companies, extending the subsidiary's reach into the wider power generation industry, including independent power producers, government utilities and the oil and gas sector. Acwa's current portfolio spans 111 assets across 16 countries, representing SAR 468.9 billion (USD 125 billion) of assets under management, a foundation few private developers anywhere can match.

About Acwa

Acwa (TADAWUL: 2082) is a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in the global energy transition. Registered and established in 2004 in Riyadh, Saudi Arabia, Acwa employs over 4,000 people and is currently present in 16 countries in the Middle East, Africa, Central Asia, and Southeast Asia. As of July 2026, Acwa's portfolio comprises 111 assets in operation, advanced development, or under construction, representing SAR 468.9 billion / USD 125 billion of assets under management and the capacity to generate 98 GW of power (of which 52.3 GW is renewables) and manage 9.7 million m³/day of desalinated water. The energy and water capacity generated by Acwa's assets is delivered on a bulk basis to address the needs of state utilities and industries on long-term, off-taker contracts under utility services outsourcing and public-private partnership models.

Learn more: www.acwapower.com

About EthosEnergy

EthosEnergy turns on potential to deliver services and solutions globally for rotating equipment to make energy affordable, available, and sustainable. Tailoring solutions for the power, oil & gas, industrial markets, so customers can achieve more. Operating in over 100 countries, EthosEnergy consistently improves performance across the value chain.

For more information visit https://ethosenergy.com/