Enersize Oyj enters project agreement with SKF

This is a translation in English of previously released news. Enersize Oyj (”Enersize”) hereby announces that the company has entered an agreement with Aktiebolaget SKF (“SKF”) concerning a licensing agreement of the software Enersize Q+ Advanced. The contract duration is 36 months and the order value during the contract duration amounts to approx. 100 KSEK. The agreement is the first of its kind and is based on Enersize’s new business model and product portfolio.

Enersize Q+ Advanced is a proprietary and patent-pending IoT software available as a SaaS (Software as a Service). The software is used for data collection and analysis of centrally controlled compressed air systems. Furthermore, the system is used for identifying potential energy savings and monitoring leakage repairs. Through Enersize Q+ Advanced, Enersize can create energy efficiency improvements of approximately 10–50% in industrial compressed air systems.

Enersize and SKF have now entered into a license agreement for Enersize Q+ Advanced. The agreement has been entered by utilizing the customer contacts that the company acquired through LEAQS. SKF will use Enersize Q+ Advanced for data collection and analysis in order to be able to more effectively investigate and improve the performance of the compressed air system at the factory in Gothenburg. SKF has expressed interest in using the advanced and patent-pending simulation functions that are built into Q+ to study and compare different combinations of compressors to optimize energy consumption. The agreement extends over 36 months and installation of the system will take place as soon as possible. After the agreement has been concluded, Enersize and SKF will conduct discussions on further cooperation and/or extension of existing agreements.

SKF is a Swedish industrial group with global manufacturing and sales of bearings, seals, motion technologies and lubrication systems. SKF has 104 factories in 24 countries, of which about 10 are located in Sweden.

"This order is special because the deal has been established thanks to a long-term customer relationship with the team behind LEAQS which we acquired last autumn, but the agreement is a license agreement with Q+ that has been developed by Enersize. It feels very exciting to sign an agreement with another successful Swedish industrial company and it’s especially fun that it is with SKF who themselves are skilled at measuring and monitoring technologies. A successfully completed installation will show the benefits of our system and we hope that it will eventually lead to installations in further factories. Of course, it is not possible to promise anything, but it fits in very well with our product portfolio, which gives the opportunity to centrally monitor and follow up the compressed air systems also in factories that are geographically separated, which is unique for Enersize Q+ systems”, comments Anders Sjögren, CEO of Enersize.

Certified Advisor 

Sedermera Fondkommission

Telephone: +46(0)40-615 14 10

E-mail: ca@sedermera.se

For more information about Enersize, please contact: 

Anders Sjögren, CEO

Telephone: +46(0)730-763530

E-mail: anders.sjogren@enersize.com

Brief information about Enersize 

With its proprietary patent-pending automated software for leakage management, data collection and analysis, Enersize can provide 10-50% energy savings in industrial compressed air systems. Through the recently acquired LEAQS system, the company has access to more than 9000 leakage management projects, and the associated more than 4000 customers worldwide. The combination of the company’s software services can increase the customer’s savings in running projects, while generating direct license and project revenue. 90% of the manufacturing industry uses compressed air, which constitutes about 5% of the world's total electricity consumption. Among Enersize's existing customers are one of the world's largest manufacturers of flat screens and well-known car manufacturers and steel mills. The company is headquartered in Helsinki, have a sales office in Gothenburg and a development office in Lund. The company is listed on Nasdaq Stockholm First North under the ticker: ENERS. www.enersize.com