Ovako employee awarded prize for steel that reduces environmental impact

Ovako's head of research and development, Patrik Ölund, has been awarded the coveted Kami Prize. He wins the award for his contribution to the development of Ovako’s IQ-Steel®, a unique steel that can withstand high loading in all directions, leading to reduced environmental impact and lower CO2 emissions.

The Kami Prize will be awarded on Saturday morning during a ceremony at the annual Hindersmässan in Örebro, Sweden.

“I am of course very pleased to have been awarded the Kami Prize, but also for the attention now being received by IQ-Steel and its positive qualities,” says Patrik Ölund, Head of Research and Development at Ovako.

Patrik Ölund is receiving the prize for his contribution to the development of Ovako’s IQ-Steel, which is a highly clean steel.

IQ-Steel is used in applications such as diesel injection in cars, trucks and ships. Thanks to the steel's unique characteristics, it has been possible to reduce diesel consumption by approximately 1 litre/100 km. In terms of only the cars where Ovako’s IQ-Steel is used, it is possible to calculate that CO2 emissions have been reduced by 80 million tonnes in total over the last 10 years (the whole of Sweden emits approximately 50 million tonnes/year).

IQ-Steel is also used for ball bearings that are fitted in offshore wind turbines. Since the stresses are large and repairs are expensive at sea these require a steel that, like IQ-Steel, can withstand high loading in all directions.

Development projects for IQ-Steel are also ongoing in areas such as gears, hydraulics and rock drills to ascertain how resources can be saved here too.

“We congratulate Patrik Ölund on his prestigious award and on the success he has achieved together with his research team. Ovako is a research-intensive company that develops and produces steel in close collaboration with our key customers. IQ-Steel is the result of one such collaboration,” says Tom Erixon, President and CEO of Ovako.

Ovako’s IQ-Steel is unique in the market. Other companies have been able to achieve similar properties in their steel only through additional re-melting. This means that Ovako has an advantage since re-melting means greater environmental impact and higher production costs.

About IQ-Steel:

• The name IQ-Steel stands for Isotropic Quality, and means that the steel can withstand high loading in all directions, called fatigue loading. Steel is normally always weaker in one direction.
• With Ovako’s IQ-Steel, fatigue strength increases by approximately 40 percent compared with ordinary steel.
• Since IQ-Steel has such high fatigue strength it is estimated that steel weight can be reduced by 20 percent, which in itself is an environmental advantage.
• IQ-Steel is used in applications such as diesel fuel injection in engines. Thanks to the steel's unique characteristics, it has contributed to reducing diesel consumption by 1 litre/100 km. In terms of only the cars where Ovako’s IQ-Steel is used, it is possible to calculate that CO2 emissions have been reduced by 80 million tonnes in total over the last 10 years.
• One speciality is also steel for ball bearings that are fitted in offshore wind turbines. Since the stresses are large and repairs are expensive at sea a steel that, like IQ-Steel, can withstand high loading in all directions is required.
• Development projects for IQ-Steel are also ongoing in areas such as gears, hydraulics and rock drills to ascertain how resources can be saved here too.
• Other companies have been able to achieve similar properties in their steel only through additional re-melting. This means that Ovako has an advantage since re-melting means greater environmental impact and higher production costs.

For further information, please visit http://www.ovako.com/Products/IQ-Steel---isotropic-quality-steel/

About the Kami Prize:

• Once a year, the Kami Research Foundation distributes the Kami Prize of SEK 1 million, provided there is a qualified recipient.
• The prize is given as a reward to a distinguished scientist, the research of whom has become the basis to a commercially successful technical development within the Swedish steel and metal industry.
• The purpose of the prize is to honour individuals who have made important breakthroughs within the trade. The purpose is also to focus attention on the institutes, companies and colleagues involved in the research and development.
• The award ceremony takes place at Hindersmässan in Örebro during the meeting of Bergshandteringens Vänner on the last Saturday in January. The first award ceremony was held in 2011.
• The prize was planned in collaboration between the Swedish Steel Producers’ Association (Jernkontoret) and the Kami Research Foundation.

For further information, please contact:
Viktoria Karsberg, Head of Group Communications, +46 70 209 93 96
Patrik Ölund, Head of Research and Development, +46 70 646 94 80

Press image is available at http://www.ovako.com/Media/Press-images/

Ovako is a leading European producer of engineering steel for customers in the bearing, transportation and engineering industries. Our production covers low-alloy steels and carbon steels in the form of bars, tubes, rings and pre-components. The company has production plants in 11 locations and several sales companies in Europe and the USA. Net sales in 2011 were EUR 1,121 million and the number of employees was 3,239. Total steel production capacity is 1.3 million tonnes per year. www.ovako.com

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