Opcon: new Chinese order worth SEK 18 million – total contracted revenues now at SEK 80 million
Energy and environmental technology Group Opcon’s Center of Excellence for compressor technology, Svenska Rotor Maskiner (SRM), has signed another development agreement with the Chinese cooling technology company that SRM began working with since the summer of 2011.
The additional agreement, which involves an expansion of the earlier collaboration, covers development of an additional modern compressor type based on SRM’s leading compressor technology. The value of the order for this development project is SEK 18 million over two years. On top of this there will be licence revenues over ten years and the option for extension, which is linked to the customer’s own future sales and which could represent considerable amounts.
With this customer alone, SRM has signed development and licensing agreements over the past year where the agreement-related revenues amount to around SEK 80 million, of which SEK 65 million covers development. Revenues could be significantly higher over time depending on the customer’s sales.
“We have had excellent collaboration in the last years that we have already seen result in new business. This has developed into a very valuable relationship for us on the strategically important Chinese market. We are now integrating the past 30 years of development in cooling compressors for future production in China where the compressors are also being adapted so that they can be optimized for energy-saving partial load operation and natural cooling agents, which provide exceptional environmental benefits,” says Rolf Hasselström, President and CEO of Opcon AB.
Svenska Rotor Maskiner AB (SRM) is a part of Opcon's Renewable Energy business area. In 2008, SRM celebrated 100 years of industrialization and development of technology for effective and resource-efficient energy usage. SRM was founded in 1908 as AB Ljungströms Ångturbin, in order to develop the double rotation steam turbine which was invented by Birger Ljungström and that was later sold to what today is the turbine manufacturer, Siemens Industrial Turbomachinery AB. For over 100 years, SRM has developed a number of products for the world market and since the 1930s has developed compressor technologies, with major licensees such as Atlas Copco, Hitachi, IR, Carrier, York, Trane, Kobelco, among others. This technological basis today forms an important part of the Renewable Energy business area's efforts in Waste Heat Recovery and production of electricity from waste heat, including Opcon Powerbox.
For further information, please contact
Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. +46 8-466 45 00,+46-70-592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. +46 8-466 45 00, fax+46 8-716 76 61
e-mail: info@Opcon.se
www.Opcon.se
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy.
Opcon has activities in Sweden, China, Germany and the UK. There are around 400 employees. The company’s shares are listed on Nasdaq OMX Stockholm. The Group comprises two business areas:
Renewable Energy focuses on the following areas: electricity generation based on waste heat, bioenergy-powered heating and CHP plants, pellets plants, drying of biomass, handling systems for biomass, sludge and natural gas, industrial cooling, flue gas condensation, treatment of flue gases and air systems for fuel cells.
Engine Efficiency focuses on energy-efficient solenoid technology and ignition systems for combustion engines including ethanol, natural gas and biogas engines.
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