Opcon signs extensive licence agreement in China
Svenska Rotor Maskiner (SRM), the centre of excellence for compressor technology within Opcon, the energy and environmental technology Group, has signed another extensive agreement in China based on SRM’s cutting edge compressor technology. The agreement has been signed with a large Chinese refrigeration company, and covers a ten-year licence with the possibility for prolongation for Chinese production and global sales of environmentally friendly cooling units developed by SRM. The deal follows on the heels of the company’s breakthrough this past summer into the Chinese refrigeration compressor sector.
As an addition to the non-exclusive licence agreement concerning sales of completed cooling units, the agreement also covers a ten year supply from SRM of the separately developed core units that are necessary for production of the completed main cooling unit.
In addition to an initial smaller payment of a few million SEK, revenues from the agreement will be conditional on future sales of core units.
“This has every opportunity of developing into significant business for Opcon. The customer indicates yearly sales for Opcon of some 10-40 million SEK already from 2013. This is yet another important step forward in developing our strategic activity in China. Our investment here is starting to bear fruit,” 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
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.
Opcon AB (publ) is obliged to disclose the information in this press release in accordance with the Swedish law governing the securities markets and/or trading in financial instruments.
The information was submitted for publication at 08.45 (CET) on Friday 13 January 2012.