Aker ASA: Signs Agreement to Acquire Prototech AS

10 Jun 2021 07:30 CEST

Company Name

AKER, Aker ASA 12/22 FRN, Aker ASA 18/23 FRN C, Aker ASA 19/24 FRN FLOOR C

ISIN

NO0010234552, NO0010657398, NO0010814502, NO0010868979

Market

Oslo Børs

Symbol

AKER

Aker ASA announced today that Aker Capital (collectively referred to as "Aker")
has acquired the Norwegian technology and research and development (R&D) company
Prototech AS ("Prototech"). The acquisition provides access to a portfolio of
industrial technology solutions and R&D capabilities that underpin Aker's
strategic development in the energy transition.

"Prototech has an impressive portfolio of technologies and expertise that need
both capital and active ownership to realize their full potential," said Øyvind
Eriksen, President and CEO at Aker. "Aker has been developing knowledge-based
industry for 180 years. There is no shortage of exciting ideas, research, and
technology developments happening all over Norway. Identifying and developing
interesting companies and investment opportunities is an essential part of the
work to drive Aker's value creation over time. Prototech has R&D capabilities
and solutions that we believe can play an important role in Aker's long-term
development."

Prototech, established in 1988, was originally part of the Mechanical Section of
the Christian Michelsen Institute (CMI) in Bergen, and is based on an
engineering and technology tradition dating back to 1930 when CMI was
established as a non-profit R&D institute. Over the last 30 years, Prototech has
developed into a R&D and technology company with expertise and a broad portfolio
within space applications, new energy systems, and technologies for the offshore
and maritime sectors.

"Prototech has a long and proud history developing technology for Space and
Ocean Space. Our energy solutions are maturing and can potentially make a real
difference in the zero-carbon economy. To succeed we need industrial ownership
to accelerate our development and provide capital for growth. Aker is the
perfect owner for Prototech going forward, and we are very happy to become part
of the family," said Bernt Skeie, CEO at Prototech.

Aker has acquired 100 percent of the company from NORCE, one of Norway's largest
independent research institutes owned by several leading Norwegian universities,
for an undisclosed amount. As part of the transaction, a new Board of Directors
will be constituted, which will include Prototech's current employee-elected
Directors.

-ENDS-

For more information, please contact:

Christina Glenn, Head of Corporate Communications and Investor Relations, Aker
ASA
+47 905 32 774
christina.glenn@akerasa.com


Bernt Skeie, CEO, Prototech AS
+47 950 46 031
bernt.skeie@prototech.no

About Prototech:

Prototech AS is a Norwegian provider of technology development, engineering,
product design and manufacturing services covering a broad spectrum of areas
including space applications, new energy systems, offshore technology as well as
industrial products. The major applications areas are technology for space,
offshore, subsea, and maritime sector. Prototech is supplying its customers in
these sectors with designs, calculations, prototypes, and custom-made hardware
for operation in demanding environments, from the depths of the ocean floor to
the International Space Station (ISS) and beyond. The company has about 50
employees and is based in Bergen, Norway.

For further information please visit www.prototech.no


Source

Aker ASA

Provider

Oslo Børs Newspoint