ELOP AS: Aiming for listing on Oslo Stock Exchange in July, valued at NOK 420 million

Pressemelding

Oslo, 7. juli 2020

Norskutviklet betongscanner vil sikre global infrastruktur – høy fokus på miljø og sikkerhet

Elop sikter mot børsnotering i juli, prises til 420 millioner kroner

Tech-selskapet Elop hentet nylig inn 100 millioner kroner i en emisjon tilrettelagt av Pareto og Arctic. Investorenes interesse var enorm forteller selskapet, både teknologi og den positive påvirkning våre løsninger kan ha på miljø, sikkerhet og økonomi ga solid interesse. Nå varsler de notering på Oslo Børs Merkur Market i løpet av juli.

Globale ambisjoner
Elop har globale ambisjoner og er allerede i forkant av produktlanseringen som skjer mot slutten av året. Selskapet er i samtaler med flere internasjonale aktører om samarbeid, leveranser og avtaler. Gjennom de senere år har vi vært vitne til flere bro- og bygningskollapser i en rekke land som har gitt økt fokus på aldrende infrastruktur og feil og mangler i nyere konstruksjoner. I dag finnes det ikke effektive måter å oppdage dette på før det er kommet så langt at skadene er synlige eller har ført til svekkelser, og med betydelige kostnader ved en reparasjon. Elop har utviklet en løsning de mener kan bidra til å løse disse utfordringene.

– Vår patenterte løsning gir informasjon og innsikt i en konstruksjon der data raskt forteller om tilstand og eventuelle behov for utbedringer. Sikring av kritisk infrastruktur vil tjene samfunnet både ut fra et miljø- og sikkerhetsperspektiv, det er også enorme økonomisk besparelser å hente her. I et globalt perspektiv har eiere av infrastrukturer daglig utfordringer med å kontrollere tilstanden på sine konstruksjoner. Vår teknologi representerer helt nye muligheter for innsyn og vedlikehold, og adresserer en global utfordring knyttet til sikkerhet og miljø, forteller administrerende direktør i Elop, Kjersti Kanne.


Overtegnet emisjon – stor tro på Elops teknologi i investormiljøet
Det var svært stor interesse blant investorer før emisjonen og trolig kunne man hentet inn det dobbelte. Flere kjente institusjonelle investorer fra både Tyskland, UK, Sverige og Norge var på listen over tegnere. Basert på emisjonskurs er Elop nå priset til i overkant av 420 millioner kroner før notering. Fra før har blant annet Arne Blystad, Ketil Skorstad, Kristian Lundkvist og Lars Nilsen investert i Elops innovative løsning for scanning av betong.

Elop har søkt Oslo Børs om å bli notert på Merkur Market. Med forbehold om nødvendige godkjenninger fra Oslo Børs, vil aksjene kunne noteres i løpet av juli 2020.

– Det vi hentet inn gjennom emisjonen skal benyttes til å bygge organisasjonen og sette opp våre første produksjonslinjer i forkant av lansering mot slutten av året. Det var svært gledelig å registrere flere erfarne og tunge navn som ønsker å bli med oss allerede nå. Langsiktige tyske, svenske og engelske fond kommer nå inn på eiersiden i tillegg til de norske som meldte seg på i denne runden. Det er svært motiverende for oss at disse deler vår tro på teknologien og ser et globalt behov for vår løsning, sier arbeidende styreformann i Elop, Øivind Horpestad.

Miljøvennlig og banebrytende teknologi
– Elop er et teknologiselskap med høy fokus på ESG (Environmental, Social and Governance faktorer). Ved å benytte vår teknologi og software vil man forlenge levetiden på- og sikre og trygge konstruksjonene. Det betyr store samfunns økonomiske besparelser. Eksempelvis kommer åtte prosent av verdens CO2-utslipp fra betongindustrien. Ved å identifisere skader innvendig i konstruksjoner tidlig og utbedre disse før skaden får utvikle seg, kan utslippene reduseres betydelig. Riktig vedlikehold og tidlige utbedringer kan forlenge en konstruksjons levetid med hele 50 prosent og ta ned totale kostnader med inntil 30 prosent, påpeker Horpestad.

Elop ble etablert av et forskermiljø på Hamar i 2013 der idéen var en rullende ultralydenhet som på en enkel og effektiv måte kunne «se inn i» og gi innsikt i tilstand på bruer, tunneler og andre typer betongkonstruksjoner. Underveis har selskapet lykkes med å utvikle og patentere løsningen, med god hjelp av ulike tilskuddsordninger.

Den banebrytende teknologien videreutvikles til å inkludere innovative applikasjoner og programvare som skal sette eiere i stand til å foreta mer nøyaktige inspeksjoner, optimalisere ressursforvaltning og strukturell overvåking av betongkonstruksjoner. Data vil bli systematisert slik at de ansvarlige for konstruksjonen enkelt og effektiv kan se inn i konstruksjonene for å opprettholde sikkerhet, og ikke minst store miljømessige og økonomiske besparelser.

Elop har tidligere mottatt utviklingsmidler fra EU-programmet Horizon 2020, Norges forskningsråd, Innovasjon Norge og Regionalt forskningsfond innlandet.

Elop har kontor i Oslo med egen forsknings- og utviklingsavdeling på Hamar.

For ytterligere informasjon,
Styreleder Øivind Horpestad, 910 00 626
Administrerende direktør Kjersti Kanne, 480 31 075.

 


Our team is growing!

Our team is growing! We are so happy to welcome Per Arne Haug as our Director for Business Development & Sales.

Per Arne joins Elop after recently working for Rapp Bomek as head of sales, marketing and services. He is an experienced sales and business leader, with more than 25 years from the Norwegian and international civil, offshore and maritime industry. Per Arne has held various senior and executive management positions in companies such as Kongsberg Maritime Engineering, Wood Group and Roxar. He has a master degree in Mechanical Engineering from University of Minnesota with a thesis on composite materials.

Per Arne will be based on our Oslo-office. His capabilities are a great addition to our team and we are excited to have Per Arne on board!


Patent application granted in the United States

Patent application granted in the United States

Kjersti Kanne and Werner Bjerke.

Greetings from our office in Hamar

In these demanding corona times, it is important to take care of each other and also share the good news. It is extremely nice to report that the patent application for our ultrasound scanner has been granted in the United States. The United States represents one of the largest markets for Elop. An important milestone for us and a big thank you to the inventors and the rest of the team at Hamar.


Hard meeting with concrete scanner

Hard meeting with concrete scanner

Erik Langaker (left) has thrown himself over a new investment. He joins with NOK 20 million in ELOP, where Kjersti Kanne is CEO and Øivind Horpestad is chairman of the board. PHOTO: ANDREAS KLEMSDAL

Erik Langaker has thrown himself over the growth company Elop. He takes a seat in the board and buys shares for NOK 20 million.

Elop will revolutionise the market for concrete inspection. Their concrete scanner is the first in the world to use ultrasound to create 3D images, using a machine that rolls over the concrete.

You can read the full article (Only in Norwegian) (.PDF) published in Finansavisen on Monday 27 January 2020 here:


Elop agreement with one of the world largest inspection companies

Press release

Oslo, January 9, 2020

Elop agreement with one of the world largest inspection companies

The Hamar-based technology company Elop AS and Dekra Industrial AB part of Dekra Group, one of the world’s largest inspection companies with more than 45 000 employees in 60 countries, have entered into an agreement for the testing, marketing, and commercial use of Elop’s technology in combination with DEKRA’s services for inspection of concrete constructions.

The first rolling ultrasonic scanner

The two players together have a broad knowledge of ultrasound and inspection technologies and will bring new technology and solutions to assist owners of critical infrastructure such as bridges and buildings. The agreement gives Elop valuable access to specialist competence and market experience from one of the largest testing, inspection and certification companies in the world.

Concrete is the worlds most common building material, and the industry is responsible for over 8% of the global CO2 emissions. With timely corrective maintenance, the lifetime of concrete construction may be increased by 20-30 years. Elops technology will enable a more efficient and precise methodology to detect weaknesses and allow for optimised repairs and maintenance prior to a structure reaching critical condition.

“This is a very important milestone for us at Elop. The technology we have developed here in Hamar will provide substantial benefits for society including reduction in CO2 emissions, improved safety, and prolonged lifetime for concrete constructions around the world”, says Chairman Øivind Horpestad.

DEKRA and Elop will work together to pilot the services related to Elop’s technology. DEKRA’s expertise and long-standing experience with critical infrastructure are important in targeting the technology and services toward the market demand.

For the first time, owner of critical infrastructure will have access to a new and improved method for uncovering and documenting concrete quality and properties such as strength, density and thickness. In addition, it will be possible to locate cracks, air pockets, delamination, technical pipes and similar over larger areas.

“A deeper understanding of the actual state of for example a bridge, will radically improve investment planning and help asset owners manage maintenance costs more optimally. DEKRA may be the first to use this in its day-to-day work, and we are very proud that our technology will now be available in the market”, says Elop CEO Kjersti Kanne.

Elop’s ultrasound scanner will be trialled on DEKRA projects in the Nordic countries in the coming months. Thereafter, the two parties are planning an international launch.

At Elop, they are now expanding the organization both locally in Hamar and Oslo to build the capabilities necessary to support their international ambitions.

“We plan to grow from today’s 12 employees to almost 50 employees in 2020” says Kjersti Kanne.

CEO, Stefan Törngren of DEKRA says “The collaboration will provide us with new and effective methods for mapping and inspecting concrete structures. We are committed to being a leader in technology and delivering the best possible service to our customers. The technology Elop delivers could become an important instrument for us in the future”.

Commercialisation requires a thorough test of the areas that are important to the industry. The knowledge both players now acquire will contribute to any adjustments to the product before the planned market launch. Both parties have the same ambitious outlook and look forward with excitement and anticipation to the opportunities.


Elop AS is a Norwegian technology company specialising in providing ultrasonic equipment for non-destructive inspection and testing (NDI / NDT) of concrete structures. The international team of highly qualified staff has over the last 5 years developed and designed a handheld rolling ultrasonic scanner for inspection and mapping of concrete construction.

Cobri is a rolling ultrasonic scanner with dry connection to the substrate that maps structure and defects such as cracks, air pockets, delaminations, and technical pipes inside concrete structures. Ultrasound technology enables the user to determine depth and placement of elements and defects in concrete that are not visible on the surface through a real-time visualisation of the structure. Technology is revolutionising the way NDT inspections are
performed.

Elop has received funding for the development of its technology from the prestigious EU program Horizon 2020, the Research Council of Norway, Innovation Norway and the Regional Research Fund inland. The company is headquartered in Oslo and has its research and development department in Hamar.

The company currently has 12 employees under the leadership of CEO Kjersti Kanne, Øivind Horpestad is the Chairman of the Board. Further information can be found at www.elop.no

DEKRA is one of the leading suppliers of industrial inspection in Europe. The company is part of the DEKRA group based in Germany. DEKRA is an independent third-party technical inspection organization that tests, inspects and certifies installations, products and systems in the infrastructure industry.

DEKRA provides full service for inspections of buildings, plants, machinery and infrastructure, including material testing and inspection and advanced NDT testing.

DEKRA Industrial AB is accredited by the Swedish authority SWEDAC. DEKRA Group is also accredited in many different technical fields and is active in more than 60 countries.


Kjersti Kanne

Kjersti Kanne as new CEO at ELOP

Elop has appointed Kjersti Kanne as its new CEO

Elop, a tech company within the NDT and inspection industry, has appointed Kjersti Kanne as its new CEO. Kjersti succeeds the founder Terje Melandsø who will continue as a member of the board and advisor to the organisation.

Kjersti Kanne

Kjersti Kanne, CEO

The company has developed a unique and patented rolling ultrasound scanner, which enables a survey of concrete constructions. Elop was established in 2013 on the basis that their expertise and capabilities could solve customer challenges where no solution or answer existed. The technology reveals structure and defects in concrete. It offers quick insights to help customers make the right decisions to ensure safe and sustainable operations - from a commercial, social and environmental perspective. 

The original idea has been productised through several years of research and development efforts. “There is a huge demand for effective concrete inspection solutions. Optimised maintenance and extension of life of service instead of demolishing and rebuilding brings significant savings and minimises environmental impacts. Elop has developed a fantastic product. The company has been committed to finding the right person to increase momentum now that the concrete scanner being launched globally. Kjersti Kanne’s operational and industrial experience, developed over the course of a global career, is an excellent mix for our next CEO. I'm looking forward to working closely with her and her leadership team to build upon the current strategy to drive Elop to the company’s full potential,” chairman Øivind Horpestad says.

Kanne brings to Elop extensive leadership experience and a proven track record of technology and business development, scaling of global engineering and technology organisations, and transformational growth. She has more than 25 years of experience from companies such as ABB, GE and Baker Hughes.

 

She says, “I am proud and excited to join Elop. Our company has amazingly talented and passionate employees, intellectual property and innovative solutions that are unsurpassed and with huge potential, and we have audacious goals. I strongly believe we are well-positioned to provide value-adding solutions to customers and stakeholders and contribute to a sustainable future. I am honored and look forward to leading this company through this exciting next phase of growth.”


Øivind Horpestad

A new adventure in progress

There are not many entrepreneurs in Norway who have walked the same distance as Øivind Horpestad. He and other well-known investors such as Arne Blystad, Ketil Skorstad and Kristian Lundkvist have a new adventure in progress.

Øivind Horpestad

PHOTO: ANDREAS KLEMSDAL (finansavisen.no)

Elop is the name and company that has developed technology that makes it possible to "read" concrete using a rolling ultrasound scanner.

Their advanced technology reveals quick and risk-free access to structures, buildings, bridges, installations and structures. Collected data reveals the concrete structure and shows real-time 3D imaging for increased actionable insight. By uncovering the structure, details, faults and defects of the structure, you can significantly extend the life of the structure.

Our chairman of the board, Øivind Horpestad, talks about Elop and how they can grow to handle the market in the best possible way. The article has been published in one of the leading financial newspaperz in Norway, Finansavisen (written in Norwegian - Subscription only)


The first rolling ultrasonic scanner

The first rolling ultrasound scanner

The first rolling ultrasonic scanner

Our excellent team has developed the first rolling ultrasound scanner (NDT) for concrete inspection. Here we collect high-quality data that reveals a real-time 3D image of the structure to make inspection and maintenance much more manageable.