Shanghai skyline
18. December 2020

ELOP sets up presence in East Asia

In order to prepare entry into East Asian markets, including China, Elop AS (Elop) has entered into a cooperation agreement with Norient Advisors Limited, headquartered in Shanghai, China.

The cooperation agreement with Norient Advisors is designed to prepare market entry in East Asia due to the interest and potential in the region. While entering into the near home market for Elop, the partnership with Norient Advisors is part of a long-term plan to expand to the highly attractive East Asia region.

“Entering into a cooperation agreement with an established local partner is an efficient route to promote and build awareness of ELOP and our unique technology in the East Asian market. China, with its almost incomprehensibly large infrastructure footprint and construction industry, will be a highly relevant market for ELOP’s technologies ,” says Kjersti Kanne, CEO of Elop.

Norient Advisors has a successful track-record of helping Scandinavian companies succeed with business development activities in East Asia in general and China specifically.

Under the agreement, Norient Advisors will support Elop with early stage positioning of ELOP’s technologies and services towards public sector, industrial companies and asset owners, and identification of strategic partners. The Chinese government has recently announced an ambition for China to become carbon neutral by 2060.

The concrete industry accounts for 8 percent of the world’s CO2 emissions, and the challenges ELOP’ technology solves will help reduce the concrete industry’s negative environmental impact.

“We are delighted to work with ELOP in East Asia and confident that this cooperation will enable access to key strategic market players while safeguarding ELOP´s best interests. Innovative technology solutions, increased building safety and reduced environmental footprint are key segments in the region´s development. Elop is an exciting company with unique products that certainly will attract the interest of East Asian business partners,” says Ulrik H. Karlsen, CEO of Norient Advisors.

For further information, please contact:

Media

Kjersti Kanne, CEO of ELOP AS, tel: +47 480 31 075

Investors

Øivind Horpestad, chairman of ELOP AS, tel: +47 910 00 626
Torbjørn Blom-Hagen, CFO of ELOP AS, tel: +47 926 48 847

About ELOP

ELOP AS is a Norwegian tech company established in 2013. ELOP has developed and patented an ultrasound technology for inspection and analysis of critical infrastructure. The company develops and commercialise tools and digital solutions to inspect, monitor and manage infrastructure worldwide. ELOP’s vision is to provide asset owners with smart solutions that improve safety, extend asset lifetime, minimise total lifecycle cost and environmental footprint. ELOP is located in Oslo and in Hamar, Norway.

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