Aker Kvaerner receives Technology Leadership award from Frost & Sullivan in biomass power market

22 September 2006 - The Aker Kvaerner subsidiary Kvaerner Power has been awarded the 2006 Frost & Sullivan Technology Leadership Award in the European biomass power plant market.

The award recognises Kvaerner Power’s versatile and constantly expanding technology and product portfolio, as well as its commitment to innovation. While acknowledging its overall technological excellence, the company is commended, in particular, for its leadership of fluidised bed combustion technology.

“This award is a significant tribute to us and it shows the appreciation of our technology competence in the global market. We have steadily increased our efforts in research and development to generate new intelligent solutions and, currently, we have several breakthrough innovations on the horizon. We are committed to delivering products and services that assist our customers in reaching their business goals, while ensuring environmental compliance. This respected award encourages us and inspires us to intensify our efforts,” says Lennart Ohlsson, President of Kvaerner Power.

“Through Kvaerner Power’s efficient and innovative design, its technologies fulfil the dual objectives of higher efficiency and lower emissions,” notes Frost & Sullivan Research Manager, Harald Thaler. “These fluidised bed technologies typically offer several advantages compared to traditional grate technology, including multi-fuel capability and reduced maintenance expenditures. In winning contracts for some of the biggest projects in the biomass energy sector, Kvaerner Power has underlined its reputation as the technology leader in fluidised bed combustion technology.”

ENDS

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com

AKER KVÆRNER ASA, through its subsidiaries and affiliates (“Aker Kvaerner”), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.

The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 23 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

Kvaerner Power is a forerunner in fluidized bed combustion for pulp and paper industry and power producers. Approximately 200 power boilers in operation testify to the expertise in fluidized bed technology with demanding fuels. Kvaerner Power is also the leading chemical recovery equipment supplier in the world with its 300 recovery boilers and 300 evaporation unit deliveries. Kvaerner Power has designed and manufactured the world’s largest recovery units and biomass-fired fluidized bed boilers. Kvaerner Power with main operations in Finland, Sweden, USA and Brazil has annual revenues of approximately EUR 500 million and it employs 1600 people worldwide.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com

Contact Information

Torbjørn S. Andersen

SVP Group Communications

Aker Kvaerner ASA

Contact via E-mail