Enersize Advanced Research AB (“Enersize” or the "Company”) announces that the Company has entered into a cooperation agreement with Momentum Industrial AB (“Momentum”). The agreement is a clear step towards expanded collaboration and includes Enersize's entire product portfolio "Compressed Air Services".
Until the autumn of 2020, Momentum has only used Enersize's services in leak detection and repair through the Q+LEAQS software service. The collaboration model between Momentum and Enersize, whose origins are in the 2018 business acquisition, has been complex both in terms of execution and follow-up.
Momentum has recently, as reported in "Momentum presents successful pilot project together with Enersize", developed a groundbreaking service called Leakage Reduction which uses two modules in Enersizes Compressed Air Services, Q+AUDIT and Q+LEAQS, and which is based on profit sharing with the customer. So far, Leakage Reduction has been used in pilot projects by Momentum in close collaboration with Enersize. The work has turned out well and Momentum and Enersize want to expand the collaboration.
The agreement now entered into between the companies includes the entire Enersizes Compressed Air Services and the agreement runs from 1 April 2021 and throughout the year. Momentum can now, in addition to Leakage Reduction, offer customers permanent measurement and monitoring with Q+MONI and Q+ZONE. This creates opportunities for many different types of energy efficiency improvements; reduce leakage levels permanently, fix design errors and predictive maintenance. Momentum and Enersize will evaluate the outcome of the deals during the year with the aim of improving and extending the cooperation agreement.
With this agreement, Enersize has two partnerships according to the Company's new business model. In Sweden, the partner is Momentum Industrial AB and in Morocco SCOPP Solutions. These agreements mean that Enersize can continue to focus its operations on further development of the software and build a revenue stream based on recurring revenue via partners in the form of subscriptions to Compressed Air Services. In China, negotiations are underway to expand the collaboration in line with Enersize's new business model.
“Momentum is an ideal partner for Enersize and we will do our utmost to ensure that Momentum succeeds in its business. We carry out training for Momentum's technicians and support Momentum's work in general, but we also have a strategic collaboration that aims at together taking advantage of the fantastic business opportunity that exists within energy optimization of industrial compressed air ", says Anders Sjögren, CEO of Enersize