Enersize Oyj receives order from Hankook in China for full-scale project after successfully completed pilot project

This is a translation of previously released news. Enersize Oyj ("Enersize") today announces that the company has agreed on a full-scale project with Hankook Tire Jiaxing Co., Ltd. ("Hankook") as a result of a successful pilot project. The agreement relates to leakage reduction using LEAQS, SaaS license, and training of Hankook's service technicians. The assignment relates to Hankook's factory in Jiaxing, where Enersize carried out the pilot project in May in a limited part of the factory. The agreement has been concluded directly between Enersize's wholly-owned Chinese subsidiary Enersize (Shanghai) Energy Technology Co., Ltd. and Hankook. The work is planned to be implemented in July 2019 and the order value amounts to approximately 0.8 MSEK.

Enersize and Hankook agreed via a local sales partner during the summer of 2018 on an installation agreement for Enersize Q + system for measuring the factory's compressed air system. In April 2019, Enersize was able to announce that a new agreement was reached directly between Hankook and Enersize’s wholly-owned Chinese subsidiaries, regarding a pilot project on leakage survey for a limited production area in one of Hankook's factories. The work was carried out by Enersize's own staff and Hankook was then responsible for repairing the leakages. The objective was to demonstrate to Hankook Enersize's expanded offering of both leakage and energy savings via the LEAQS and Enersize Q+ software and in case of a positive outcome to continue the collaboration with a new project covering the entire factory and, in the extension, even further Hankook factories.

Enersize can today announce that the pilot project carried out in early May 2019 showed a clear improvement in the energy efficiency of the compressed air system. Leakage minimization was carried out in the pilot on only about 5% of the factory's production area and, despite improvements only in this small factory part, gave clear improvements even in one of Hankook's efficiency index for the factory.

Enersize and Hankook have now agreed on a new full-scale project, regarding leakage minimization for the entire factory (approximately 200,000 sqm) and training in the LEAQS system for Hankook's maintenance staff. The order value initially amounts to approximately 0.8 MSEK.

Daniel Winkler, Sales and Marketing Manager at Enersize comments:

"This order is proof that our new sales strategy in China works and that we have a huge growth potential with LEAQS and Q + also there. We really see that there is a great need for this kind of service and expertise in China. Other Hankook factories have taken note of the results of the pilot project at the factory in Jiaxing and have already contacted us to begin discussions about streamlining their factories.”

Anders Sjögren, CEO of Enersize comments:

“It is very satisfying that the customer now chooses to move on with us after the pilot has successfully completed. It is our first major order for leakage control with LEAQS in China, and it is a large and important customer who will be able to serve as a reference for future sales work. The agreement also shows the potential for the new business model to provide greater project revenue. I especially want to highlight the good cooperation in our management team where we now have the skills required to sell and complete the projects we are starting. I am very pleased with the development with this customer and aim to continue to develop other Chinese customers in a similar way.”

About Hankook Tire Jiaxing Co., Ltd.

Hankook is the world's seventh largest vehicle tire manufacturer, headquartered in South Korea. Hankook is today one of China's largest tire manufacturers. The company has factories worldwide and factories in Jiangsun, Jiaxing and Chongqing in China. The factory in Jiaxing manufactures tens of millions of tires annually.

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