Aker — M&A Activity 2021

Jun 10, 2021

Aker ASA: Signs Agreement to Acquire Prototech AS

Aker ASA: Signs Agreement to Acquire Prototech AS

Aker ASA announced today that Aker Capital (collectively referred to as "Aker")

has acquired the Norwegian technology and research and development (R&D) company

Prototech AS ("Prototech"). The acquisition provides access to a portfolio of

industrial technology solutions and R&D capabilities that underpin Aker's

strategic development in the energy transition.

"Prototech has an impressive portfolio of technologies and expertise that need

both capital and active ownership to realize their full potential," said Øyvind

Eriksen, President and CEO at Aker. "Aker has been developing knowledge-based

industry for 180 years. There is no shortage of exciting ideas, research, and

technology developments happening all over Norway. Identifying and developing

interesting companies and investment opportunities is an essential part of the

work to drive Aker's value creation over time. Prototech has R&D capabilities

and solutions that we believe can play an important role in Aker's long-term

development."

Prototech, established in 1988, was originally part of the Mechanical Section of

the Christian Michelsen Institute (CMI) in Bergen, and is based on an

engineering and technology tradition dating back to 1930 when CMI was

established as a non-profit R&D institute. Over the last 30 years, Prototech has

developed into a R&D and technology company with expertise and a broad portfolio

within space applications, new energy systems, and technologies for the offshore

and maritime sectors.

"Prototech has a long and proud history developing technology for Space and

Ocean Space. Our energy solutions are maturing and can potentially make a real

difference in the zero-carbon economy. To succeed we need industrial ownership

to accelerate our development and provide capital for growth. Aker is the

perfect owner for Prototech going forward, and we are very happy to become part

of the family," said Bernt Skeie, CEO at Prototech.

Aker has acquired 100 percent of the company from NORCE, one of Norway's largest

independent research institutes owned by several leading Norwegian universities,

for an undisclosed amount. As part of the transaction, a new Board of Directors

will be constituted, which will include Prototech's current employee-elected

Directors.

-ENDS-

For more information, please contact:

Christina Glenn, Head of Corporate Communications and Investor Relations, Aker

ASA

+47 905 32 774

christina.glenn@akerasa.com

Bernt Skeie, CEO, Prototech AS

+47 950 46 031

bernt.skeie@prototech.no

About Prototech:

Prototech AS is a Norwegian provider of technology development, engineering,

product design and manufacturing services covering a broad spectrum of areas

including space applications, new energy systems, offshore technology as well as

industrial products. The major applications areas are technology for space,

offshore, subsea, and maritime sector. Prototech is supplying its customers in

these sectors with designs, calculations, prototypes, and custom-made hardware

for operation in demanding environments, from the depths of the ocean floor to

the International Space Station (ISS) and beyond. The company has about 50

employees and is based in Bergen, Norway.

For further information please visit www.prototech.no