Innovative engineering

Mission

Our mission is to develop patented technology and sell licenses for technological solutions. The industry has challenges posed by new environmental standards, we have verified technical answers to its needs.

We regard all our inventions as part of a greater whole. Their common denominator is a pragmatic understanding of the interaction between time and need.

Business Model

Our business model is based on non-exclusive licensing of intellectual property rights (IPR). This involves a sign-on fee plus a royalty per unit produced.

We will not manufacture engines ourselves, but develop and license the IPR. This is an asset-light approach with limited risk and high scalability

Value to the market

Analyses we have conducted indicate that implementing the design will be a win-win solution for the industry, end customers, other stakeholders and the environment.

The industry will realise cost and energy efficiencies, end customers will see a significant reduction in the cost of ownership, society might leverage current fuel infrastructure and everyone will benefit from a dramatic reduction in greenhouse gas emissions.

Development

We have completed the first prototype, which is up and running, and are entering a verification phase. Our aim is to complete this stage in early 2020, followed by a commercialisation phase.

The Team

Our founder is Hilberg Karoliussen, an inventor and serial entrepreneur with 12 published patents (including some being processed).
He has originated the technologies behind such companies as Quickflange (now ICR), Pipotech AS and Pleat AS (Sperre), and has 40 years of experience in construction work.

Our CEO is Svein K Aasen, who has spent 30 years working in sales/marketing and business-to-business development in industries such as logistics, IT and service delivery. The current team comprises two additional employees with long experience from machining and engineering in the oil sector.

We have been strengthened with a competent and experienced board of directors chaired by Thomas Falck, who spent nine years on the board of Kongsberg Automotive ASA.