Apr 4, 2012 - Swedish industrial technology group Opcon AB (STO:OPCO) said yesterday Svenska Rotor Maskiner (SRM), its centre of excellence for compressor technology, inked a two-year SEK-18-million (USD 2.7m/EUR 2m) additional agreement with an unnamed Chinese firm.
The cooling technology company, with which SRM, part of Opcon's Renewable Energy business, began collaborating in the summer of 2011, placed an order for the development of an additional modern compressor type based on SRM’s compressor technology. The contract signed by the two parties includes an extension option depending on the customer’s sales and, according to its terms, SRM will be receiving licence revenues from the Chinese firm for some ten years.
In the past year, SRM has signed development and licensing agreements with the same group, based on which is expects to gain revenue of about SEK 80 million. Of that amount SEK 65 million is for development.