11 October 2021 - Elop has entered a research and development collaboration with
Veidekke and Stavangerregionen Havn IKS to develop Elop's asset management
system (AMS) for predictive maintenance of concrete infrastructure.

Veidekke is a leading Scandinavian construction and civil engineering company
that is listed on the Oslo stock exchange, while Stavangerregionen Havn IKS is
responsible for management of assets such as piers, jettys and buildings in the
ports of the Stavanger region in Norway. 

The digital collaboration tool will collect data from various sources so that
infrastructure owners can prioritize the right measures at the right time, using
AI-driven technology.

"We at V-teknikk (Veidekke) see great potential for future use of an asset
management system for documentation of the condition of large concrete
structures, especially related to the management and inspection of bridges and
other concrete structures. This will provide Veidekke with better insight into
the condition of the structures and the opportunity to plan improvements," says
Alf Egil Mathisen Concrete Technologist at Veidekke.

Veidekke aims to utilize the Elop Insight ultrasound scanner in combination with
other NDT equipment such as GPR and cover meter, as well as drones for
collecting images, to provide a product to participate in tenders for
rehabilitation of bridges and other large concrete structures. 

"The overall goal is to put all this data together so that the entire structure
can be 'read'. There is a myriad of structures owned by the Norwegian Public
Roads Administration, Statkraft, Nye Veier, county municipalities etc. that
require a condition control and remediation plan. This will generate jobs for
the construction industry," adds Alf Egil Mathisen.

Elop's asset management system Elop will be modern, intelligent, user friendly
and able to seamlessly incorporate data from multiple sources. Analysis of
several different data sources will be utilized to make data-driven decisions.

"Elop will build the AMS system for asset owners and asset managers globally.
Having several collaboration partners from different backgrounds and geographic
locations, allows us to gather the best ideas and build a holistic,
user-friendly system for the global market. The collaboration with Veidekke and
Stavangerregionen Havn IKS enriches our vision and brings in a unique
perspective from the private sector. We look forward to the collaboration," says
Elop Technology's chief product officer, Erik Leung.


For further information, please contact:

Media
Øivind Horpestad, Executive Chairman of Elop, tel: +47 910 00 626

Investors
Kim Boman, CFO of Elop, tel: +47 959 63 912

About Elop
Elop is a Norwegian holding company with two operating subsidiaries. Elop
Technology develops tools and digital solutions to inspect, monitor and manage
infrastructure worldwide using patented ultrasound technology. Through
data-driven and AI-based solutions for inspection and predictive maintenance of
concrete infrastructure, the vision is to provide asset owners with solutions
that improve safety, extend asset lifetime, minimise total lifecycle cost and
environmental footprint. Simplifai offers automation solutions using artificial
intelligence. Simplifai's Digital Employee solutions automate labour intensive
work process where natural language communication including email, chat or
documents are central.