Kebni and Solideq forms joint venture to offer groundbreaking safety solution
Technology company Kebni AB (publ) and scaffolding industry leader Solideq Group AB has entered a joint venture agreement to produce and offer a unique safety innovation to the global scaffolding market.
Stockholm 12 january 2023 – Kebni AB (publ) and Solideq Group AB today announces that they have entered a 50/50 stakeholder agreement to form a joint venture that will offer a high-tech personal safety solution to the global scaffolding market.
The solution is a unique multi-sensor system, based on Kebni’s Inertial Sensing competency, and without competition globally. Solution productification and industrialization is ongoing, through the technical skills of Kebni and the market insights of Solideq. The system is currently tested on an operational scaffolding in central Sweden.
“Solideq has always considered safety key. We realize that this innovative solution enables a leapfrog in personal safety for the global construction worker community, and we’re therefore eager to bring this to the market!” says Tobias Wreje-Larsson, CEO at Solideq.
”Considering the virtually endless market opportunities, as well as the positive impact this solution may have on the scaffolding industry, this is definitely one of Kebni’s most thrilling and strategically important ventures right now I’m hopeful that this, along with our other ongoing and planned projects, will contribute to Kebni’s long-term strategy and profitability.” says Torbjörn Saxmo, CEO at Kebni.
Initial capitalization for the joint venture is 5 MSEK plus an addition of 5 MSEK subject to certain milestones being achieved, covered by Solideq to balance the value of the intellectual property rights provided by Kebni (valued at 10 MSEK). The validity of the agreement is conditional upon the approvals from Solideq's owner as well as financing partners.
In alignment with Kebni’s strategic intent, this solution is the first example of end-to-end applications developed by Kebni. The company plans to release additional applications over the coming years and thereby add revenue streams in a scalable manner.
