KONGSBERG has over the past decades made substantial investments to secure world
leading technology positions. In 2016, KONGSBERG established Kongsberg Digital
(KDI), gathering important digital initiatives under one business area. Today,
KDI has established itself as a leading provider of digitization solutions to
the energy sector and the maritime industry. The phase KDI is now in makes it
natural to assess both future partnership and other models in order to fully
realize the value potential KONGSBERG sees in KDI. This also include listing on
the stock exchange. In connection to this, KONGSBERG has engaged Carnegie and
DNB Markets to coordinate a potential listing of KDI during 2022.

KONGSBERG has high ambitions for KDI, and KDI's current business plan aims for
revenues of  NOK 2.8 billion in 2025. The growth from the current revenue level
of approximately NOK 800 million will mainly come from the product areas
Kognitwin and Vessel Insight with associated own and third-party applications.
Significant investments are currently being made to roll out new solutions and
applications with substantial scaling potential. This has also led to KDI
increasing the number of employees by more than 20 percent so far in 2021. 

Kognitwin has established itself as a leading dynamic digital twin solution for
the energy sector, including a significant agreement with Shell International
for the roll-out of digital twins on their global portfolio of assets. In
addition, a significant number of exclusive concept evaluations are underway
with major international companies such as ExxonMobil. KDI's first digital twin
has been in operation at Shell's Norwegian processing plant Nyhamna since
December 2019 and as of today, five digital twins are in operation for Shell. In
addition, KDI has recently signed two new Kognitwin solutions, to a large
LNG-company. The number of new digital twins in operation has developed
according to plan. KONGSBERG sees significant potential for digital twins in
both conventional and renewable energy, as well as other industries.

Increased demand for efficiency as well as adapting to the maritime green shift
is an important driver for digitalization. A prerequisite for being able to
digitize is that the vessel is connected to the cloud and to make contextualized
data available. Vessel Insight enables this quickly, safely, and efficiently. As
mentioned in KONGSBERG's 3rd quarter report, lower investment willingness as a
result of the maritime industry facing challenges during the covid pandemic, has
led to some delays in relation to previous marketing and rollout plans for
Vessel Insight. KDI is now experiencing a noticeable improvement in the market
and several new customers have been signed in the last quarter. Throughout 2021,
fleet rollout agreements have been signed with, among others, Olympic Subsea,
Güngen, Island Offshore and Dorian LPG. In addition, companies such as Höegh
Autoliners, BW and Marinvest have signed Vessel Insight for parts of their
fleets. So far in 2021, 36 shipowners, have signed on to Vessel Insight for all
or part of their fleet. In total, shipowners who have signed contracts on Vessel
insight controls some 2 750 vessels. The number of application providers
available through Vessel Insight has also increased significantly in 2021 and a
wide range of applications is now offered through the infrastructure.

KONGSBERG will not give any further comments on the content of this disclosure.
The company will update the market when appropriate and as a minimum in in
connection with presentation of the company's ordinary quarterly presentations. 

KONGSBERG (OSE-ticker: KOG) is a leading global technology corporation
delivering mission-critical systems and solutions with extreme performance for
customers that operate under extremely challenging conditions. We work with
nations, businesses and research environments to push the boundaries of
technology development in industries such as space, offshore and energy,
merchant marine, defence and aerospace, and more. KONGSBERG has about 11,000
employees located in more than 40 countries, creating a total revenue of NOK
25.6bn in 2020.
Follow us on: kongsberg.com, Facebook, Twitter and LinkedIn

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange