29


Jun

IVISYS AB receives order from LM Wind Power in Denmark

Press release
IVISYS AB
556998-4981
29 June 2018

IVISYS AB (’IVISYS’) has received an order from the Danish company LM Wind Power A/S, the world’s largest manufacturer of rotor blades for wind turbines. IVISYS has been selected to develop and present the design of a standardized, automated vision inspection system, which will be used by LM Wind Power for the inspection of rotor blades on a global scale. In return, LM Wind Power pays IVISYS approx. 17 000 EUR for the presentation. The amount is expected to impact IVISYS’ Q3 2018 results. Upon acceptance of the suggested solution, orders of the suggested system will follow to be installed in LM Wind Power’s production facilities.

LM Wind Power has 15 production facilities worldwide. The feasibility study will cover how to engineer a solution that is applicable at all of LM Wind Power’s factories. In addition, the study will present how IVISYS’ novel image processing technology is able to detect and identify a wide range of flaw types that are well-known in the rotor blade industry.

LM Wind Power is a part of the GE Renewable Energy group, which is present in 55 countries around the world, with a broad portfolio of products and services for the renewable energy industry.

CTO Moatasem Chehaiber comments

‘The wind turbine industry is characterized by being highly consolidated, with very large international companies, complying with the highest quality standards. Therefore, we see it as a great opportunity to present IVISYS’ unique capabilities in solving such kinds of quality issues. Customers like LM Wind Power have high levels of expectations and we are pleased to take on the challenge. I personally look forward to see our software perform in this challenging environment,’ says CTO Moatasem Chehaiber.

Certified Adviser

Sedermera Fondkommission is IVISYS’ Certified Adviser.

For further information, please contact

Jakob Kesje, Chairman of IVISYS AB

Phone: +45 20 22 60 10

E-mail: jk@ivisys.com

This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on 29 June 2018.

About IVISYS

IVISYS provides vision-based quality inspection solutions for industry, which can replace both manual and mechanical quality control. IVISYS’ unique, patented solutions make it possible to perform complex quality control while keeping the existing production flow unaffected. Unlike existing solutions, IVISYS’ approach makes it possible to perform complex surface controls, control measurements on the micron level and control multiple components in one instant process. The solutions are based on IVISYS’ patented image data processing, which differs fundamentally from the conventional processes used within vision systems today. IVISYS is capable of utilizing high-resolution cameras in the company’s image processing, while at the same time processing image information faster than the company’s competitors. The solutions offered have an average payback period of approximately six months for customers currently relying on mechanical or manual control.

IVISYS is the winner of Frost & Sullivan’s 2017 Entrepreneur of the Year in Europe Award.