AVTECH announces that the Swedish Energy Agency supports further development of Aventus

The Board of Directors of AVTECH Sweden AB (publ) ("AVTECH" or "The Company") today makes the following announcement:

AVTECH announces that the Swedish Energy Agency has granted funding for further development work of AVTECH’s Aventus system. Norwegian Airshuttle A/S (“Norwegian”) will take an active part in the planned project. This new project aims at reducing fuel consumption and, thus, environmental emissions.

As previously announced, AVTECH and Norwegian have jointly completed a project, in part financed by the Swedish Energy Agency, to evaluate AVTECH’s Aventus AIR service which focused on the descent phase of a flight.
The decision made by the Energy Agency means that AVTECH and Norwegian will jointly initiate a development project to enhance optimization for the climb phase of a flight with the purpose to reduce fuel consumption and CO2 emissions.

“Norwegian is an airline with one of the youngest and most fuel-efficient fleets and has over the last 10 years reduced emissions by 30 percent. They have a clear focus to reduce their environmental footprint further to achieve a sustainable aviation. AVTECH has both the technology and the knowledge to support Norwegian in these efforts and I am convinced that our planned project will lead to a reduction in fuel consumption during the phase when an aircraft takes off and climbs toward its cruising altitude,” says Sören Skog, Marketing Director at AVTECH.
“We have for some time identified possibilities to enhance our Aventus service further and the Energy Agency’s decision means that we now focus on combining our unique access to high resolution weather with our knowledge in optimization. Norwegian focus on reducing their environmental impact has proven them to be an ideal partner and we are very happy to see a continuation of our cooperation,” he continues.

In September 2018 Norwegian was for the second time appointed the most fuel-efficient transatlantic airline by the International Council on Clean Transportation (ICCT), the same organization that revealed the Volkswagen scandal.

“AVTECH’s offer of working together in finding solutions that reduce aircraft fuel consumption and CO2 emissions fits very well into our environmental contribution of sustainable operations” says Tomas Hesthammer, Director of Flight Operations at Norwegian.
“Norwegian can contribute with knowledge in airline operation, but also a possibility to test and verify the outcome of AVTECH’s improved services” he concludes.

An aircraft consumes a large portion of fuel during the climb phase when the engines are set to high thrust. This project has an ambition of reducing climb fuel consumption by using variable speeds in climb and AVTECH’s advanced weather data during this phase. The possibility to test and verify our systems effectiveness on real flights is of course very valuable. We are glad that our excellent cooperation with Norwegian continues” concludes Sören Skog.

The project, which shall be completed not later than 30 November 2019, is financed with 45% by the Swedish Energy Agency and AVTECH bears the cost for the outstanding amount.

For more information contact

Christer Fehrling, CEO +46 8 544 104 80
Bo Redeborn, Chairman of the board, +46 8 544 104 80
Sören Skog, Marketing Director, + 46 8 544 104 80

The information was submitted for publication, through the agency of the contact persons set out above, 19 February 2019 at 08.00 CET.

About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety.
AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Redeye AB, tel: +46 8 121 576 90, as certified advisor