SKF licences slop-oil recovery technology to Christof Global Impact

Rhea-AI Summary

SKF has signed a license agreement with Christof Global Impact, granting exclusive rights to commercialize its multi-feedstock slop-oil recovery technology. Originally part of SKF's acquisition of RecondOil in 2019, this technology is not central to SKF's business focus. Instead, SKF will concentrate on developing the RecondOil Double Separation Technology for industrial lubricants. Thomas Fröst, SKF Industrial Technologies President, expressed confidence in the partnership's potential to maximize technology value, while Christof's CEO highlighted their competence in industrialization.

Positive

• Exclusive license agreement with Christof Global Impact for commercializing slop-oil recovery technology enhances partnership opportunities.
• SKF retains focus on RecondOil Double Separation Technology, improving efficiency in industrial lubricant processing.

Negative

• None.

GOTHENBURG, Sweden, Jan. 5, 2022 /PRNewswire/ -- SKF has signed a license agreement that gives Christof Global Impact the exclusive rights to commercialise SKF's multi-feedstock slop-oil recovery technology (MFRT).

The MFRT was part of SKFs acquisition of RecondOil in 2019 and is not considered core to SKF's current or future business. SKF retains its focus on developing the RecondOil Double Separation Technology (DST), which is used specifically for industrial lubricants and oils – in either offline or online systems.

Thomas Fröst, President, SKF Industrial Technologies, says: "It's great to have been able to find a partner that has the knowhow and end-user access that is needed to maximise the value of this technology. We continue to invest in the development of the RecondOil DST technology and are already seeing significant process and manufacturing efficiency improvements in the factories in which it is installed."

Oliver Christof, President and CEO of Christof Global Impact, says: "We greatly appreciate the trust SKF, a company with values built on experience, quality, and know how, has put into CGI's industrialisation, development, and execution competence, to deploy the multi-feedstock slop-oil recovery technology." 

Aktiebolaget SKF
      (publ)

For further information, please contact:
PRESS: Carl Bjernstam, Group Communication
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com

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https://news.cision.com/skf/r/skf-licences-slop-oil-recovery-technology-to-christof-global-impact,c3481365

The following files are available for download:

https://mb.cision.com/Main/637/3481365/1517004.pdf	20220105 SKF licences slop oil recovery technology to Christof Global Impact
https://news.cision.com/skf/i/dji-0735-fix,c2997239	DJI 0735 fix
https://news.cision.com/skf/i/thomas-frost,c2997240	Thomas Frost

 

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SOURCE SKF

FAQ

What technology has SKF licensed to Christof Global Impact?

SKF licensed its multi-feedstock slop-oil recovery technology to Christof Global Impact.

What is the significance of the license agreement for SKF?

The license agreement allows SKF to focus on its core business while enabling Christof to develop and commercialize the slop-oil recovery technology.

What was the origin of the slop-oil recovery technology?

The technology was acquired by SKF as part of its 2019 acquisition of RecondOil.

Who is involved in the SKF and Christof Global Impact partnership?

Thomas Fröst is the President of SKF Industrial Technologies, and Oliver Christof is the President and CEO of Christof Global Impact.

How will SKF benefit from this partnership?

SKF can focus on the RecondOil Double Separation Technology while leveraging Christof's expertise to commercialize the slop-oil recovery technology.