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changing the game of the energy market

Dec. 2013

Christmas Edition We develop energy saving, innovative and patentable products and systems related to the maritime industry and the energy sector.

Christmas 2013

Daily we hear people talk about the need for a better world, but very few do anything about it. Just last week, I heard Norway’s bestplaced men and women talk about the need to invest in renewable energy to solve global warming but very little happens behind the scenes. Financial institutions, experts and representatives of the largest banks are all joining the choir, but when it comes down to it no one is willing to take the risk.

Tore Hansen-Tangen

Dear Reader Five years ago we set out to revolutionize the energy market, and today I can safely say that we have made it. The CraftEngine, which uses renewable heat and waste heat to produce electricity, has shown remarkable results. Even though we are still testing, and will be doing so for some more weeks and months ahead, we can already say that the CraftEngine will be our New Year’s gift to the world. The CraftEngine produces electricity at affordable prices and can do so anywhere in the world - in both urban places and in remote areas without a grid.

In this newsletter, you can read more about the fantastic test results.

However, Viking Development Group is much more than the CraftEngine. We have developed the “Sandpiper”, a patented sand discharging system which enables bulk carriers to discharge a ship load of sand three times faster than any other system, making land reclamation a lot faster and cheaper than previously possible. This is especially important when quickly needing to build barricades against flooding.

We in Viking Development Group are not about empty words. We are all about action and we show this every day in our work. We are genuine in our goal to make the world a better place. But “the road less taken” is far from easy. As we are not an industrial group, but a think tank, we need help from others who have the means and the visions to make the CraftEngine the world success it has the potential to be. We are building up an “Innovation House” here in little Kristiansand, Norway. We want to take the lead in enabling young, innovative and creative men and women fulfill their dreams and aspirations. We want their ideas to end up in products that can make the world a better place for all unfortunate people who are today living without the most basic need such as water, food and electricity. As we are nearing the end of this year and ready to embark on a new one, I want to take this opportunity to thank everyone who support and work with us for their dedication, innovative spirit and professionalism. Without the team spirit you show, none of this had been possible. Let us remember Nelson Mandela, the greatest believer in mankind who said: “It always seems impossible until it is done”.

I wish you all a Merry Christmas and a Happy New “CraftEngine” Year. Tore Hansen-Tangen, Chairman

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

Viking Holding AS

Viking Think Tank AS



Viking Holding Invest AS Hansen Tangen Shipping AS Visuray AS


Viking Holding Eiendom AS


Viking Heat Engines AS IP/project

Viking Heat Engines Caribbean Ltd. AS Viking Dredging AS IP/project

Viking Land Reclamation (S) Pte Ltd.

Seil & Rigg AS

Viking Seed Capital AS

Blank AS



Digital Design

Viking Development Group | Ă˜stre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

A Landmark year for Viking Heat Engines AS and the

CraftEngine After more than four years in the making, from idea to concept, through R&D and production - the first Demonstration Unit is successfully delivered to Returkraft AS in Kristiansand. From the first idea of the CraftEngine until now three prototype generations have been developed. With Prototype A the concept was proven on an experimental machine. Prototype B showed the huge capability of the CraftEngine with n-pentane as working

Prototype A

Prototype B

fluid. This generation was already designed with the use of automotive components, but was mainly still for internal development use. The third generation (demonstrator engines) of the CraftEngine is designed based on the entire knowledge and experience from the former generations.

At Returkraft, the three CraftEngines installed will produce a minimum of 150.000 kWh per year and demonstrate how lowtemperature waste heat can successfully be converted into high value electricity. The investment made by Returkraft AS, the most modern waste incinerator plant in the Nordic countries, lends itself to their overall mission of environmental friendly energy recovery. Through this pilot operation, supported by Enova, the government facility for supporting implementation of new environmental friendly technologies, we will show how future power packs of the CraftEngine can scale the capacity of these small scale cost efficient ORC Engines into effective systems for handling low temperature waste heat from industries.

Demo Unit

Viking Development Group | Ă˜stre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

“This is fantastic and it’s very nice “It’s a great story on technical innovation, and the company with its employees is workto see the unit in full operation”, says Nils Kristian Nakstad, Managing Director of ENOVA.

ing very hard to commercialize the project in the most exemplary way. I firmly believe in

the CraftEngine, and I also believe in Vikings ability to carry through the project. This is just impressive!” Odd Terje Døvik, CEO at Returkraft, is equally satisfied: “Although the CraftEngine project is indeed economically interesting to us, the most important aspect is that we can now use more of the energy which would otherwise have been wasted. Now we can convert more of this energy into electricity, which can be sold at good prices all year round”.

After this first installation we will be delivering a host of CraftEngines soon to be operated by :

Caterpillar Energy Solutions GmbH on waste heat from their gas engines Nils Kristian Nakstad, Managing Director of ENOVA.

Odd Terje Døvik, CEO, Returkraft

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

Mitsui & Co Ltd. on geothermal heat in Japan.

B/E Aerospace Inc. against exhaust gas from an industrial generator set – and finally

ETA Heiztechnik GmbH in Austria in combination with a customized biomass boiler.

estimates produced by our advanced simulation models. Andreas Mück, Senior Program Manager at AVL Schrick GmbH, says: “The production and testing are ongoing. These engines are entirely newly developed, including the hydraulic system, the generator, the grid inverter and the newly developed control system, and will cover a broad range of temperature levels. After performing the optimi-

Tore Hansen-Tangen, Viking Development Group

Andreas Mück, AVL Schrick GmbH

Our partners provide professional technical competent demonstrations and potential commercial market reach, which offers great promise in offering the CraftEngine quickly and effectively to market.

zation runs of the hydraulic system and testing different evaporators, the CraftEngine is running very stably. The Testing started with the low-temperature case (which is the most challenging scenario) and the measured (electrical) efficiency of the CraftEngine showed at least 7.3%, which was also higher than targeted. This result underlines the large potential at very low temperature levels. Mechanically no major issue could be detected yet”.

“Our priority number one for 2014 is to show sales or commitments to buy enough CraftEngines to allow us to decide on full assembly line production in the first half of next year” says Tore Hansen-Tangen, Chairman of Viking Heat Engines.

“It has indeed been a Landmark year for the CraftEngine“, says John Bernander, CEO of Viking Heat Engines. “The Field Tests are being established and what for some was perceived as a distant dream is now an operational reality. We have the CraftEngine producing cost efficient electricity from almost any heat source. Decentralized local energy production is a way of the future; the CraftEngine is a vehicle to that future”.

John Bernander, Viking Heat Engines

ENOVA and Returkraft praises the CraftEngine project

“I am confident that our competent Viking Heat Engines Team will achieve this goal, and that we will have the first CraftEngines running off the assembly line late 2014 or early in 15” he concludes. We have so far conducted a large series of tests in the industrial engine test facilities of our development partner, AVL Schrick, located in Remscheid, Germany. The test results so far have actually been exceeding the target values for efficiency and power output, in comparison to those of previous

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

Near commercial breakthrough in 2014, also for Viking Dredging AS and the Sandpiper 2013 was the year that the market for land reclamation finally picked up again in Singapore, with the recent announcement of the Singapore government that Singapore needs to reclaim up to 5200 ha of land by 2030 for its development need to meet the projected increase in population. This fact paves the way for the long awaited introduction of the Sandpiper system to the market.

The Sandpiper technology is a patented method for unloading bulk carriers, by effectively slurrifying the sand inside each cargo hold and then pumping the sand out from the vessel. The Sandpiper makes it possible to transport sand over long distances utilizing the economy of bulk carriers – and to empty these bulk carriers in a very efficient way and at significantly reduced costs, compared with today’s methods. The technology uses well-established processes and components from the dredging

industry and applies them with innovative configuration that is designed to easily implement onto existing bulk carriers with minimal structural change. The Sandpiper system reduces the unloading time from today’s 3-4 days for a 60,000 DWT vessel to less than 24 hours. The process also enables direct pumping to land, without any need for break bulking or re-handling between the bulk carrier and the unloading area. This technology has been developed over the past 5 years, in order to bring a new and more efficient methodology to the land reclamation market, which has for a long time seen little innovation. A patent has already been obtained for the main concept following detailed engineering studies, computer simulation and scaled modeling. DNV Class has also verified seaworthiness of the system. Conversion costing exercise based on a complete set of construction drawings has been carried out with useful technical and cost inputs from the shipyards and equipment manufacturers. With the recent announcement from Singapore government, the prospect of the sand

supply business has changed significantly, and the total volume of sand needed for the reclamation is estimated to be exceeding 1 billion m3 over the next 17 years. This is followed by the calling of the reclamation tenders (MPA bund and the Jurong Island Westward Extension) and, most importantly, the “Request for proposal to develop efficient and speedy sand discharging methods”, a recent tender issued by JTC, the public organization in charge of Singapore’s land reclamation demand. The tender has the following two main goals: - To reduce sand discharging time from bulk carriers with at least 30% and - To reduce costs compared with conventional sand discharging methods, is a perfect match for the Sandpiper system The two goals go straight to the heart of the Sandpiper technology and Viking Dredging AS, through our local partner in Singapore, has recently submitted our tender documents to JTC. Following a successful tender award we may finally be able to run the system in full scale and then begin the journey of commercializing the product, full scale.

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

Finally complete!

Innovation House

In 2008, Viking Holding Eiendom AS purchased Østre Strandgate 40 from the local Red Cross organization, and following a comprehensive renovation process we moved in a year later.

While still maintain a trim organization, the need arised for a bit more space and in 2012 we initiated the process to add a new construction on our property. In December this year, the construction was complete and the team of Viking Heat Engines AS will move into their

An old dream coming true Kvartal 57 AS was established in January 2013 in order to develop a “Premium Living” concept in the closest neighborhood to our “Innovation House”. The property at hand is THE premium property left in our city to be developed, and our vision is to build a luxury apartment complex, with health and home care services enabling the apartment owners to enjoy life even if they are not as strong as they used to be.

new offices early January 2014. The original building will house the rest of the group, including the recently added organization of our patent company Lean IPR AS, as well as the seed capital fund soon to be established.

Kvartal 57 AS was established as a daughter company of Viking Holding Eiendom AS, the property arm of Viking Development Group, but soon thereafter AGS Holding AS, a company owned by the Grov family joined in with a 50 % stake. With such strong partners on board we feel confident that we will be able to develop the project according to our vision, to create something special, with a quality and content not yet seen in Norway. Kvartal 57 will be located near Kristiansand harbor, with a unique view over the fjord and islands surrounding Kristiansand, the “summer city” of Norway. We hope to commence construction some time in 2014.

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013

Lean IPR AS – at your service! We are proud to announce that we have recently established the first innovation and patent office in Southern Norway. The target group is everyone from single innovators to larger high-tech industries.

figure to the right, some of the networks in the region that we have invited for strategic partnership, are listed.

“I see Lean IPR as a strategic tool for the region and wanted to help kickstarting it”, says Tore Hansen-Tangen.

The company will be run by Odd-Jone Linnebo, himself a long time entrepreneur with long experience with IPR strategy and patent portfolio management. “We will NOT be a traditional patent office”, says Linnebo. “Instead, we will provide extended services with focus on among others freedom to operate-, market- and competitor analysis, business intelligence and strategy. At the same time we will provide traditional patent office services through our network. However, by utilizing innovative methods and new software we will offer the service at higher quality level and lower cost”.

Odd Jone Linnebo

As part of the knowledge team, we have teamed up with the people at IAMIP AB with substantial IP experience from among others ABB, Philips, Patentverket and more. Their business idea is to optimize the utilization and exploitation of the IPR of any enterprise and thus maximize their returns on their investment. “Embrace innovation & realize your future today”, says Dimitris Giannoccaro, CEO and founder. IAMIP recently won the prestige Nu 2013 in Sweden and on the picture below they win Sweden`s biggest innovation scholarship.

Is this possible? Visit us and ask us how! Lean IPR intends to work closely with the various network and communities involved in innovation and entrepreneurship. In the

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

Christmas 2013 Viking Seed Capital AS – bridging the gap.

From innovative ideas to initial commercialization STARTUP







Got an idea? Bring it on.

Over the past 10-15 years, the team at Viking Development Group has developed a series of successful innovations. As for most innovative companies, this has been a constant struggle to raise capital, and often from investors with limited technical knowhow and expertise. “Over the past 4-5 years, access to risk capital has been increasingly challenging, as most investors have either sunk their capital into low risk property investments – or they will only invest in projects with proven technology and established cash flow”, says Tor



Hodne, Managing Director of Viking Development Group. “While the local community is ripe with entrepreneurs, inventors and innovators, the seed capital market available to those people is bone dry. This constitutes a major challenge for the innovation processes in our local area, and we intend to something about it”. Following the successful commercialization of our main products in 2014, the team at Viking Development Group aims to establish our very own seed capital fund, and we will complement this seed capital with technical know-how, commercial expertise and a dedicated set of investor teams to follow up and actively assist all the entrepreneurs and innovators that we invest in. Third party investors will be invited to participate, and we will aim to bring the projects to a stage where venture funds or similar can take over. In combination with the establishment of Lean IPR AS and the competent technical team at Viking Development Group, this will

Tor Hodne. Viking Development Group

enable and empower local innovators to develop their brilliant ideas into actual commercial products. With this in place, Østre Strandgate 40 in downtown Kristiansand will finally fulfil our vision to become a uniquely complete “Innovation House”.

Stay tuned for the future.

Viking Development Group | Østre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

May the good times and treasures of the present become the golden memories of tomorrow. Wishing you lots of joy and happiness. Merry Christmas – and a prosperous New Year!

Viking Development Group | Ă˜stre Strandgate 40, Pb. 22, NO-4661 Kristiansand, Norway | Tel: +47 38 10 41 00 Fax: +47 38 02 08 40

VDG 12 2013  

Christmas edition. Viking Development Group is going to revolutionize the energy market With their New invention; The CraftEngine.

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