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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Husqvarna AB    HUSQ B   SE0001662230

HUSQVARNA AB

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Husqvarna : Ekkono's machine learning innovation wins Husqvarna Group's Sustainovate Open

11/05/2020 | 03:01am EST

Husqvarna Group announces the winner of the first Sustainovate Open competition. Ekkono Solutions, a Swedish software startup, won the opportunity to develop Husqvarna's Automower® robotic lawn mowers using its Edge Machine Learning software.

Swedish startups with ideas contributing to the circular economy took on Husqvarna Group's first Sustainovate Open challenge earlier this year. After looking into a range of innovations with a strong field of finalists, the prize was awarded to Ekkono Solutions with a pilot budget of 300,000 SEK to develop their Proof of Concept. Together with Husqvarna Group they will scale the smart solution and explore opportunities to embed it into the company's range of robotic lawn mowers. The winning idea, Automower® Concept R, can build on the Group's experience with machine learning software to all  Automower® models. This offers the opportunity for stretching the lifespan of both new and existing products, taking better care with personalization of the products, and creating even longer-lasting customer relationships.

"We're extremely excited about winning Sustainovate Open," says Linn Sidahl, Head of Business Development at Ekkono Solutions. "As a startup, it is invaluable that a leading product company like Husqvarna Group chooses our technology. Since sustainability is in our company DNA, we strongly believe that Ekkono's solution will transform the Automower® robotic lawn mower to a more sustainable and circular product."

Sustainovate Open in partnership with tech and innovation hub THINGS offers a unique and effective space to learn, collaborate and cooperate with others, which enables circular solutions to emerge.

Anna-Karin Lindblom, Director of Accelerated Innovation at Husqvarna Group says, "Sustainovate Open received many brilliant ideas and visions covering our entire value chain. What set Ekkono Solutions apart was how they surpassed the jury's criteria with their deep understanding of how to use smarter and more connected products to create value for the planet and our customers."

Husqvarna Group has high ambitions to integrate circular solutions into their business. The Sustainovate Circular target (https://www.husqvarnagroup.com/en/sustainovate#!/p/p2706) aims to launch 50 circular innovations by 2025. AI, machine learning, and data-driven services drive many of these circular services, such as sharing, renting, and maintenance for their products.

For additional information, contact
Åsa Larsson, Global Media and Sustainability Manager, +46(0)700 032 333,
Linn Sidahl, Head of Business Development Ekkono, +46(0)722 212 411

About Ekkono and the Winning Concept
Ekkono does Edge Machine Learning (ML) software that runs onboard things - from large to tiny things - to make them self-learning and predictive. Ekkono's Edge ML software enables the Automower® robotic lawn mower to learn each individual garden; Not just a garden, but my garden. By operating the robotic lawn mower  only when and where it is needed, this is expected to consume up to 30% less electricity. By enabling this and other smart features as software upgrades, the concept will extend the life-length of the robotic lawn mower by avoiding perfectly fine hardware from being thrown away or replaced. For more information, please visit www.ekkono.ai.

About Sustainovate
Sustainovate is Husqvarna Group's strategic approach to driving sustainability transformation in its industry. The Group aims to pioneer solutions for step-change efficiency and smarter use of resources. The five-year framework covers three opportunities and associated targets to 2025. This goal-based approach focuses on long-term value creation and engaging others in Group efforts. For more information and the Sustainovate Progress Report 2019 visit: www.husqvarnagroup.com/sustainability  
 

Husqvarna Group
Husqvarna Group is a global leading producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a global leader in cutting equipment and diamond tools for the construction and stone industries. The Group's products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2019 amounted to SEK 42bn and the Group has some 13,000 employees in 40 countries.

https://news.cision.com/husqvarna-ab/r/ekkono-s-machine-learning-innovation-wins-husqvarna-group-s-sustainovate-open,c3231799

https://mb.cision.com/Main/996/3231799/1331017.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Sales 2020 41 756 M 5 031 M 5 031 M
Net income 2020 2 537 M 306 M 306 M
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P/E ratio 2020 24,5x
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Henric Andersson President & Chief Executive Officer
Thomas Johnstone Chairman
Glen Anthony Instone Chief Financial Officer & SVP-Finance
Anders Johanson CTO & Senior VP-Innovation & Technology
Ulla Viveka Litzén Independent Director
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