Home News 2009 Outotec entered into joint venture with Eesti Energia
July 10, 2009 01:01:00 PM CET

Outotec entered into joint venture with Eesti Energia

OUTOTEC OYJ  STOCK EXCHANGE RELEASE, JULY 10, 2009 AT 1.00 PM

OUTOTEC ENTERED INTO JOINT VENTURE WITH EESTI ENERGIA

Outotec and Eesti Energia have entered into a joint venture for the
holding of intellectual property rights and the commercialization of
new sustainable oil shale processing technology.

Eesti Energia has a 60 percent stake in the new company with Outotec
owning the remaining 40 percent. Under the new partnership, the goal
is to become a significant supplier of oil shale technology
solutions, benefiting from Eesti Energia's experience in oil shale
mining and processing and Outotec's expertise in fluidized bed
technologies, engineering and project implementation.

Outotec and Eesti Energia have developed a solution, which greatly
improves the existing solid heat carrier process for the extraction
of oil from oil shale and other hydrocarbon materials. The new
process, called Enefit, utilizes the latest fluidized bed technology.
The process enhances energy efficiency and ensures compliance with
the European Union's environmental regulations.

"The world's recoverable oil shale resources are many times greater
than those of conventional oil reserves, with large oil shale
deposits to be found in the US, Brazil, China, Jordan, Russia and
Estonia. In Estonia alone, there is potential to use the new
technology for building several plants. We have developed a
sustainable technology for the oil shale industry and we believe that
our joint company will generate many business opportunities in the
energy sector," stated Outotec's CEO Tapani Järvinen.


For further information please contact:

OUTOTEC GmbH
Peter Weber, President - Metals Processing division
tel. +49 6171 9693 165
e-mail peter.weber(at)outotec.com

OUTOTEC OYJ
Eila Paatela, Vice President - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198
e-mail eila.paatela(at)outotec.com


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