Xelerator client RPR wins prestigious European Venture Award

Xelerator Backround Info: RPR Technologies has been an Xelerator client for the past 3 years. In 2006 Rick Salmon took over as CEO for RPR in order to help the founders get their patented prototype on the market. The first thing Xelerator did was to assemble a professional Board of Directors and to raise the initial seed financing needed to launch the company. By the end of 2006 the first products were shipped and in 2007 the company passed breakeven. Today RPR employs 6 people, has established sales channels in N.America and W.Europe and has been publically recognized as an exciting and growing young Norwegian business. As part of a strategy to position the company with potential investors, RPR entered a series of venture competitons in August 2008. After winning both "Best Presentation" and "Best Elevator Pitch" awards in the qualifying rounds, RPR qualified for the finals of the EURECAN EUROPEAN VENTURE CONTEST and went on to win the award in the Cleantech category. Note that this is a strategy that Xelerator would recommend for all startup companies. If you are interested in learning more about how to succeed with this type of tactic, contact Xelerator today.

Norwegian company wins prestigious award with “Clean Technology"
RPR Technologies wins “Best Cleantech Company” prize in European Venture Awards

(Porsgrunn, Norway - January 13, 2009)
Removing paint from ships and oil platforms is hazardous to the environment and to operators. A new Norwegian technology virtually “peels” off paint instead of using sandblasting or high-pressure water blasting. This is accomplished in a fraction of the time and is so environmentally friendly that the company RPR Technologies was awarded as the “Best Cleantech Company” in the Eurecan European Venture Awards.

RPR Technologies A/S of Porsgrunn, Norway won the Best Cleantech Company award at the recent 2008 Eurecan European Venture Awards contest in Barcelona, Spain. RPR has invented a new technology for removing paint and corrosion from steel surfaces that is significantly cleaner for the environment than the traditional paint removal methods (sandblasting and waterblasting). The RPR machines use a patented process with induction heat to remove paint from steel that is not only cleaner, but also safer for operators and from 2 to 10 times faster than competitive methods, that emit hazardous dust and water waste into the sea and air. The RPR process creates no harmful waste byproducts and allows operators to work quickly, cleanly and safely.

The Eurecan European Venture Award is a multi-stage contest aimed to identify, promote and reward the most innovative early stage companies in Europe. The selection jury was comprised of experts from industry and venture capital and has evaluated the companies on the basis of 7 criteria (business potential, team experience, technology merit, competitive position, investment interest, growth potential and the entrepreneur). In this year’s competition 725 companies registered to compete. 261 companies were selected for the semi-finals and 21 were selected for the finals which were held on December 17 & 18, 2008 in Barcelona. RPR Technologies of Porsgrunn, Norway was awarded first prize in the Cleantech sector.

“Being selected as the top cleantech early-stage company in Europe is a huge honor for RPR. In these times of global financial crisis, it is important that the good young companies get help and assistance in order to grow “ says Rick Salmon, CEO at RPR Technologies A/S. “Not only is our product good for the environment, but it also allows our users to be more competitive financially. We believe that the market for ship and offshore repairs will actually increase in light of the current economic conditions and this technology can help protect industry jobs in countries where labor costs are high.”

About RPR
RPR Technologies manufactures an industrial machine that removes paint and other coatings from steel surfaces using the process of induction heat. This is a unique, cleantech technology that has been patented in 54 countries and competes with the traditional methods of paint removal such as sandblasting and ultra high pressure (UHP) water blasting. The competitive advantages are that the RPR process is CLEANER than blasting (no hazardous airborne or water waste), SAFER for operators (silent, minimal safety equipment required) and FASTER - especially when removing thick difficult coatings (from 5 to 20 times faster). This can result in considerable cost savings for customers. There are four initial target markets; marine, offshore oil platforms, land based oil & gas pipelines, and storage tanks (chemical, oil & water). RPR is based in Porsgrunn, Norway. On September 29, 2008 RPR was also the winner of “Best Presentation Award” at the EVC Cleantech Venture Forum in Linz, Austria.

See the following links for more information (Norwegian Language only):

	NRK.no: Vant europeisk miljøpris (European Environment Award)
	Offshore.no: Miljøpris til RPR (Environment Award to RPR)
	Varden.no: Internasjonal miljø-pris til lokal bedrift (International environmental award to local business)

About the European Venture Awards
For more information about the European Venture Awards see: www.e-unlimited.com
Contact Person: Tanja Baltus, Europe Unlimited, Place Flagey 7, B1050 Brussels, Belgium
Tel: +32 264 33682 Email: tanja@e-unlimited.com

For more information about RPR Technologies A/S, see www.rprtech.com
Contact Person: Rick Salmon Tel: +47 9139 0604 Email: rs@rprtech.com