SKF wins Swedish Innovation Award

2009 December 04, 09:06 CET

SKF has among eight finalist companies been selected the winner of the 2009 Swedish Innovation Award. The jury motivation was:

“Innovation is daring to challenge old conceptions. This year’s winner of the Swedish Innovation Award has taken a more than 100 year old product, combined it with modern research and technology and utilized a new market demand for climate changeover and energy efficiency. Technical innovations have been packaged into a company vision – BeyondZero™. This year’s winner has set a standard for how innovation and commercialization go hand in hand. SKF is a worthy winner of the 2009 Swedish Innovation Award.”

SKF sees innovation from two dimensions. Products and solutions are being developed based on both customer needs and new technology trends.

 “In 2007 SKF launched a whole new family of energy efficient bearings that reduces energy consumption by at least 30% compared to standard ISO products. With these customer driven innovations we will be able to support industry in making a significant contribution to energy savings today and in the future.” says Tom Johnstone, President and CEO of SKF.

In addition SKF is addressing its own energy consumption and to reduce CO2 emissions in its BeyondZero™ initiative. In short this means that the energy savings from the products and solutions that SKF supplies to its customers will be greater than the SKF Group’s own energy consumption.

The prize sum amounts to 100 000 SEK and the money will be put into a fund with the purpose to support researchers in a field of interest for future SKF innovations such as material development.

The Swedish Innovation Award was founded 2007 by the Swedish trade magazine Veckans Affärer and the technical consulting group ÅF with the purpose to highlight and reward commercialization of innovation in a broader perspective.

Göteborg, 3 December 2009

Aktiebolaget SKF

For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile: +46 706-973260, e-mail:

IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994, e-mail:

SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. The Group’s annual sales 2008 were SEK 63,361 million. The number of employees was 44,799.

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