Kebni AB (publ) and Solideq Group AB announced that they have entered a 50/50 stakeholder agreement to form a joint venture that will offer a high-tech personal safety solution to the global scaffolding market. The solution is a unique multi-sensor system, based on Kebni's Inertial Sensing competency, and without competition globally. Solution productification and industrialization is ongoing, through the technical skills of Kebni and the market insights of Solideq.

The system is currently tested on an operational scaffolding in central Sweden. Initial capitalization for the joint venture is SEK 5 million plus an addition of SEK 5 million subject to certain milestones being achieved, covered by Solideq to balance the value of the intellectual property rights provided by Kebni (valued at SEK 10 million). The validity of the agreement is conditional upon the approvals from Solideq's owner as well as financing partners.