AGO AG Energie + Anlagen: Majority stake in Norway

• Foundations to access the Norwegian heat supply market laid
• AGO acquires more than 50 percent of Norwegian company Ringdalskogen Fjernvarme AS
• First delivery of heat to the industrial estate Ringdalskogen scheduled for fall 2010

Kulmbach, 20 November 2009: AGO AG Energie + Anlagen: (cusip number: A0LR41; ISIN: DE000A0LR415) has acquired a majority stake of more than 50 percent in the Norwegian company Ringdalskogen Fjernvarme AS. The new AGO subsidiary holds a concession to supply heat to the industrial estate Ringdalskogen south of Oslo in Norway. By acquiring this stake, AGO AG has laid the foundations to access the Norwegian heat supply market. The parties have agreed not to disclose the purchase price. The first delivery of heat to the industrial estate is scheduled for fall 2010.

“One of the deciding factors in the project developer NHP AS, Trondheim, getting the commission to supply the industrial estate to the North of Larvik with heat was our proven expertise in industrial heat provision. Our wholly-owned subsidiary HoISoTherm GmbH has been incrementally rolling out heat supply in an industrial estate since 1999. And I am sure the fact that we have been supplying the Daimler AG engine factory since 2002, including this year’s expansion efforts, also had a vital role to play,” explains Hans Ulrich Gruber, Chairman of AGO AG Energie + Anlagen.

The Norwegian company Enwa PMI AS from Sandefjord is another shareholder of Ringdalskogen Fjernvarme AS. AGO AG already signed a cooperation contract with Enwa PMI AS in May of this year. The cooperation is aimed at tapping the potential of the Norwegian market.

“Our Norwegian partner Enwa PMI is a perfect fit to successfully get a foothold in the market in Norway. As the operator of a district heating system in an industrial estate we have immediate access to industrial companies based there. In addition to needing heat, these companies also require energy related engineering,” adds Gruber.

About AGO AG Energie + Anlagen

AGO AG Energie + Anlagen, with its registered office in Kulmbach, was founded in 1980 and is specialized in the area of innovative and efficient energy supply facilities for industrial customers and municipalities. Main focus of AGO AG Energie + Anlagen is laid on the following business divisions: plant development and implementation, as well as service and consulting. The core competence of the company mainly commits to thermal power stations, to heating, cooling and ventilation technology plant construction, biomass cogeneration plants and trigeneration. Site studies and development, consulting in energy efficiency, resource and fossil fuel management as well as emission trade management – these factors complete the business model. AGO symbolizes efficiency, security and technological competence of your energy supply facilities.