KONE to deliver passenger elevator to reach 400m deep underground nuclear waste storage in Finland

KONE Corporation, press release, December 22, 2015

KONE Corporation, one of the global leaders in the elevator and escalator industry, and Posiva, an expert in nuclear waste management, have signed a contract on the delivery of a passenger elevator for ONKALO, Posiva's final disposal facility for spent nuclear fuel in Olkiluoto, western Finland. The engineering and manufacturing of the elevator, which will reach a depth of more than 400 meters, are major stages in the construction of the disposal facility.

KONE will deliver a double deck elevator car for the passenger elevator. The elevator in KONE's High-Rise Laboratory at the Tytyri mine in Lohja served as a model for the Posiva project. The delivery will also include an elevator for construction time use, enabling the installation of the final shaft equipment.

The passenger elevator will feature the KONE UltraRope(TM) technology, a high-rise elevator technology that is set to break industry limits and enable future elevator travel heights of 1 kilometer - twice the distance currently feasible. KONE UltraRope eliminates the disadvantages of conventional steel rope and opens up a world of possibilities in high-rise building design.

"Posiva is the first company in the world to receive a construction license for a final disposal facility of spent nuclear fuel. This is a unique project whose progress is being followed closely by other nuclear power nations around the world," says Posiva's President, Janne Mokka. "We are pleased that we can exploit Finnish expertise also in the elevator technology field. A passenger elevator for the final disposal facility is a very technologically demanding project. The quality and expertise of KONE's elevator technology is world-class, which makes it an excellent fit for this underground facility."

"We are extremely pleased to be part of this unique, technologically advanced project," says Noud Veeger, Executive Vice President for KONE Central and North Europe."

The elevator to be used during construction is expected to be ready in early 2019. The passenger elevator will be fully completed by the end of 2020 and taken into use at the start of 2021.

The order was booked in the fourth quarter of 2015.

Previous press releases on KONE's orders are available at www.kone.com/press, including:

June 5, 2014: KONE wins order for Saudi Arabia's Kingdom Tower, the world's tallest building
October 1, 2013: First KONE UltraRope(TM) installed at Marina Bay Sands, Singapore, in time for the World Architecture Festival
June 10, 2013: New KONE UltraRope(TM) elevator hoisting technology enables the next big leap in high-rise building design

For further information, please contact:
Erkki Palonen, SVP, Project, Posiva Oy, tel. +358 503 80 8346
Liisa Kivelä, Director, Communications, KONE Corporation, tel. +358 204 75 4330. media@kone.com

About KONE
KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2014, KONE had annual net sales of EUR 7.3 billion and at the end of the year over 47,000 employees. KONE class B shares are listed on the Nasdaq OMX Helsinki Ltd in Finland.
www.kone.com